Great Mortgages,

Made Simple

LET ME HELP YOU GET THE HOME OF YOUR DREAMS

Great Mortgages,

Made Simple

LET ME HELP YOU GET THE HOME OF YOUR DREAMS

Are you ready to achieve

FINANCIAL SUCCESS?

We are passionate about building life long relationships and teaching and

advising our clients how to improve their overall financial wellness

2500+

CLIENTS HELPED

700+

$ MILLION BORROWED

40+

YEARS COMBINED EXPERIENCE

As one of Canada’s top rated mortgage brokers, we believe everyone has the right

to access the best mortgage products and free independent mortgage advice that

is focused on achieving long term financial growth.

Based in Burnaby, BC, we serve all across Canada.

With a combined 40 years of experience, we know where to find the solution to your problems. We give you the best advice suited for you.

Guaranteed.

Are you ready to achieve

FINANCIAL SUCCESS?

We are passionate about building life long relationships and teaching and

advising our clients how to improve their overall financial wellness

2500+

CLIENTS HELPED

700+

$ MILLION BORROWED

40+

YEARS COMBINED EXPERIENCE

As one of Canada’s top rated mortgage brokers, we believe everyone has the right

to access the best mortgage products and free independent mortgage advice that

is focused on achieving long term financial growth.

Based in Burnaby, BC, we serve all across Canada.

With a combined 40 years of experience, we know where to find the solution to your problems. We give you the best advice suited for you.

Guaranteed.

Mortgage

Advice You Can

TRUST

We’ll advise you on the best ways to not only save but to

repay your mortgage as quickly as possible and improve your equity, and show you ways how you can take advantage of

this equity that you have built up, in order to increase your Wealth and Net Worth.

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Mortgage

Advice You Can

TRUST

We’ll advise you on the best ways to not only save but to

repay your mortgage as quickly as possible and improve your equity, and show you ways how you can take advantage of

this equity that you have built up, in order to increase your Wealth and Net Worth.

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Benefits of a Reverse Mortgage

Reverse Mortgages
October 18, 20224 min read

Benefits of a Reverse Mortgage | Heather Contant Mortgage

Table of Contents

Tax Free Cash

Remain in Your Home

Helping Family with a Reverse Mortgage

Live Your Retirement on Your Terms

A reverse mortgage can be a great solution for senior citizens who need extra money in retirement. A reverse mortgage allows homeowners to borrow against the equity in their home, and they don't have to make any payments on the loan as long as they live in the home. In addition, a reverse mortgage can provide seniors with extra money to cover medical costs, home repairs, and other important expenses. If you're a homeowner over age 55, a reverse mortgage may be a good option for you. Let’s dive into the benefits of a reverse mortgage.

Tax Free Cash

One of the main benefits reverse mortgage is a type of loan that allows seniors to tap into the equity in their home and receive tax-free cash. The amount of money that can be borrowed depends on the value of the home, the age of the borrower, and property type. Reverse mortgages can be used for any purpose, including home improvements, medical expenses, or living expenses and more. It doesn’t affect your current pension income. Despite what some people think, your current government pensions will not be affected by receiving fund from a reverse mortgage.

Remain in Your Home

As you age, most seniors want to remain in their home rather than going to an assisted living facility. As a senior, leaving your home and community can be devastating. It's hard to leave the people and places you have loved for many years, even decades. And it's hard to start over in a new place, you risk losing your friends and your sense of belonging. You can remain in your home and a reverse mortgage can make this possible by helping you with home care expenses, taking this burden off family members, renovating your home for mobility issues, or

maybe you lost your spouse, and your cash flow has been reduced. The equity is yours and you can use it however you deem necessary, whether for living expenses or sheer fun!

You’ve worked hard for your home, and it’s time to start working for you. By tapping into the equity in your home through a reverse mortgage, you can use that money to supplement your retirement savings and make the years ahead more comfortable. Give us a call today so we can discuss all the options available to you. We want to help you make the most of your home – both financially and emotionally.

Helping Family with a Reverse Mortgage

Ruth and John were so excited when their grandson Michael came to them asking for help in buying his first home. After doing some research, they found that a reverse mortgage was the best way to go. They didn't want to co-sign on the loan, as they felt there were too many risks at their age. But with a reverse mortgage, they could give Michael the money he needed and not have to make a mortgage payment. This way they could help Michael and it would not negatively impact Ruth and John.

