Client Comments
Thank you so very much for putting so much effort and time for helping us.



We were so happy that you were able to provide us with construction financing. The draw amounts work fine with our builder and we plan to refer anyone building a house. Thanks again.



Hi Joe

Just wanted to pass on our thanks again for all your help with securing our mortgage.

In hindsight, we would have to say that the entire process of buying for the first time went really well and we managed to avoid a lot of the headache and inconvenience that others seem to come across.

Certainly in regard to arranging our mortgage, things could not have been easier for us and we have you to thank for that.

Your patience and attention to detail was greatly appreciated.

All the best,

. Aghazzarian & L. Marino


Truly Professional

Joe helped us out with our financing and all the questions we asked. The rates and service was excellent and he even came to our house to sign all the papers.

We have recommend him to our co-workers, friends and family.


Mortgage Needed In a Hurry!

We needed to arrange something quickly and Joe Walsh was able to provide us with a commitment on the same day;

I would definitely recommend Joe.

A Satisfied Customer!


We supplied Joe Walsh with all of the pertinent information and we were able to sit back and relax while Joe took care of everything.

He examined all of the possibilities and came up with one that best suited our needs.

Joe took all of the shopping and confusion out of the experience and made it simple for us.

We have used Joe several times in the past and will continue to do so in the future.

He is knowledgeable, professional, there to service quickly & promptly without the stress that normally comes along with this sort of decision

Reverse Mortgage

Find Out If a Reverse Mortgage Is a Good Fit With Your Retirement Planning Goals

The reverse mortgage is a residential mortgage program designed for retirement planning purposes.

In Canada, their is a minimum age requirement of 60, and if there are joint borrowers in the household (couples), both have to be at least 60 years old as well.

There are also no income requirements or credit requirements in the application process.

These programs focus on homeowners who have paid for their home in full or have a small mortgage still outstanding.

Homeowners that qualify, will be able to receive mortgage financing ranging from 10% to 40% of the fair market value of their home less any outstanding charges registered against the property.


Get the Flash Player to see this content.


Currently,  Canadian reverse mortgage programs can provide a minimum mortgage amount of $14,500 and a maximum mortgage of $500,000.  Reverse mortgages are available all across Canada for single family dwellings, duplexes, townhouses, and condos provided that any of the above do not include a property larger than 30 acres.

The interest rate is fixed for one year at a time with any necessary revisions to the rate being made at the end of the interest term each year.

Applicants must own and occupy the property being mortgaged and must continue to live there while the mortgage is in place.  In the event that a spouse were to pass away, the mortgage can continue until the remaining spouse sells the property or passes away.

Even though the borrower(s) must occupy the home with the reverse mortgage in place, they may still be allowed to rent out the property for short periods of time without violating the terms of the mortgage.

The mortgage is also transferable in the event the owner(s) wish to move to another location.

Mortgage advances can be received in the form of a lump sum or payments over time.

Outstanding balances can also be repaid at any time, but will be subject to whatever prepayment penalties are written into the mortgage agreement.

There are no payments requirements for the life of the mortgage and the borrower(s) will never be asked to repay the loan.

In order to better understand how a reverse mortgage may benefit you or a family member, I suggest that you give me a call so that we can go over the programs in more detail and get all your questions answered.

Click Here To Speak Directly With Mortgage Broker Joe Walsh

Canada Mortgage Home

One Response to Reverse Mortgage

  • hi, Joe.

    my father has asked me to find out more about a reverse mortgage to see if it is something he wants to consider. he is 85 yrs old, and lives in etobicoke. a few months ago i asked a realtor friend what the value of his house might be, and she said $425,000 to $450,000.

    Questions: what would be the minimum amount? (Example, could he get $40,000?) could he get this in a lump sum?
    what is the interest rate? and how is it calculated?
    is there a minimum period of time?
    After he passes away, how much time is allowed to sell the house and repay the mortgage?
    what costs are associated with getting a reverse mortgage, such as appraisal, etc, and can they be deducted from the mortgage amount?
    are there more costs at the time of repayment?
    and is there anything else to consider?

    Much appreciated, joe.

Leave a Reply

Your email address will not be published. Required fields are marked *

Get In Touch With Joe
toronto mortgage broker contact
Free Mortgage Information

Free Mortgage

The 5 Critical
Mortgage Financing Mistakes
and How To Avoid Them

Broker Affiliations
Dominion Lending Centres Toronto Ontario Canada

Mortgage Article Archive
More Mortgage Calculators
Click The Link To Access Additional Mortgage Calculators

Mortgage Calculators