There are currently two lenders in Canada who lend a specific product called a ‘reverse mortgage’ – HomEquity Bank and Equitable Bank. We have access to both products and will advise you as to which is the better fit for you, based on the information you provided in your application.
We work with and partner with both lenders, where we believe a reverse mortgage is the right fit for you. Despite what you may have read elsewhere, these are the only two reverse mortgage lenders in Canada. I would be careful in dealing with anyone who is falsely representing themselves in this manner.
We, ourselves, are part of the Dominion Lending Centres mortgage group – the #1 originators of mortgages in Canada now (more than any of the big banks). Dominion Lending Centres are Mortgage Brokers – that is we work with over 39 different lenders to find the best lender and best mortgage product for you.
We are not reverse mortgage lenders – HomEquity Bank and Equitable Bank are simply 2 of the 39 lenders we work with.
In addition to this, there are some products that are like a reverse mortgage – if we believe that any of these are a good fit for you, we can recommend them to you.
What we offer is impartial, objective and professional mortgage advice. We will only recommend a reverse mortgage if we believe it is the right option for you.
It is highly recommended that you speak to a Mortgage Professional before making any mortgage decisions – in the same way you’d speak to a tax accountant before making any tax decisions. The job of a Mortgage Professional is to work for you – to find you the best mortgage and give you the mortgage advice and answers that you need.