Unlock Your Innisfil Home Equity With a Reverse Mortgage
Stay in the home you love near Lake Simcoe while accessing tax-free cash—our local mortgage team can help.
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Why Innisfil Homeowners Choose Our Reverse Mortgage Team
With property values climbing across Simcoe County, a reverse mortgage lets you tap up to 55 % of your home’s value, tax-free, without monthly payments.
Our experienced Mortgage Team will guide you through your reverse mortgage options, explain every fee upfront, and ensure your estate stays protected. From Alcona to the cottages of Big Bay Point, our team lives and works where you do, so we understand Innisfil’s market and retirement goals.
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FAQs for Reverse Mortgages in Innisfil, Ontario
How does a reverse mortgage work in Innisfil?
We lend up to 55 % of your home’s appraised value and deposit the funds as a lump sum or in installments—no monthly payments required. Interest rolls up, and you repay the balance only when you sell, move, or your estate settles, similar to how neighbours on Innisfil Beach Road used a CHIP Mortgage to fund lakeside renovations without touching their pensions.
Will we still own our Innisfil home?
Absolutely—title stays in your name, and you remain listed with the Town of Innisfil just as before. The lender simply registers a mortgage charge, similar to any traditional refinance, so you keep full ownership and control over whether or when to sell.
Are reverse-mortgage proceeds taxable?
No—under Canadian law the money is a loan advance, so it’s completely tax-free and doesn’t affect CPP, OAS, or GIS. Many of our clients use the funds for upgrades before the Friday Harbour boat show or to help children with down payments—all without triggering extra income tax.
What happens when we move or pass away?
Your estate (or you, if you relocate) repays the loan and accrued interest from the sale proceeds. Because reverse-mortgage providers guarantee you never owe more than the home’s value, your heirs still keep remaining equity—important peace of mind for families in Bradford West Gwillimbury or Essa.
What fees should we budget for?
Expect an appraisal (≈ $300), independent legal advice, and a one-time setup fee that we roll into the mortgage when possible. We review every cost upfront and often refund the appraisal for lakeside properties near Innisfil Beach Park because those values help keep loan-to-value ratios low.
Please note: it’s always best to get in touch with our team so we can answer any specific questions and ensure the information is 100 % accurate for your situation.
