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ReverseMortgageMississauga.ca

Is a Reverse Mortgage Right for Me? Take the 10-Question Fit Check

Ten plain questions about you and your Mississauga home, about two minutes, to see whether a reverse mortgage is right for you. The result is one of three: worth a closer look, weigh it against other options first, or ruled out for now, with the reasons.

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No cost and no sales pressure, and asking for an estimate has no effect on your credit.

Question 1

1. Thinking of everyone on the title, what is the youngest person's age?

Question 2

2. Do you live in this house or condo for at least half the year?

Question 3

3. Which best describes the property?

Question 4

4. If things go to plan, how much longer will you live there?

Question 5

5. Is anything still owing against the property?

Question 6

6. What would you use the money for first?

Question 7

7. Picture a bank line of credit that needs a payment every month. Would your income cover it?

Question 8

8. How much does passing on the full value of the house matter to you?

Question 9

9. Are the property tax and the home insurance up to date?

Question 10

10. Have you mentioned this to your family?

About this check

What will the result tell me?

One of three things: a reverse mortgage deserves a proper look, another option may fit you better, or something in your answers rules it out for now. Treat it as a starting point rather than advice.

Does anyone see my answers?

No. They are scored on your own device and vanish when the page closes.

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