From first conversation to funded — here is exactly what to expect, every step of the way.
Most clients receive their funds within 30 to 60 days of their first consultation.
We start with a conversation. You tell us about your situation, your property, your goals, and any concerns. We listen first and talk about products second.
If a reverse mortgage makes sense, we explain exactly how much you may qualify for and what your options look like. If it does not, we tell you that too.
This consultation is completely free. No commitment required and no paperwork signed at this stage.
Once you decide to move forward, we complete the application together. A licensed appraiser will visit your home to determine its current market value.
The appraisal fee — typically $300 to $500 — is rolled into your closing costs and paid directly from your mortgage proceeds at funding. Nothing comes out of your pocket.
Before any reverse mortgage can be approved in Canada, you are required by law to receive independent legal advice from a lawyer of your own choosing.
Legal fees are rolled into your closing costs and paid from your mortgage proceeds — not out of your pocket. We can refer you to lawyers familiar with reverse mortgages if needed.
Once approved, your lawyer completes the closing and funds are advanced directly to you. You choose how you receive the money — lump sum, scheduled payments, or both.
Total timeline from first consultation to funding is typically 30 to 60 days.
Most Ontario homeowners 55 and older qualify.
You must be 55 years of age or older. If there are two borrowers, both must meet the minimum age requirement.
The property must be your primary residence — the home you live in for the majority of the year.
The property must be located in Canada. We work exclusively with Ontario homeowners.
Every closing cost — appraisal, legal, title insurance — is rolled into your mortgage proceeds and paid at funding. Nothing leaves your account before or during the process.
Typically $300–$500. Paid from your mortgage proceeds at closing — not out of pocket. Most lenders, including Bloom and Equitable Bank, roll this into closing costs.
Required by Canadian law. Your lawyer's fee is paid from proceeds at closing. We refer you to lawyers familiar with reverse mortgages to keep costs reasonable.
A standard closing cost required by all lenders. Paid from proceeds — never out of your pocket before funding.
If you carry a mortgage, it is paid out in full from your reverse mortgage proceeds at closing. Your monthly payment disappears on day one.
Our broker fee is paid by the lender when your file closes — not by you. Every third-party cost is paid from your mortgage proceeds at funding. You receive your money. Nothing is owed before that moment.
Canadian reverse mortgages carry significant legal protections. These are not optional — they are guaranteed.
Your name remains on the title for the life of the mortgage.
You can never owe more than your home is worth at the time of repayment.
You are never required to make a payment while you live in the home.
Mandatory by law before any mortgage can close.
The funds you receive are not considered income. No tax on the money you access.
Any remaining equity after the mortgage is repaid belongs entirely to your estate.
Book a free consultation and walk away knowing exactly where you stand.
