Want to provide financial support to your loved ones?

Withdrawing from your retirement savings or selling assets may not be the best solution.

It could ultimately lead to the following challenges.

1. Tax implications which may include withdrawal and capital gains taxes.
2. Potential to impact government benefits such as Old Age Security.
3. May impact future retirement income.

A Reverse Mortgage provides the following benefits.

1. The ultimate deferral plan with no regular monthly payments required.
2. No Negative Equity Guarantee as you never owe more than the value of your home.
3. Qualification criteria is purpose-built for retired Canadians.
4. The CHIP Reverse Mortgage funds are tax-free and do not affect CPP or OAS.
5. You have the flexibility to withdraw funds in a lump sum or in monthly installments.