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Special Reverse Mortgage Rate Promotion - 4.99% On A 1 Year Term - Limited Time Only

There is now a limited time offer to get a 4.99% interest rate on your reverse mortgage for the first year.


Available to both new and existing reverse mortgage holders, this is a great option for those waiting for rates to come down further. The idea is that by this time next year, rates should have come down and you can renew into a better rate - most likely better than you'd be able to get right now anyway (I'll discuss this in more detail below).

It is a limited time offer - only available until September 30th & not everyone qualifies - you can click the button below to apply for this now or keep reading to get more information on the details of how this works.

Click Here To Get The 4.99% Rate Promotion

The promotion is expiring soon:

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What Happens At The End Of 1 Year?
What's The Catch?

As noted, you only get the promotional 4.99% in the first year of your reverse mortgage.


So, the obvious question is: what happens at the end of 1 year?

Basically there are 2 options at the end of 1 year:

Option 1 - You Renew The Reverse Mortgage

You'll renew into a new term (1-5 years) and almost certainly on to a higher rate.

However, the rate you're going to get in a year's time on renewal is highly likely to be lower than the rates you can get just now - as most economists are predicting interest rates to come down significantly in the next year.

It is also important to note that some lenders charge a premium on top of the going market rates at renewal - so you'll want to make sure and factor this in - it also impacts which lender you choose (more on this below).

Option 2 - You Break The Reverse Mortgage

You can also choose to break the reverse mortgage - either by paying it off or moving it to a different lender (if you don't like the renewal rate offered and can get a better rate elsewhere).

However, in doing this, you'll have to pay a penalty and the penalty amount can be quite steep (depending on the lender).

This is because reverse mortgage penalties work very differently to regular mortgages - penalties are not based on the term length at all. For more on this see these 2 articles:

Breaking A Reverse Mortgage

Reverse Mortgage Penalties Explained

So, if you are planning on just using this for 1 year or looking to re-assess your options at the end of the year, you'll need to factor in and think about penalties.

Do You Qualify For This Promotion?
Should You Get It?

Which Lender Should You Choose?

This is a fantastic promotion and I believe it's a great deal.

The promotion is, however, limited to new customers.

If you have an existing reverse mortgage, you cannot get it with your current lender - but you could get it by switching to a different lender.

There would be additional costs and penalties payable in switching your reverse mortgage - but it might still be worth it.

In addition to this, only certain towns and cities in Canada are included in the promotion.

Finally, selecting the right lender for this promotion is very important. It's very easy for a lender to bury hidden costs in this promotion through excessive penalties or large premiums on the renewal rate when you renew in 1 year's time.

I'd be happy to look at your situation, recommend the best lender (free of charge) and send you even more detailed information about how this works and what you can expect - simply click the button below if you're interested.

Click Here To Get The 4.99% Rate Promotion

This promotion is expiring soon:

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This Service Is Completely Free By A Licensed Mortgage Professional & Chartered Accountant - Award Winning Information & Advice You Can Trust

Click Here To Get The 4.99% Rate Promotion

Here's What Other Canadians Have Said About Our Service:

“After hours of research I found the info I really needed...”

Erich
Toronto, Ontario

"The information you are sending is outstanding.”

Mike
Vancouver, BC

"Definitely helps a lot. Thank you very much.”

Glen and Sherry
Calgary, AB

Get This Special 4.99% Promotional Rate While It's Still Available...

This is only available for a limited time only - click the button below to see if you qualify and find out all the details about this promotional offer - what's the catch, any hidden costs and more.

Click Here To Get The 4.99% Promotional Rate

About Me

"I'm a Chartered Accountant and Mortgage Broker licensed in Ontario, BC and Alberta.

From 2016 through to the current year I've been the #1 reverse mortgage broker in Canada - because of the help and advice I've been able to offer my clients.

I believe that no-one understands reverse mortgages in Canada better than I do - and I make sure you get all the facts you need to help with your decision.

