Vancouver-based • 60+ lender access

Senior Equity Release Plan in Vancouver

Unlock home equity while staying in your home. Get clear, education-first guidance on reverse mortgages, HELOCs, and refinances—so you can choose the option that actually fits your plan.

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Education-first advice
Generally no broker fee
Licensed BC • ON • AB
Brokerage: Verico Paragon MortgagePal Inc. (#12685)

What is a Senior Equity Release Plan?

An equity release plan helps Vancouver homeowners 55+ access a portion of their home’s value to support retirement goals—without needing to sell. The right approach depends on your cash-flow needs, risk tolerance, time horizon, and plans for the property.

Popular Paths—Compared

Reverse Mortgage

Best when: no monthly payments are preferred.

Funds: lump sum and/or scheduled advances.

Consider: interest accrues, reducing future equity.

Notes: proceeds aren’t taxable income.

HELOC (Home Equity Line)

Best when: flexible, on-demand access suits you.

Funds: draw as needed; interest only on what you use.

Consider: payments required on balances; income & credit matter.

Notes: rates can change; keep a repayment plan.

Refinance

Best when: you can handle payments and want a lump sum.

Funds: larger one-time advance possible.

Consider: payment impact on cash-flow.

Notes: may combine with other strategies.

Ask which one fits me Email the comparison as PDF

How It Works

Conversation: We map goals, timelines, and concerns (e.g., heirs and future equity). You’ll get pros, cons, and alternatives—not a sales pitch.
Application: Provide ID, property details, and info on any mortgages/HELOCs. We coordinate an appraisal and compare offers across 60+ lenders.
Approval & Funding: Existing secured debts on title are paid first; remaining funds are advanced per the program you choose.

Start my plan Get the document checklist

Eligibility at a Glance

Core factors

Age: typically 55+ (all owners on title).
Home: primary residence; condition & appraised value matter.
Equity: any mortgage/HELOC on title is paid out first.
Use of funds: one-time or staged, depending on program.

We’ll clarify

Interest cost vs. future equity and estate goals.
All fees/costs (appraisal, legal, title) before you decide.
Alternatives like HELOC, refinance, or downsizing.
Tax/benefit considerations (suggest speaking with your advisor).

Senior Equity Release FAQs

Will this affect my OAS/GIS benefits?

Reverse mortgage proceeds aren’t considered taxable income and generally don’t reduce OAS/GIS. Always confirm your specific situation with a tax professional.

Do I have to make monthly payments?

Reverse mortgages have no required monthly payments (interest accrues). HELOCs and refinances require payments—amounts vary by balance and rate.

How much could I access?

It depends on your age, property value/condition, location, and existing equity. We’ll model a few scenarios for your property.

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.

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).