The brokerage behind the pages
Each page on ReverseMortgageMississauga.ca comes from one Ontario mortgage brokerage: Dominion Lending Centres Homestead Financial, a member of the Dominion Lending Centres network that is independently owned and operated. Its FSRA brokerage licence number is 11711.
The reverse mortgage side of the brokerage is run by Richard Hopkins, Mortgage Broker (licence M16000896). He began as a mortgage agent in 2013 and now holds a mortgage broker's licence. The brokerage was founded in 2009.
Lenders have no say in what is written here. None of them pays for a page, sponsors one or sees it before it is published.
In Richard's words
I'm a licensed Ontario mortgage broker specializing in reverse mortgages at Dominion Lending Centres Homestead Financial, the brokerage my mother founded in 2009.
I work with all four Canadian reverse mortgage lenders, so I can compare them for you, explain the differences clearly, and recommend the option that offers the best overall value for your needs, both upfront and over the long term.
As a full-service broker, I can also show you other options, including bank refinances, home equity lines of credit (HELOCs) and home equity loans. That means you'll get my recommendation based on your situation, even if it's not a reverse mortgage.
My service is completely free to you, with no sales pressure. The lender pays my brokerage when your reverse mortgage funds, and all four reverse mortgage lenders pay the same, so my compensation doesn't change based on which lender I recommend.
My goal is simply to give you the clear, straightforward information you need to make the decision that's right for you.
Why Mississauga gets its own pages
The rules of a reverse mortgage are provincial and national, so they read the same in Mississauga as in Ottawa. What differs is the money: Mississauga prices, the City's tax rebate for lower-income seniors, its three-units-per-lot rules for garden suites and basement apartments, and the real cost of moving across town.
Each number shown here carries its source and the day it was looked up. Mississauga home values are taken from the monthly reports of the Toronto Regional Real Estate Board, whose area includes Peel. Rates and fees are the ones the four lenders advertise. Program details come straight from the City of Mississauga, the Region of Peel and Ontario.
What happens if you ask for help
- First, an estimate. You fill in a short form on reversemortgagebroker.ca, the brokerage's reverse mortgage website, and asking has no effect on your credit.
- After that, email, phone or video call. Figures are sent in writing so they can be read twice and passed around the family, and a son or daughter can be copied on every message.
- Every lender compared. Your age and your home are checked against every reverse mortgage lender in Canada, and the best deal for your home and goals is sent by email.
- Sometimes the answer is something else. Home equity lines of credit, refinances and ordinary mortgages are arranged too. You get his recommendation based on your situation, even if it's not a reverse mortgage.
- Nothing to pay the broker. The brokerage is paid by the lender you choose, once the mortgage funds. Whatever you pay for the appraisal, the lender's set-up fee and your lawyer goes straight to them; none of it goes to the broker.
Promises about the pages themselves
- Ontario requires a brokerage's name and licence on its advertising, so both appear at the top and bottom of every page.
- No invented reviews, ratings or client stories. Worked examples say clearly that they are examples.
- All four lenders are named together, as plain facts, and none is favoured.
- The calculator and the fit check run on your own device and send nothing anywhere.
For anything about the website itself, use the contact page.