Reverse Mortgage

Unlock Your Home’s Equity — Tax-Free Cash for 55+ Homeowners

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What Is a Reverse Mortgage?

A reverse mortgage is a special type of home loan designed for Canadian homeowners aged 55 and older. It allows you to access a portion of your home’s equity as tax-free cash, without selling your home or making monthly mortgage payments.

Instead of you paying the lender every month, the lender pays you — either as a lump sum, regular income, or a line of credit. You continue to own and live in your home, and the loan (plus accumulated interest) is repaid only when you sell the property, move out permanently, or pass away.

How It Works

Eligibility

How Much You Can Borrow

Up to 55% of your home’s appraised value, depending on:

You can receive the funds as:

Repayment

No monthly payments required while you live in the home.

The full amount (loan + interest) is due only when:

The home’s remaining value (after repayment) belongs to you or your estate.

How You Can Use the Money

You can use reverse mortgage funds any way you wish, including:

Supplementing retirement income
Paying off existing debts or mortgages
Covering home renovations or accessibility upgrades
Funding healthcare or in-home care
Helping children or grandchildren financially

All proceeds are tax-free, since it’s not considered income.

Why Work With AKAL Mortgages

At AKAL Mortgages, licensed mortgage experts help you:

You’ll receive transparent, no-obligation guidance, ensuring your reverse mortgage fits your long-term goals.

OUR VALUABLE

Awards and Recognitions

AKAL Mortgages Inc. is honoured to showcase recent national awards, reaffirming our commitment to excellence in delivering innovative solutions for consumers and brokers.