Aging-in-Place Financing in Vancouver
Stay in the home you love with a plan that funds accessibility upgrades, home support, and cash-flow comfort. Clear guidance on reverse mortgages, HELOCs, and refinances—matched to your goals.
- Education-first advice
- Generally no broker fee
- Licensed BC • ON • AB
- Brokerage: Verico Paragon MortgagePal Inc. (#12685)
What “Aging-in-Place” Financing Covers
- Accessibility & safety: bathroom remodels, walk-in showers, grab bars, ramps, widened doorways, lighting.
- Home support: funding to help with in-home services, equipment, or contingency buffers.
- Cash-flow comfort: reduce payment pressure so you can stay put comfortably.
Ways to Fund Aging-in-Place—Compared
How We’ll Structure Your Plan
- Conversation: goals, timelines, property details, and care/support needs.
- Options: side-by-side comparison across 60+ lenders (pros, cons, alternatives).
- Approval & funding: existing secured debts on title are paid first; remaining funds are advanced per the chosen program.
Eligibility at a Glance
- Age: typically 55+ for reverse-mortgage-based plans.
- Home: your primary residence; condition & appraised value matter.
- Equity: any mortgage/HELOC on title is paid out first.
- Use of funds: one-time or staged releases to match projects.
- Interest cost vs. future equity and estate plans.
- All fees/costs (appraisal, legal, title) before you decide.
- Alternatives like HELOC, refinance, or waiting.
- Tax/benefit considerations—confirm with your advisor.
Aging-in-Place Financing FAQs
Can this cover accessibility renovations?
Yes—funds can be structured for projects like bathrooms, ramps, lighting, and safety upgrades. We’ll match the draw structure to your timeline.
Will I have to make monthly payments?
Reverse mortgages have no required monthly payments (interest accrues). HELOCs and refinances require payments—amounts depend on balance and rate.
Will this affect OAS/GIS?
Reverse-mortgage proceeds aren’t considered taxable income and generally don’t reduce OAS/GIS. Confirm your situation with a tax professional.
Do you charge a broker fee?
Generally, no. If an alternative lender is required, any broker fee is disclosed upfront so there are no surprises.
Compliance & Notes
General information only; not legal or tax advice. No promises of approval, rates, timelines, or savings. Most clients pay no broker fee; if an alternative lender is required, fees are disclosed upfront. Licensed in BC (BCFSA Agent #501337), Ontario (FSRA Level 2 Agent), and Alberta. Brokerage: Verico Paragon MortgagePal Inc. (#12685).