Can the lender ever force me to sell?

Only in narrow circumstances (failing to pay property tax, failing to maintain the home, or no longer occupying as your primary residence). As long as you meet those basics, you stay in the home as long as you want.

What happens to my estate?

On sale (typically after both owners pass away or move into long-term care), the loan and accrued interest are repaid from the sale. Whatever equity remains goes to your estate. The lender's negative equity guarantee means your estate is never on the hook for shortfalls.

Is the money taxable?

No. Reverse mortgage proceeds are loan proceeds, not income — they don't affect OAS, GIS, or your tax return.

For: Homeowners 55+

Reverse Mortgage

"I want to stay in my home but I need access to my equity."

A reverse mortgage lets you convert a portion of your home equity into tax-free cash without selling or moving. You maintain ownership; the loan is only repaid when you sell or no longer occupy the home.

Tax-free cash, no monthly payments
Stay in your home, retain ownership
Use funds however you choose
Available across Ontario for ages 55+

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Reverse Mortgage FAQ

Common questions

Real answers from a licensed Ontario mortgage broker.

No. That's the defining feature of a reverse mortgage — interest accrues against the loan balance. You can choose to make voluntary payments, but none are required.

Reverse Mortgage by City