Reverse Mortgages for Canadians Aged 55+

Getting a Reverse Mortgage with Sunlite Mortgage?

There are many advantages to getting a Reverse Mortgage with a Sunlite Mortgage agent, but here are just a few.

• Stay in Control:  With a Reverse Mortgage, you keep full ownership and control of your home while accessing its value.
• No Monthly Payments:  A Reverse Mortgage allows you to enjoy financial freedom without making regular mortgage payments.
• Tax-Free Funds:  The proceeds are tax-free and will not affect your CPP or reduce your OAS benefits.
• Expert Negotiation:  Our agents are experts in securing the best rates and terms for your Reverse Mortgage, ensuring you get the best rate possible.
• Cash Back:  Get up to $4,100 to offset your closing cost when you start a new Reverse Mortgage with a Sunlite Mortgage Agent. You will get the same amount of cashback on additional withdrawals as long as it is equal to the initial amount disbursed or higher. Just call us when you are ready, and we will assist you.

We’ve assisted many Canadians in getting Reverse Mortgages that they have used for a variety of needs, including:

• Paying off an existing mortgage
• Supplementing income
• Helping family members buy a property
• Relieving financial pressure
• Giving a living inheritance to children
• Increasing cash flow
• Buying a vacation property
• Home renovations and improvements
• Assisting family members or friends
• Covering healthcare expenses
• Alleviating debt
• Preserving investments
• Traveling more often

You Maintain Full Control of Your Home

Unlike traditional mortgages, you never have to make regular payments with a Reverse Mortgage, and there’s no risk of losing your home as long as you commit to making your annual property tax payments and, if applicable, paying your condo fees and keeping your home in good repair. The mortgage becomes due only when you sell the home or no longer live there.

Receive Your Reverse Mortgage Payments

Once approved, you decide how to receive your tax-free Reverse Mortgage proceeds. Whether you prefer a lump sum, monthly payments, or a flexible schedule, we make sure it works for you. Most importantly, your Reverse Mortgage is not income and is not taxable, so your CPP or OAS income remains unaffected. With your Reverse Mortgage, you only pay interest on the amount you use, not the amount you are approved for, similar to a HELOC or credit card.

Benefits of a Reverse Mortgage with Sunlite Mortgage

We have helped many homeowners maintain title ownership of their homes while accessing a unique financial product designed to provide them with the cash they need when they need it. Here’s what a Reverse Mortgage could offer:

• Early Inheritance: Give your family an early inheritance so you can see them enjoying it, and you can feel fulfilled and well-being.
• Home Renovation: Renovate your home to improve mobility or repair your driveway, roof, or HVAC.
• Help Children and Grandchildren: Help your children buy their first home or help your grandchildren with tuition fees.
• Preserve Investments: Keep your investment portfolio intact for longer.