Turn your home equity into tax-free cash without monthly payments. BC homeowners 55 and older are accessing hundreds of thousands in home value.
Unlike a traditional mortgage where you make payments to the lender, a reverse mortgage pays you. The loan is repaid when you sell your home, move permanently, or pass away.
Age 55-64
15-25%
of home value
Age 65-74
25-40%
of home value
Age 75+
40-55%
of home value
Higher age = higher available percentage. Combined with CHIP and HomEquity Bank.
Get all funds at once. Best for major purchases or debt payoff.
Regular monthly payments for supplemental retirement income.
Draw funds as needed. Only pay interest on what's used.
Mix of lump sum, monthly, and credit line as you choose.
| Feature | Reverse Mortgage | Home Equity Loan |
|---|---|---|
| Monthly Payments | None | Required |
| Income Qualification | Not Required | Must Qualify |
| Credit Check | Minimal | Significant |
| Interest Rates | 5.99-9.95% | 7.89-11.99% |
| Loan Amount Limits | Up to 55% of value | Up to 80% LTV |
| Risk of Foreclosure | Only if you don't maintain home | If payments aren't made |
Our BC reverse mortgage specialists can help you understand your options and find the best solution.
Get Your Free Consultation