Neil McJannet
Your Mortgage Agent For Life! - 095309
Tel: 250-861-8758
You may be seeing and hearing a lot more about the CHIP Reverse Mortgage today, and wondering if it’s actually a good solution based on past info you’ve heard around reverse mortgages. Well, you and me both, so I have taken the time to get really familiar with the program here in Canada and have been quite surprised by how it’s changed, how different it is from the US products, and how relevant it has become given our aging population in Canada. Here are some bullet points on what I discovered, and a few scenarios where it has seemed to be an excellent solution that I may not have considered in the past.
Who are they best suited for?
Company Info:
Reverse Mortgages - Fastest Growing Mortgage Product in Canada! - Why?
* 30% of the population is age 60+
* Roughly 50% of those are finding the majority of their wealth tied up in their homes, yet they don't want to sell, but would like access to some of that savings to fund their retireme
Are you, or maybe your parents or grandparents in a "house rich, cash poor" situation?
-A Reverse Mortgage is essentially like a secured credit line, where clients age 55+ can access up to 55% of the value of their home, in tax free cash, but with NO MONTHLY PAYMENTS REQUIRED.
Common Uses:
* Pay off mortgage or other debts that have accumulated for various reasons, eliminating those monthly payments
* Pay for renovations or modifications to the home for aging in place, or for in home care as needs increase
* Supplement pension income to enjoy life, travel, and live the retirement you dreamed of
* Help family by way of early inheritance to assist with down payment of a home, education, etc. Enjoy some of the inheritance WITH your family, instead of just passing on money
* Purchase a vacation or rental property, or use for other investment, etc...
To learn more or if you'd like a free quote for you or someone in your family to see how much they might be eligible for contact me today.
Phone: 250-861-8758
Email : neil@mortgageman.ca
Whether you are first-time buyer or an experienced buyer with excellent credit, The Mortgage Centre has access to the very best products and rates available across Canada. Give us a call… we think you’ll be pleasantly surprised!
Learn MoreThrough training and certification, we have a good understanding of available products, features, and rates. We are here to keep your mortgage moving forward with our Mortgage Market technology, we have electronic access to various major lenders in Canada, so you’re not tied to one lender or one type of mortgage.
Learn MoreWe understand that mortgages can be confusing and intimidating. To help demystify the process, The Mortgage Centre provides a glossary and a variety of free calculators to assist you in researching, and planning your mortgage.
Learn More