If you are over the age of 55, a reverse mortgage loan may be the best option for you to keep your home!
One of Blue Pearl Mortgage Group’s greatest goals is to help our clients stay comfortable in their homes. We strive to provide all of the necessities that you will need to live an enjoyable life in the home that you have filled with memories.
A reverse mortgage in Canada is a loan that is taken out against the current equity of your home. It is the perfect option for men and women over the age of 55 as it allows you to keep your home without making any payments. Instead, the interest on reverse mortgages begins to gather, and the equity that has gathered in a home will decrease with time. The lending quality can be as much as 50% of the current value of your property, but is dependent on your age, age of your spouse, property value, and type of property.
At Blue Pearl Mortgage Group, we have partnered with HomEquity Bank to offer CHIP reverse mortgages to our clients living in Surrey, Abbotsford, Langley, and other communities within the Lower Mainland and Fraser Valley Communities of BC. Unlike a typical home mortgage, you do not need to produce any type of income documents to secure a reverse mortgage loan.
For further information, visit our Frequently asked questions here. and you’ll get all the information you need on reverse mortgages. With Blue Pearl Mortgage Group, we look forward to affording you an enjoyable lifestyle well into the future!