Reverse Mortgages

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Specialized Lending Solutions Made Easy

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What is a Reverse Mortgage?

[/vc_column_text][vc_empty_space height=”15px”][vc_column_text]A reverse mortgage is a loan that allows the homeowner to obtain funds as a lump sum, fixed monthly payment, or line of credit up to the maximum amount determined by assessing your age, and the age of your spouse if they are registered on the title of your home, and your home’s appraised value (home’s location, condition, and type).

 

Unlike most other mortgage loans, a reverse mortgage doesn’t require the borrower to make any loan payments. Payments are made when the loan is due, usually when the homeowner passes, moves out permanently, or sells the property.[/vc_column_text][vc_empty_space height=”31px”][qode_button_v2 target=”_self” icon_pack=”font_awesome” icon=”fa-check-square” enable_icon_square=”yes” font_weight=”600″ hover_effect=”” gradient=”no” text=”Start Your Application Today” link=”https://leapfinancial.ca/apply-now/” font_family=”Barlow” font_size=”16″ icon_font_size=”16″][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css=”.vc_custom_1563680414947{border-top-width: 4px !important;padding-top: 30px !important;padding-bottom: 35px !important;border-top-color: #f8f8f8 !important;border-top-style: solid !important;}” z_index=””][vc_column][vc_column_text]

What are the Benefits of Reverse Mortgages?

[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css=”.vc_custom_1563675979534{padding-top: 60px !important;padding-right: 60px !important;padding-bottom: 60px !important;padding-left: 60px !important;background-color: #f8f8f8 !important;}” z_index=””][vc_column width=”1/4″][icon_text box_type=”normal” icon=”fa-check-square-o” icon_type=”square” icon_position=”top” icon_margin=”0 0 20px 0″ icon_size=”fa-lg” use_custom_icon_size=”yes” custom_icon_size=”72″ custom_icon_size_inner=”72″ title_tag=”h3″ separator=”yes” separator_top_margin=”0px” separator_bottom_margin=”0px” separator_width=”400px” text=”The eligibility requirements are easy. You must be a homeowner, at least 55 years of age, and the home used in your application must be your primary residence.” link_icon=”no” title=”Easy Approval Criteria” icon_color=”#9ec43b” separator_color=”#666666″][/vc_column][vc_column width=”1/4″ el_class=”benefit”][icon_text box_type=”normal” icon=”fa-money” icon_type=”square” icon_position=”top” icon_margin=”0 0 20px 0″ icon_size=”fa-lg” use_custom_icon_size=”yes” custom_icon_size=”72″ custom_icon_size_inner=”72″ title_tag=”h3″ separator=”yes” separator_top_margin=”0px” separator_bottom_margin=”0px” separator_width=”400px” text=”When you’re approved for a Reverse Mortgage, you have the option to choose between receiving a lump sum or monthly payments. Whatever works for you.” link_icon=”no” title=”A Flexible Option” icon_color=”#9ec43b” separator_color=”#666666″][/vc_column][vc_column width=”1/4″ el_class=”benefit”][icon_text box_type=”normal” icon=”fa-users” icon_type=”square” icon_position=”top” icon_margin=”0 0 20px 0″ icon_size=”fa-lg” use_custom_icon_size=”yes” custom_icon_size=”72″ custom_icon_size_inner=”72″ title_tag=”h3″ separator=”yes” separator_top_margin=”0px” separator_bottom_margin=”0px” separator_width=”400px” text=”Being approved for a Reverse Mortgage does not affect the Old-Age Security or Guaranteed Income Supplement benefits that you may be receiving.” link_icon=”no” title=”It’s Non-Disruptive” icon_color=”#9ec43b” separator_color=”#666666″][/vc_column][vc_column width=”1/4″ el_class=”benefit”][icon_text box_type=”normal” icon=”fa-home” icon_type=”square” icon_position=”top” icon_margin=”0 0 20px 0″ icon_size=”fa-lg” use_custom_icon_size=”yes” custom_icon_size=”72″ custom_icon_size_inner=”72″ title_tag=”h3″ separator=”yes” separator_top_margin=”0px” separator_bottom_margin=”0px” separator_width=”400px” text=”A Reverse Mortgage allows you to continue living in your home, while using it as a source of income. There’s no need to sell the assets you worked so hard for.” link_icon=”no” title=”Leverage Your Assets” icon_color=”#9ec43b” separator_color=”#666666″][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”center” background_image_as_pattern=”without_pattern” css=”.vc_custom_1563684637200{padding-top: 100px !important;padding-bottom: 100px !important;}” z_index=”” el_id=”leap-can-help”][vc_column css=”.vc_custom_1607038771261{background-color: #ffffff !important;}” el_class=”lead-form-container”][vc_row_inner row_type=”row” type=”full_width” text_align=”center” css_animation=”” css=”.vc_custom_1563683641563{padding-top: 45px !important;padding-bottom: 90px !important;}”][vc_column_inner offset=”vc_col-lg-offset-1 vc_col-lg-10″][vc_single_image image=”644″ img_size=”200×200″ alignment=”center” qode_css_animation=””][vc_column_text css=”.vc_custom_1563739185303{margin-top: 20px !important;}”]

At Leap Financial, We Can Help!

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The biggest advantage to obtaining a reverse mortgage is that you can turn some of the value of your home into cash, without having to sell your home. You also won’t have to pay tax on the money you borrow. The team at Leap Financial can help you select the perfect solution to address your financial concerns, and can help tailor a loan for you that suits your needs, concerns, and circumstances.

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