Reverse Mortgages: Stay in the Home You Love, Use the Equity You've Built

You've spent decades paying for your home. A reverse mortgage lets your home give something back - without selling, downsizing, or taking on monthly payments. For many Canadians 55 and over, it's a practical way to fund retirement while staying right where they are.

I'm Lyndsy Pahl, a licensed mortgage broker serving all of British Columbia and Alberta. My job is to give you the plain, honest version of how these products work - the benefits and the trade-offs - so you and your family can decide with confidence.

How a Reverse Mortgage Works

If you're 55 or older, you may be able to borrow against a portion of your home's value. You can typically take the funds as a lump sum, regular deposits, or a mix. The money you receive is tax-free, and no regular payments are required - the loan (plus interest) is repaid when you sell, move, or from your estate. You remain the owner of your home throughout.

What People Use It For

Topping up retirement income, covering unexpected health costs, renovating to age in place, helping kids or grandkids with a down payment, or simply retiring an existing mortgage to end monthly payments.

Clearing Up the Myths

• "The bank will own my home." No - you stay on title and you remain the owner.
• "I could owe more than my home is worth." Canadian reverse mortgage providers offer negative equity protection: as long as you meet your obligations (like keeping up taxes and insurance), you won't owe more than the fair market value of your home when it's sold.
• "There'll be nothing left for my kids." Interest does add up over time - that's the honest trade-off. But you can only borrow a portion of your home's value, and in many markets, appreciation offsets some or all of the interest. I'll show you real projections so there are no surprises.

Is It Right for You? Maybe - Let's Find Out Honestly

A reverse mortgage is the right tool for some situations and the wrong one for others. Sometimes a refinance, a line of credit, or downsizing serves you better. I'll compare the options side by side in plain language, and I'll tell you the truth - even if the answer is "not this." I'm your advocate, and I work for you, not the banks. Family members are always welcome in the conversation.

This page is for general information only and is not financial advice. Reverse mortgage eligibility, amounts, rates, and terms vary by provider and are subject to change; conditions apply, including maintaining your property, taxes, and insurance. Every situation is different - contact me for advice specific to your circumstances. Lyndsy Pahl, Licensed Mortgage Broker, The Place to Mortgage, serving all of British Columbia and Alberta.