Vancouver-based • 60+ lender access
Senior Reverse Mortgage in Vancouver
Access home equity without selling or making monthly payments—guided by a Vancouver mortgage specialist who compares options across 60+ lenders and keeps you in the loop every step of the way.
- Education-first advice (pros, cons & alternatives)
- Generally no broker fee; if there is one, it’s disclosed upfront
- Licensed in BC, Ontario & Alberta • Brokerage: Verico Paragon MortgagePal Inc. (#12685)
Is a Reverse Mortgage Right for You?
Best for Vancouver homeowners 55+ who want cash-flow relief while staying in their home. Common uses include covering ongoing expenses, funding renovations or accessibility upgrades, and retiring higher-interest debts—without mandatory monthly payments.
- Prefer staying in your neighbourhood vs. downsizing right now.
- Want to simplify cash flow while protecting credit.
- Have significant equity and a clear plan for proceeds.
How It Works
- Conversation: Share goals, timelines, and any concerns about heirs or long-term equity. You’ll get the pros, cons, and alternatives—not a sales pitch.
- Application: We gather ID, property details, and existing mortgage/HELOC info, coordinate an appraisal, and compare offerings across our lender network.
- Approval & Funding: Existing secured debts on title are paid out first. Remaining funds are provided per the lender’s program (e.g., lump sum or scheduled advances). You’re kept in the loop the whole way.
Eligibility at a Glance
Core factors
- Age: typically 55+ (both applicants if on title).
- Home: primary residence; condition and appraised value matter.
- Equity: any existing mortgage/HELOC is paid out first.
- Use of funds: flexibility to match your plan.
What we’ll clarify
- Interest cost and its impact on future equity.
- Fee transparency (appraisal, legal, title) before decisions.
- Alternatives like HELOC, refinance, or downsizing.
- How current rules may affect your personal tax/benefits situation (we’ll suggest speaking with your tax advisor).
Senior Reverse Mortgage FAQs
How much can I borrow?
It depends on your age, property value/condition, location, and existing equity. Older applicants with higher equity usually qualify for a larger percentage. We’ll model scenarios for your property and goals.
Do I have to make monthly payments?
No mandatory monthly payments. Interest accrues over time and is usually repaid when you sell, move out, or the estate settles the loan. We’ll show the tradeoffs so you can decide with confidence.
Can I receive funds as a lump sum or over time?
Both are possible, depending on the lender program. We’ll match the structure to your cash-flow needs.
Do you charge a broker fee?
Generally, no. In most cases the lender pays the commission. If an alternative lender is required, any broker fee is disclosed upfront—no surprises.
What documents will you ask for?
Government ID, property details, information on mortgages/HELOCs on title, and items needed for the application and appraisal. We’ll send a short, plain-English checklist.
Vancouver-Centric Guidance, National Lender Access
Work with a local specialist who focuses on Greater Vancouver and compares options across 60+ lenders nationwide. Expect quick replies, clear steps, and proactive updates from first call to funding.
Kitsilano • Kerrisdale • Dunbar • Mount Pleasant • East Van • Cambie Village •
Fairview • Downtown • West End • False Creek • South Vancouver
Also assisting North Shore, Burnaby, Richmond, New Westminster, Tri-Cities, and beyond.
Compliance & Notes
General information only; not legal or tax advice. No promises of approval, rates, timelines, or savings. Transparency first: fees and costs are explained before any decision.