A reverse mortgage can be a great way for seniors to help their families. Unlike many people think, a reverse mortgage does not impact the senior's financial situation. In fact, it can provide a with a living inheritance they can use however they please. This is a great way for seniors to help their loved ones while still maintaining control of their finances. The conservative lending guidelines of 55% loan to value have made the risk manageable for seniors. This ensures that they are not over-extended with their finances and can live comfortably in their own homes without having to worry about monthly mortgage payments.

Here are some of the ways our clients have used a reverse mortgage:

1. Paid themselves every month with a top up income

2. Taken a lump sum to renovate their home

3. Purchased a revenue property and will eventually downsize to the property

4. Consolidated debt and increased cash flow

5. Taken the family on a dream trip

6. Helped pay for grandchildrens’ education costs

7. Provided the down payment for family to purchase a home

…these are a few reasons…what is your reason?

*55% loan to value

The maximum loan-to-value ratio for a reverse mortgage is 55%. This means that the loan amount cannot exceed 55% of the property's value.

*government pensions

Your CCP, OAS and Guaranteed supplemental pension will not be affected by taking out equity from your home.

Heather Contant

Back to Blog

MORTGAGE SERVICES

Mortgage Purchasing

If you would like to purchase a home and require a mortgage we can assist…

We start with a 20 minute phone call. Often

we can address 99% percent of your

questions or concerns, and are able to

tell you how much of a mortgage you can qualify for.

Mortgage Renewals

Mortgage renewals advice and tips – if

your mortgage is coming up for renewal

we can show you how to avoid unsuitable products and terms, help you avoid

higher rates by finding you the best

possible mortgage rates…


Mortgage Refinancing

Are you considering refinancing your mortgage? We can assist you to find low-payment options, access to second/third mortgage financing, including private

source financing. Or even steps to

refinancing your mortgage…


Debt Consolidation

Do you want to use your mortgage to consolidate your debt to manage your

credit cards, car loans, taxes, bills, etc

better? We offer the best advice on how

to go about consolidating your debt using

your mortgage…


Separation Or Divorce

Divorce and mortgage questions – We

offer expert advice on what to do when

you are in the process of separation or

are recently divorced. Do you know

exactly what to do to safeguard your

most valued asset?


Reverse mortgages.

In addition to offering the standard

mortgage services in Canada that are

available from your neighbourhood

banks, The Mortgage Centre also offers mortgage special services. Special services

help people in special


Benefits of a Reverse Mortgage

Reverse Mortgages
October 18, 20224 min read

Benefits of a Reverse Mortgage | Heather Contant Mortgage

Table of Contents

Tax Free Cash

Remain in Your Home

Helping Family with a Reverse Mortgage

Live Your Retirement on Your Terms

A reverse mortgage can be a great solution for senior citizens who need extra money in retirement. A reverse mortgage allows homeowners to borrow against the equity in their home, and they don't have to make any payments on the loan as long as they live in the home. In addition, a reverse mortgage can provide seniors with extra money to cover medical costs, home repairs, and other important expenses. If you're a homeowner over age 55, a reverse mortgage may be a good option for you. Let’s dive into the benefits of a reverse mortgage.

Tax Free Cash

One of the main benefits reverse mortgage is a type of loan that allows seniors to tap into the equity in their home and receive tax-free cash. The amount of money that can be borrowed depends on the value of the home, the age of the borrower, and property type. Reverse mortgages can be used for any purpose, including home improvements, medical expenses, or living expenses and more. It doesn’t affect your current pension income. Despite what some people think, your current government pensions will not be affected by receiving fund from a reverse mortgage.

Remain in Your Home

As you age, most seniors want to remain in their home rather than going to an assisted living facility. As a senior, leaving your home and community can be devastating. It's hard to leave the people and places you have loved for many years, even decades. And it's hard to start over in a new place, you risk losing your friends and your sense of belonging. You can remain in your home and a reverse mortgage can make this possible by helping you with home care expenses, taking this burden off family members, renovating your home for mobility issues, or

maybe you lost your spouse, and your cash flow has been reduced. The equity is yours and you can use it however you deem necessary, whether for living expenses or sheer fun!

