Committed to making your mortgage approval process stress free and efficient for over 25 years, Sunlite Mortgage is one of Toronto, Canada’s leading mortgage brokerages.
You have spent much of your life caring for your home with love and admiration. You have poured a lot of money into it. Now that you are older and your income is less, your home would like to take care of you and give you the financial freedom you deserve with a reverse mortgage for Canadians 55+. Sunlite Mortgage Offers reverse mortgages from the three reverse mortgage companies in Canada – Bloom Reverse Mortgage, Chip Reverse Mortgage and Equitable Bank Reverse Mortgage.
A reverse mortgage is a loan secured against the value of the home. Unlike a loan or a regular mortgage, with a reverse mortgage, you are not required to make regular mortgage payments. The loan is repaid only when the homeowners no longer live in the home.
The homeowner is required to keep the property in good condition and up-to-date with property taxes and property insurance. The money received is tax-free and can be used however the homeowner wishes.
A reverse mortgage can help you with:
A Reverse Mortgage in Canada is a loan secured against the value of your principal residence. Unlike a loan or a regular mortgage, with a reverse mortgage, you are not required to make regular mortgage payments, and it gives you tax-free access to cash in a lump sum or installments with no mandatory ongoing payments. The loan must be repaid only when the homeowner no longer lives there.
If you are a Canadian homeowner living in Alberta, British Columbia, Ontario, 55 years old or over, and own your home, you could get up to 55% of the value of your home as a reverse mortgage. You must also:
You worked hard to become a homeowner, and it’s important to us that we keep it that way. With a reverse mortgage in Canada, you always maintain control of your home. Transferring your home ownership is not required until you leave your home.
With a reverse mortgage, you will never owe more than the value of your home. If you make no-interest payments, your outstanding amount will grow. The equity in your home will also increase more than the loan increase amount.
Would you like more information?
Sunlite Mortgage offers reverse mortgages through three reverse mortgage institutions – Bloom Reverse Mortgage, Chip Reverse Mortgage, and Equitable Bank Reverse Mortgage
Contact a Sunlite Mortgage reverse mortgage agent near you and ask if you qualify for Sunlite Mortgage to pay for your reverse mortgage setup fee. For more information, contact us at (877) 385-6267.
