Reverse Mortgage

Azad Mortgages - Service - Mortgages - Reverse Mortgage
Attractive option for seniors

Reverse Mortgage

A Reverse mortgage is a financing product offered to applicants aged 55 years or over, it offers clients access to the equity in their homes with no taxes nor any monthly mortgage payment.

Azad Mortgages is an approved reverse mortgage agent with many years of experience, we can help you achieve your financial goals while efficiently planning your retirement. Our mortgage experts can walk you through the different steps of the process and ensure your total benefits from the reverse mortgage.

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Benefits of a reverse mortgage in Canada

Tax-free cash from their home equity, without monthly payments. Repayment is deferred until permanently moving, selling, or passing away.

  • Get up to 55% of your home's equity.
  • Receive tax-free cash.
  • No job needed for eligibility.
  • No monthly payments while you or your spouse live in your home.
  • Spend the money as you like.
  • Stay in your home; no need to move or sell.
  • Your estate is protected.
  • Government benefits remain unaffected.

Contact us today to learn more about how Azad Mortgages can help you get reverse mortgage.

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Things To Consider With A Reverse Mortgage

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It is essential to note that for this you and your life partner (If married) must both be 55 years of age or older

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Loan amount based on applicant's age, subject property area & value via independent property appraisal.

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Can be pre-approved for the maximum loan amount but get progressive advanced or as required

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Interest is paid on the advanced amount not the pre-approved maximum amount. This can help make informed decisions

How Does The Reverse Mortgage In Canada Work?

A reversed mortgage in Canada allows clients to remain homeowners white getting the funds out from their homes as per the different way offered by the lenders.

Clients have the option of receiving the funds as a lumpsum amount or on a monthly basis- like a pay cheque or benefits.

A typical property value in Canada increases approximately by 7.5% each year. For example, if your property is valued at $1 million, this value will increase every year by $75,000.00, while your reverse mortgage in the property is $500,000.00 at 5%.

Every year the accumulated interest is $25,000.00. This truly intends that in one year, you made no home loan instalments and your total assets developed by $50,000.00.

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Call for a free consultation with a mortgage expert to plan ahead and make the right decision.

Misinformation

Reverse Mortgages Misinformation

First thing our clients should know about the Reverse Mortgages in Canada, is the applicable laws  that are regulated by the Canadian Federal Government and enacted to protect all seniors contracting a reverse mortgage.

There are a lot of misinformation in the market about the reverse mortgages, however the laws guarantee that clients stay on the title of their homes, can never owe more than the home’s worth; and cannot be forced to move out or sell. These guarantees are confirmed in written and applicable in all reverse mortgages’ contracts.

No Need To Shop Around For The Best Reverse Mortgage

Azad Mortgage will negotiate the best rate and financing offers for you. Rates are typically higher than regular mortgages since reverse mortgages lenders lend money without any payment plan from the clients. Azad Mortgages will assist its clients with improving their way of life by maintaining a healthy monthly cash flow and taking their retirement to the next level. Call us for free consultation.

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