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Reverse Mortgages are a popular choice for homeowners who’ve built equity in their respective home. Marketed as a financial tool, Reverse Mortgages are designed by the federal government as a form of financial relief for homeowners 62 and older. It allows seniors to stay in their home, eliminate their current mortgage payment, and access their equity – tax-free! ​


  • Use as a line of credit

  • As a monthly payment

  • Use in a lump sum amount

  • Use in any combination of above options

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Unlike traditional “forward” home loans or second mortgages, no repayment is required until the homeowner(s) no longer occupies the property as their primary residence. Efinity Mortgage believes this program may carry excessive costs compared to alternatives and as such, strongly recommends to speak with one of our Licensed Financial Professionals to learn more.

How do Reverse Mortgages Work?

The application process is the same as any other loan. Your current loan (if you have one) will be paid off with your new reverse mortgage in essence eliminating any current mortgage payment you have. If you have additional equity, you can access that money, a benefit being tax-free. If your home is paid off, you can use a reverse mortgage to gain access to the equity that you have worked so hard to build.

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Who can get a reverse mortgage?

Any homeowner over the age of 62 can apply for a reverse mortgage. As the borrower, you must occupy the home as your primary residence. Reverse mortgages are based on your home’s equity – there are no income or credit requirements.


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