We’ve done our research to bring you the most complete guide to Ottawa reverse mortgages. Here’s a sneak peek at what you’ll find inside:
1. Exactly how Ottawa reverse mortgages work in practice
We reveal the exactly what is a reverse mortgage – including all the facts and everything you have to know about this financial solution and it works – to ensure you get all the crucial details about this decision, including any drawbacks.
2. The leading misconceptions about Ottawa reverse mortgages
You may have been led to believe that there’s a chance you’ll lose your home with this option. While that may be true in some places, it is 100% false here in Canada. There is absolutely no way you can lose your home.
In our eBook, we put myths like this one to rest.
3. Learn how your options stack up
You’re looking for the best option for your particular situation and we want to help you find it. That’s why we compare a reverse mortgage to a Home Equity Line Of Credit (HELOC), which tends to be the most common alternative home owners go for.
Our service is totally free. We supply all the help and unbiased suggestions for your Ottawa reverse mortgage solution.
We intend to save you hours going from bank to bank and lender to loan provider. We’ve done the hard work for you.
As part of top-ranked mortgage broker Dominion Lending Centres Edge Financial, we’ve worked with hundreds of clients to find the best option for their needs.
Discovering the best Ottawa reverse mortgage solution for you doesn’t have to be stressful
The immense volume of information available regarding this process would make anyone pull their hair out. Let an expert come to the rescue.
Relax and unwind.Our specialists are here to help.
So, what are you waiting for, Ottawa?
Our team is licensed with Dominion Lending Centres Edge Financial – an award-winning mortgage brokerage – so you can rely on us to bring you the best independent and unbiased guidance regarding your mortgage plan.
Reverse Mortgage Pros Background
Every day, more and more individuals in Ottawa over 55 are considering a this convenient financial solution.
But the concept can seem daunting.
It doesn’t help that myths surrounding the process spread like wildfire, resulting in confused and frustrated home owners.
Seeing the need for an unbiased resource, we developed this service to assist people like you with their mortgage needs.
And we don’t just deal with Ottawa property owners, but residents all across Canada who trust in the service we provide.
Dealing with the myths and falsehoods surrounding reverse mortgages
As we mentioned before, the incorrect information circulating on the internet is endless.
The biggest culprit is the U.S.A, where risky and often unethical lending practices gave them a bad name.
Canada, on the other hand, has a much more conservative set of lenders.
It’s not fair to compare the Canadian product with the American one as they are two very different things.
Similar to how Canadian lenders didn’t require a bailout during the economic crisis of 2008, neither do Canadian, specifically Ottawa reverse mortgage holders who are much better protected in Canada than in the United States.
Three crucial distinctions between Canadian and American reverse mortgages
There are several differences between our product and that of our neighbour, but let’s look at three for now.
Canadians cannot, under any circumstance, lose their home.
In Canada you are in fact legally safeguarded to stop this happening and it is written in the legal documents you will sign.
It was not always like this in the U.S.
Another major difference we must address is that Canadian product have a ‘cap’, meaning the amount you owe can never exceed your home’s worth.
It’s also important to know that in almost all cases, you will retain some home equity.
The last thing keep in mind is that monthly repayments are not necessary. You can still make them if you want to, however.
To sum up what we’ve covered, you can never lose your home, you can keep your home equity under most circumstances – more on this in our guide – and you never need to make any monthly payments.
This is why we strongly suggest you download your copy of our comprehensive guide for Ottawa home owners over 55
From what we’ve stated, it may seem like this solution is too good to be true.
We don’t recommend you make this choice without having done your own research, which is why we produced this free eBook outlining all you need to know – including the disadvantages of a reverse mortgage .
We call it the ‘Ultimate Reverse Mortgage Guide’ because it includes every last detail – including the drawbacks and everything you need to know regarding reverse mortgage canada facts.
Likewise, we compare this mortgage solution to the other choices out there and outline the advantages and disadvantages of each.
We have developed this eBook to be the ultimate resource on mortgage loan options, so you would be making a mistake by not giving it a read.
We left no stone unturned.
Compiling information to make your Ottawa reverse mortgage choice
We encourage anyone considering a mortgage loan to not rush over this choice.
This is an essential decision. As such, take the time to study and gather details. However, be cautious and keep an eye out for incorrect assumptions.
Always remember that you can call us anytime with any concerns you may have. This free eBook is just one part of our professional mortgage help and service. As independent and objective mortgage professionals, we don’t work for any of the lenders and can give you the guidance you require.
Everything begins with our free guide – get it now!
Suggested next steps for your financial journey
Chances are you currently find yourself at one of three stages:
1. If you are unfamiliar with reverse mortgages, we recommend downloading the free guide.
For those who know the basics but have some advanced queries, give us a call or send us an email and we’ll be happy to assist.
Finally, home owners with a greater understanding of the process ready to take the next steps can fill out our free assessment form.
This evaluation includes an independent and objective mortgage expert looking at your details and financial background and advising you as to which option would be the best fit.
We hope you now have a better idea of reverse mortgages and are armed with the tools to take the next step. We look forward to assisting you further through our complimentary guide, financial evaluation, or over email. Best of luck!