Senior Equity Release In Abbotsford, BC

Senior Equity Release in Abbotsford

Unlock Your Home’s Equity—On Your Terms

Compare reverse mortgage, HELOC, and refinance side-by-side with a Abbotsford mortgage expert. Clear options, transparent costs, and calm guidance across 60+ lender partners.

See your options Book a 10-min call
Abbotsford specialist 60+ lenders Education-first advice Licensed BC • ON • AB Transparent fees

Quick Estimator (illustrative only)

How Much Equity Could You Access?

Adjust the numbers to see illustrative access under common options in Canada. Actual results depend on lender policy, age, property, and timing.

Reverse Mortgage (estimate)

—
Assumes up to ~55% of value minus existing mortgage; varies by age, property, and lender. No regular payments required; interest adds to balance.

Refinance (take-out)

—
Up to 80% of appraised value minus mortgage, subject to qualification, penalties and closing costs.

HELOC

—
Revolving credit: ≤65% of value, and mortgage+HELOC together ≤80% of value.

Review my scenario with McKay Ask a quick question

How It Works

Simple, human, and proactive from first call to funding.

1) Contact

  • Share goals, concerns, and timing.
  • We map options: reverse mortgage, HELOC, refinance.
  • Get a checklist with exactly what to upload.

2) Application

  • Securely upload docs once.
  • We shop 60+ lenders and model penalty math and fees.
  • Education-first updates while we underwrite.

3) Approval

  • Clear terms and next steps before you sign.
  • Funding coordination with your solicitor/notary.
  • Ongoing support post-funding.

What To Consider

The “right” plan balances flexibility, costs, and lifetime goals.

Costs & Penalties

  • Appraisal, legal, title fees
  • Prepayment penalties on existing mortgages
  • Reverse mortgage interest accrues to balance

Cash-Flow Impact

  • Reverse mortgage: no required payments
  • HELOC: interest-only on what you use
  • Refi: new payment based on term and amount

Estate & Flexibility

  • How much equity do you want to preserve?
  • Need access again later? HELOC may suit
  • Planning to sell soon? Model both paths

Get a tailored plan Learn about reverse mortgages

Senior Equity Release FAQs

Can a broker really improve my outcome?
Often, yes. We benchmark 60+ lenders and look beyond the rate to penalties, fees, and flexibility—so the math works in real life, not just on paper.
How much can I typically access?
Rules differ by option. Refinance is usually up to 80% of appraised value less your mortgage. HELOCs are up to 65% (and mortgage+HELOC together ≤80%). Reverse mortgage amounts vary by age, property, and lender—our estimator is illustrative only.
Will this affect Old Age Security or GIS?
Reverse mortgage proceeds are generally loan advances, not taxable income. Always confirm tax questions with a professional; this page is general information only.
Do most clients pay a broker fee?
Usually no. Most clients pay no broker fee. If an alternative lender is required, any fees are disclosed upfront before you proceed.
How long does it take?
It depends on the option and documents. We keep you updated at each step and give realistic timelines for your scenario.
Do you only help in Abbotsford?
Vancouver is home base, and we’re licensed in BC, Ontario, and Alberta. We service clients in Abbotsford and all across Canada.

Next Step

Let’s Review Your Numbers Together

Send a few details and I’ll outline the pros and cons for your goals—calm, clear, and pressure-free.

See your optionsBook a 10-min call

We respect your privacy. Credit checks only with your consent.

BCFSA Agent Licence 501337 (BC) • FSRA Level 2 Agent Licence M19000618 (ON) • Licensed in Alberta • Brokerage: Verico Paragon MortgagePal Inc. (#12685)

This page provides general information, not legal or tax advice.

Questions about equity release? Book a quick call

Ready to get started?

Hi, I'm McKay Wood, a certified mortgage broker and expert. Whatever your mortgage goals, I can help you achieve them.
Contact McKay

Ready to get started? I've helped hundreds of people with mortgages just like you.

Hi, I'm McKay Wood, a mortgage broker and expert. Whatever your mortgage goals, I can help you achieve them across Canada.
McKay, 1-Click Away!

BCFSA Agent

BCFSA Agent License: 501337. (Verify)

FSRA Agent

FSRA Level 2 Agent License: M19000618. (Verify)

Real Estate Council of Alberta

Verify license through RECA ProCheck. (Search "Scott Wood")

Areas We Specialize

Getting Into Your First Home
Managing or Improving an Existing Mortgage
Unlocking Your Home’s Equity
Special Circumstances & Investment
Retirement & Senior Living Solutions