Reverse Mortgage Eligibility & Qualifications

Author: Marisa Nguyen Mortgage Consultants Group |

To be considered eligible for a Reverse Mortgage in Canada, you must be:

  • A Canadian homeowner
  • Age 55 or older (if you have a spouse, both of you must be at least
  • 55 years old to be eligible)

To qualify for a Reverse Mortgage in Canada, the following factors are assessed:

  • You and your spouse's age
  • Location of your home
  • Type of home (e.g. detached, condo, townhouse etc.)
  • Appraised value of your home
  • The condition of your home
  • Your home equity