Are you a homeowner over 55? You have the opportunity to access your home equity in various ways. Whether you choose a reverse mortgage, a home equity line of credit, or refinancing, I can help you find the best solution to maximize your finances. These funds can be used to achieve various projects that matter to you, such as:
Fulfilling travel dreams: Explore the world without financial pressure. Whether it’s a Mediterranean cruise, a road trip across Canada, or an escape to Asia, access funds to turn your travel dreams into reality.
Home renovations: Enjoy a more comfortable living space tailored to your needs. Renovate your home to enhance accessibility or modernize key areas like the kitchen or bathroom.
Supporting your children or grandchildren: Help the next generation get a strong start. You can give them a boost for important projects, such as buying a first home, funding their education, or starting a business.
Consolidate your debts: Reduce your financial burden by combining your debts at a generally lower interest rate. This can lower your monthly payments, simplify financial management, and increase your peace of mind.
Finance healthcare or in-home assistance: Ensure you have the resources needed to cover unexpected medical expenses, specialized treatments, or in-home services that allow you to stay in your home longer.
Whether your goal is to enjoy life more, reduce financial stress, or secure a better future for your family, I am here to help you choose the best option based on your unique needs.
A reverse mortgage allows you to release up to 55% of your home’s value, with no monthly payments. It’s an ideal solution for retirees looking to increase their income while continuing to live in their home.
Advantages
Disadvantages
Mortgage refinancing involves replacing your current loan with a new financial product, allowing you to unlock part of your home equity. This option offers three possibilities: a home equity line of credit, a traditional mortgage, or a combination of both. Here’s how each of these options works, along with their advantages and disadvantages:
With this option, you can convert a portion of your equity into a line of credit, allowing you to withdraw funds as needed.
Advantages:
Disadvantages:
This option involves a traditional refinancing, where the loan is restructured and the additional amount is released in a single payment.
Advantages:
Disadvantages:
This solution combines both options: part of the equity is converted into a home equity line of credit, while the other part is included in a traditional mortgage loan.
Advantages:
Disadvantages:
Consider selling your current home and purchasing a smaller one, thus unlocking your home equity and potentially reducing your housing costs.
Advantages:
Disadvantages:
Questions about your financing options?
I am here to answer all your questions!
Get your free consultation!I am a mortgage broker affiliated with Orbis Mortgage Group and accredited by the Autorité des Marchés Financiers (AMF).
With over 25 years of experience in financial services, I specialize in mortgage and commercial financing. Through my network, I have access to over 20 mortgage lenders and professional partners, allowing me to offer a wide range of solutions.
My goal is to provide you with exceptional service, personalized recommendations, and to act with integrity throughout the process. This ensures that you secure the best rates and terms for your mortgage.
To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site and show (non-) personalized ads. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.
To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site and show (non-) personalized ads. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.
To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site and show (non-) personalized ads. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.