Reverse Mortgage in Ontario
Ontario homeowners 55+ can access up to 55% of their home equity — tax-free, with no monthly payments and no income requirements. We are licensed in Ontario (FSRA #13121) and serve clients from Windsor to Ottawa.
55+
Minimum age to qualify in Ontario
Up to 55%
Of your Ontario home's appraised value
FSRA #13121
Our Ontario mortgage broker licence
How a Reverse Mortgage Works in Ontario
The process is the same across Canada, with a few Ontario-specific details worth knowing.
Free consultation
We review your home value, age, and goals. No obligation — just a clear picture of what you could access and whether a reverse mortgage makes sense for your situation.
Application and appraisal
We submit your application to the lender(s) best suited to your situation. A licensed Ontario appraiser assesses your home's current market value.
Independent legal advice (ILA)
Required by all Canadian lenders before closing. Your own Ontario lawyer reviews the agreement with you independently — this protects you and ensures you fully understand the terms.
Funds advanced
Once all conditions are met, funds are advanced — typically as a lump sum, though monthly advances are also available. The full process usually takes 4–8 weeks.
We Serve Homeowners Across Ontario
Based in Dundas (Hamilton area), we work with clients in every corner of the province — in person, by phone, or by video.
Toronto
Average detached home values above $1.1M — significant equity available
Hamilton & Burlington
Our home market — local expertise, same-day consultations available
Ottawa
Strong government-sector retirees; stable home values in the $600K–$900K range
Mississauga & Brampton
High-value suburban homes; large senior population
London & Windsor
Affordable markets with strong equity-to-income ratios for seniors
Kitchener-Waterloo
Growing tech corridor; long-term homeowners with substantial equity
Why Ontario Homeowners Choose Us
FSRA Licensed
We are licensed by FSRA Ontario (License #13121) and in BC (License #504513). We serve clients in all other provinces through the Mortgage Alliance network.
Independent & Unbiased
We compare all five Canadian reverse mortgage lenders and recommend the best fit for your situation — not the highest commission.
Ontario Market Expertise
We understand Ontario real estate values from Windsor to Ottawa and can give you a realistic picture of what your home could qualify for.
Ontario Reverse Mortgage — Common Questions
Do I need to be an Ontario resident to qualify?
We can assist anyone in Ontario. The property simply needs to be your primary residence in the province — there are no restrictions based on how long you have lived in Ontario, where you were born, or your background. If you own and live in an Ontario home and are 55 or older, you may qualify.
Are reverse mortgages regulated in Ontario?
Yes. Reverse mortgage brokers in Ontario are licensed and regulated by the Financial Services Regulatory Authority of Ontario (FSRA). Our FSRA license number is 13121. You can verify any broker's license at the FSRA website before proceeding.
Does Ontario land transfer tax apply when I get a reverse mortgage?
No. A reverse mortgage is a loan secured against your existing home — you are not buying or selling a property. Ontario land transfer tax only applies to property purchases, so it does not apply to a reverse mortgage.
Can I get a reverse mortgage on a Toronto condo?
Yes, condominiums in Toronto and across Ontario are eligible for a reverse mortgage, provided the unit is your primary residence and the condo corporation is in good standing. We review the status certificate as part of the application process.
How does a reverse mortgage affect my Ontario pension or benefits?
Reverse mortgage proceeds are not considered income by the CRA and do not affect your CPP, OAS, or GIS eligibility. They are also not subject to Ontario income tax. However, if you are receiving means-tested provincial benefits, we recommend confirming with a financial advisor.
Ready to See What Your Ontario Home Qualifies For?
A free, no-obligation conversation takes about 20 minutes. We will tell you exactly what you could access, what it costs, and whether it makes sense for your situation.