You’ve worked hard for your home, and it’s time to start working for you. By tapping into the equity in your home through a reverse mortgage, you can use that money to supplement your retirement savings and make the years ahead more comfortable. Give us a call today so we can discuss all the options available to you. We want to help you make the most of your home – both financially and emotionally.

Helping Family with a Reverse Mortgage

Ruth and John were so excited when their grandson Michael came to them asking for help in buying his first home. After doing some research, they found that a reverse mortgage was the best way to go. They didn't want to co-sign on the loan, as they felt there were too many risks at their age. But with a reverse mortgage, they could give Michael the money he needed and not have to make a mortgage payment. This way they could help Michael and it would not negatively impact Ruth and John.

A reverse mortgage can be a great way for seniors to help their families. Unlike many people think, a reverse mortgage does not impact the senior's financial situation. In fact, it can provide a with a living inheritance they can use however they please. This is a great way for seniors to help their loved ones while still maintaining control of their finances. The conservative lending guidelines of 55% loan to value have made the risk manageable for seniors. This ensures that they are not over-extended with their finances and can live comfortably in their own homes without having to worry about monthly mortgage payments.

Here are some of the ways our clients have used a reverse mortgage:

1. Paid themselves every month with a top up income

2. Taken a lump sum to renovate their home

3. Purchased a revenue property and will eventually downsize to the property

4. Consolidated debt and increased cash flow

5. Taken the family on a dream trip

6. Helped pay for grandchildrens’ education costs

7. Provided the down payment for family to purchase a home

…these are a few reasons…what is your reason?

*55% loan to value

The maximum loan-to-value ratio for a reverse mortgage is 55%. This means that the loan amount cannot exceed 55% of the property's value.

*government pensions

Your CCP, OAS and Guaranteed supplemental pension will not be affected by taking out equity from your home.

Heather Contant

Back to Blog

OFFICE HOURS

Monday-Friday: 7:00 – 17:00

Saturday: 8:00 – 16:00

Sunday: By Appointment

Holidays: Closed

THE MORTGAGE SPECIALIST

We are Canada’s top rated mortgage brokers based in Burnaby, BC, Canada since 2000. With our experience, you will get the Best Mortgage Rates. Guaranteed.


OUR SERVICES

Mortgage Purchasing

Mortgage Refinancing

Mortgage Renewals

Debt Consolidation

Separation or Divorce Solutions

Reverse mortgages.

AREAS WE SERVE

Abbotsford

Burnaby

Coquitlam

Delta

Langley

New Westminster

North Vancouver

Pitt Meadows

Port Moody

Richmond

Surrey

Vancouver

Coal Harbour

False Creek

Kerrisdale

Mount Pleasant

Shaughnessy

CONTACT

OUR MAIN OFFICE

#227 – 5589 Byrne Road Burnaby, BC. V5J 3J1


CALL US

(778) 996-7283


EMAIL

heathercontant@outlook.com


MORTGAGE SERVICES

Mortgage Purchasing

If you would like to purchase a home and require a mortgage we can assist…

We start with a 20 minute phone call. Often

we can address 99% percent of your

questions or concerns, and are able to

tell you how much of a mortgage you can qualify for.

Mortgage Renewals

Mortgage renewals advice and tips – if

your mortgage is coming up for renewal

we can show you how to avoid unsuitable products and terms, help you avoid

higher rates by finding you the best

possible mortgage rates…


Mortgage Refinancing

Are you considering refinancing your mortgage? We can assist you to find low-payment options, access to second/third mortgage financing, including private

source financing. Or even steps to

refinancing your mortgage…


Debt Consolidation

Do you want to use your mortgage to consolidate

your debt to manage your

credit cards, car loans, taxes, bills, etc

better? We offer the best advice on how

to go about consolidating your debt using

your mortgage…

Separation Or Divorce

Divorce and mortgage questions – We

offer expert advice on what to do when

you are in the process of separation or

are recently divorced. Do you know

exactly what to do to safeguard your

most valued asset?


Special Services

In addition to offering the standard

mortgage services in Canada that are

available from your neighbourhood

banks, The Mortgage Centre also offers mortgage

special services. Special services

help people in special