For Canadian homeowners aged 55+

Reverse Mortgages Unlock the Value of Your Home

Reverse Mortgage Secrets Revealed

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The Basics

What is a Reverse Mortgage?

A reverse mortgage is a simple way to turn a portion of your hard-earned home equity into tax-free cash — with no ongoing payments required for Canadians aged 55 and older.

If you're looking to improve your cashflow, pay off your existing mortgage, travel or fund your dream retirement a reverse mortgage is for you.

With no monthly mortgage payments, retaining the home you love and receiving a tax-free lump sum or regular payments over time, you can borrow up to 59% of your home’s equity.

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The best solution for Canadians 55+

when it makes sense — but the right advice matters!

The facts matter. Call us first — OwlMortgage.ca are reverse mortgage experts.

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Simple & Easy

How a Reverse Mortgage Works

If you’re like many other 55+ Canadians, much of what you own fits into two categories: the equity in your home and the money you’ve saved. Access up to 59% of the value of your home — we make the process easy.

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Myth vs. Fact

Reverse Mortgage Myths

There are many speculations & myths out there from sources with no credibility. Don’t become a victim of ignorance and bad information. Here are some of the myths and facts.

Myth: You Do Not Own Your Own Home

Many believe that with a reverse mortgage the bank owns your home. This is not true.

Fact

You always maintain title, ownership, and control of your home. Your obligation is to maintain property taxes and keep your home in good condition.

Myth: You’ll Owe More Than the Value of Your Home

Many believe that the equity in your home will erode to less than the home’s worth.

Fact

All Reverse Mortgage lenders in Canada provide a “No Negative Equity Guarantee”. This means no matter how long the Reverse Mortgage is in place you will never owe more than the property is worth.

Myth: A Reverse Mortgage is a “Last Resort” Solution

Many financial planners today agree a reverse mortgage has become a viable piece of a retirement plan for Canadians over 55.

Fact

A reverse mortgage allows Canadians to release the equity in their home and convert it into tax-free cash. Your home is part of your financial assets, just like savings and investments. Your retirement plan should allow you to access the value of all your assets – without having to sell your home.

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Owl Success Stories

Here’s what people are saying

A 68-year-old widow in Toronto continued working but found rising household costs difficult to manage. Her single-family home required essential upgrades, including new windows and a furnace, and she carried consumer debt that strained her monthly cashflow.

A reverse mortgage allowed her to:

Consolidate all outstanding debt
Fund necessary home improvements
Improve monthly cashflow without new payments

With plans to remain in her home for at least another decade, the reverse mortgage provided stability and comfort while allowing her to maintain her property and lifestyle.

Toronto Homeowner (Age 68)

An 81-year-old widower living in Vaughan relied solely on pension income and was falling short by approximately $1,500 each month. A small traditional mortgage consumed a significant portion of his fixed income.

A reverse mortgage of approximately $300,000 allowed him to:

Pay off the existing mortgage and eliminate the monthly payment
Access additional funds to supplement his lifestyle
Create predictable cashflow over a 15-year horizon

Because preserving equity was important, the structure balanced monthly support with long-term home equity protection, giving him a sustainable, stress-free retirement plan.

Vaughan Condo Owner (Age 81)

A 76-year-old widow in Northern Ontario struggled to cover daily living expenses on her pension income. Credit card balances were rising, payments were being missed, and even taking in a boarder wasn’t enough to stabilize her finances.

A reverse mortgage provided a full reset:

Consolidated all credit and consumer debt
Eliminated monthly repayment obligations
Allowed her pension and rental income to be used entirely for living expenses

With the pressure of debt removed, she regained financial stability and peace of mind, comfortably affording food, utilities, and modest extras while remaining in the home she loves.

Northern Ontario Homeowner (Age 76)

A married couple in Southwestern Ontario wanted to enjoy travel together after raising three children and helping them start their lives. Their savings were not as strong as before, but they wished to stay in their home while accessing equity for annual vacations.

A reverse mortgage of approximately $350,000 allowed them to:

Create a dedicated vacation fund
Draw a set amount each year for travel
Maintain ownership and remain in their home
Preserve their retirement lifestyle without relying on depleted savings

This solution gave them the freedom to explore the world together while enjoying the security of their long-time home.

Southwestern Ontario Couple (Ages 84 and 72)

A couple in Eastern Ontario lived in a single-family home with no mortgage. Both were still working, but one spouse was on disability. When the other spouse fell ill unexpectedly, their household income dropped to a single source, creating financial pressure as they tried to manage treatment costs and daily expenses.

A reverse mortgage allowed them to:

Access home equity without taking on new monthly debt
Cover medical-related expenses
Maintain stability while living on one income
Focus on health and recovery rather than cashflow stress

The reverse mortgage provided breathing room during a difficult period, ensuring they could remain in their home while managing the financial impact of illness.

Eastern Ontario Couple (Ages 59 and 62)

A couple in Northwestern Ontario arranged a reverse mortgage to help their adult son purchase his first home. They used a portion of their available equity for his down payment while keeping the remainder available for future needs.

Shortly after, one spouse fell ill unexpectedly, creating immediate strain on household finances. Fortunately, the reverse mortgage still had unused funds available.

This allowed them to:

Support their son’s homeownership goals
Access additional funds during a sudden health crisis
Avoid financial stress during treatment and recovery
Focus on well-being rather than bills

The flexibility of the reverse mortgage ensured they could help their family while protecting their own financial stability during an unforeseen challenge.

Northwestern Ontario Couple Supporting Their Son

FREE Reverse Mortgage Guide

Designed specifically for people over 55 like you!

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