With my free service, you can get independent, impartial and professional advice as to the best reverse mortgage deal - as well as the lowest costs & fees.

It's completely free with no obligations and no hard sales pitch - I provide the information you need so that you can make your own informed decision."

Get The 4.99% Promotional Rate

Mich Sneddon, CPA, CA

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FREQUENTLY ASKED QUESTIONS

Common Questions About Reverse Mortgages & This Service

Can I get this if I already have a reverse mortgage?

Yes! As long as you qualify, anyone can get it.

You would have to apply and switch to a different lender but there's a good chance that doing so and taking advantage of this promotion rate could save you tens of thousands of dollars...

I can run the number for you, show you all the costs (penalties) and everything to see if it's worth your time - simply click the button at the bottom of this page to get started and provide the basic information I need. 

How do I take out a reverse mortgage?

At present, the "Big 5" Canadian banks - RBC, BMO, CIBC, Scotiabank and TD do not offer a reverse mortgage.


There are several lending options available though - depending on where you live - including Home Equity Bank (the 'CHIP' reverse mortgage - see below), Equitable Bank and Bloom.

Manulife and Fraction also have products that can work in a similar way to a reverse mortgage - please contact me if you are interested in learning more about this.

How much does your service cost?

Just so you have it in black and white: my guide, my free 90 second reverse mortgage assessment and all the advice and recommendations I provide you regarding reverse mortgage rates are completely free - you will never pay me a penny (ever) for any of my reverse mortgage advice.  

What is CHIP?

CHIP stands for the Canadian Home Income Plan (CHIP) - this refers to the reverse mortgage offered by Home Equity Bank - one of several lenders offering a reverse mortgage in Canada.

It is what they previously called this before they changed it to 'CHIP reverse mortgage'. 

How much money can I get?

There are 3 key factors in deciding how much you qualify for under a reverse mortgage: (1) the location of your home, (2) your age and (3) the property type. You may qualify for as much as 55% of your home value but the range is usually somewhere between 10% to 55%.


If you're interested, I'll give you a free assessment, tell you how much you can get and advise you as to the best options for you simply click here to fill out my free assessment form.  

What if I already have a mortgage?

You can still take this out if you have a mortgage on your property. It would be the exact same process that you'd go through in taking your mortgage to another lender - they will simply replace your existing mortgage loan. You'd then get to keep any excess money available.

A reverse mortgage simply allows you to move away from having to make monthly mortgage payments while still gaining access to the equity in your home.  

What are the CHIP reverse mortgage rates?

Interest rates are actually set on a case by case basis - they'll depend on your home value, age, how much you're looking to borrow & term.

If you fill out my free 90 second online form, I'll compare CHIP reverse mortgage rates with what else is on the market to help find you the best deal.

What about the alternatives to a reverse mortgage?

Since I am an independent mortgage professional - I don't work for any of the lenders - I want to make sure that you see all of the options out there, and see what the reverse mortgage allows you to do.

I've outlined alternative options once you have completed my free online form.

Who are you?

I am a certified Chartered Accountant and licensed Mortgage Broker with my own brokerage Reverse Mortgage Pros - the #1 reverse mortgage brokerage in Canada.


As a mortgage professional, my job is to offer you independent, objective and professional advice on all of your financial needs.

As a reverse mortgage broker, I don't work for any bank or lender - I work for you. That's why I can find you the best rates and the lowest costs and fees (it isn't just about rates - you need to consider the other costs and fees too).

What paperwork is needed?

With reverse mortgages it is much easier to get a loan than is the case with any other kind of home equity loan. But we are still talking about lending large amounts of money, so this does not make it a walk in the park.

On top of this, there are factors to ensure that you are eligible for a reverse mortgage, including that you must be at least 55 years old, as well as an assessment of the value of your home, whether you are going to make monthly mortgage payments, and more. For more on the requirements, please get in touch with me.

Click Here To Get The 4.99% Promotional Rate