Invis Westcoast Mortgages - Reverse Mortgages

Invis Westcoast Mortgages - Reverse Mortgages Monica Peckford has been a successful Mortgage Broker since April 2001 serving Powell River and area sources for information.

Here, below, are the bank’s ‘Top 10 Facts That Will Make You Change Your Mind on Reverse Mortgages':

1) Once you are approved for a reverse mortgage, you are approved for life.
2) You can qualify for a reverse mortgage regardless of your credit rating or income level.
3) You will still have equity left in your home. Even after arranging a reverse mortgage, in most cases, HomEquity Bank clients ha

ve an average of 50% of the equity left in their homes.
4) You can’t sign final documents without first receiving Independent Legal Advice. That means all Canadian seniors must receive independent counsel before a reverse mortgage can be arranged.
5) Arranging a reverse mortgage is not complicated. Some seniors have described arranging a CHIP reverse mortgage as ‘the simplest financial transaction ever arranged.’
6) Reverse mortgage rates are as low as Prime plus 1.25%
7) Money is of course tax free, and can help you lower your overall tax liability.
8) If one spouse dies, there are no changes to the terms of the reverse mortgage. The loan does not have to be repaid and you don’t have to requalify.
9) Reverse mortgages provide you with an opportunity to diversify your retirement portfolio.
10) We have different rules in Canada when it comes to reverse mortgages, so don’t look to U.S.

Are you 55+ and wondering if a reverse mortgage is right for you? I'm a certified reverse mortgage expert. Call anytim...
02/01/2023

Are you 55+ and wondering if a reverse mortgage is right for you? I'm a certified reverse mortgage expert. Call anytime with no obligation to find out how much you can qualify for. 604.483.1718

Confused about penalties? Call or text 604.483.1718
01/28/2022

Confused about penalties? Call or text 604.483.1718

Have a happy and safe Halloween
10/31/2020

Have a happy and safe Halloween

604.483.1718
09/02/2020

604.483.1718

Early advice can save time, money, and stress! The process of qualifying for a should begin before you buy a home. Let...
08/26/2020

Early advice can save time, money, and stress!

The process of qualifying for a should begin before you buy a home. Let's start with a conversation for advice on downpayment, determining what you can afford, understanding all of the costs involved in buying a home, budgeting, improving your credit, mortgage features beyond rate like prepayment options, refinancing penalties, restrictions and more.

Get off on the right foot on your homebuying journey!

Great news for Canadians getting a high ratio insured mortgage. Call or text for details 604.483.1718
06/10/2020

Great news for Canadians getting a high ratio insured mortgage. Call or text for details 604.483.1718

Some good news on the . Contact me today to find out what this means to you. 604.483.1718
05/22/2020

Some good news on the . Contact me today to find out what this means to you. 604.483.1718

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4545 Marine Avenue
Powell River, BC
V8A2K5

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