Get Better Rates & More Money Than a CHIP Reverse Mortgage

Get a Home Equity Loan for Seniors
  • No Income Requirement
  • No Credit Requirements
  • Fast Easy Approval
  • Get Up To 65% of Your Home Value
  • Use Funds for Any Purpose
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Real Life Example of How Michael Got
More Money on His Reverse Mortgage

Recent Client Examples

Jason & Sarah (Age 69 & 68)

Property Value: $2.3M

Approved For: $815k

Goal: Travel and home renovations.

Michelle & Tom (Age 65 & 67)

Property Value: $750k

Approved For: $241k

Goal: Needed more money for expenses. Turned down for home equity loan.

Janet (Age 71)

Property Value: $650k

Approved For: $216k

Goal: Give $100k to each of her daughters.

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"As licensed mortgage brokers, we go above and beyond and work with all the leading financial institutions on behalf of our customers to find them the best reverse mortgage loans resulting in higher valuations and lower interest rates which means more funds for you."

Ajay Singh,
Managing Director







how much can I get from a reverse mortgage

What Makes This Home Equity Loan for Seniors Different From Other Loans?


No Monthly Payments: Unlike traditional loans, no monthly payments are required on any funds you receive.


No Minimum Income: Your loan approval amount will not be based on your annual income. Even if you only receive pension income, you will be approved for a home equity loan for seniors.


No Credit Requirements: You will still be approved for a home equity loan for seniors if you have bad credit.


Get Approved for More: Most retired homeowners will qualify for a larger senior's home equity loan than a traditional home equity loan.

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trust pilot reviews

Trustpilot Reviews

"My wife and I both get pensions but we were struggling to make ends meet with everything getting so expensive! Plus we were shocked to see how much my wife’s PSW was going to cost every month. After researching our options, we decided to work with to obtain a HELOC for seniors. The staff was incredibly patient and helpful, guiding us through the process step-by-step. Life is so much better now! We highly recommend to anyone facing similar challenges"

William, Vancouver

"I wanted to help my daughter and her family purchase a home but I was worried about my own financial stability. After speaking with Sunita at, I realized that a no payment HELOC was the perfect solution for my needs. She explained everything to me and even spoke with daughter to answer her questions. It was a great overall experience!”

John, Ottawa

"After my husband passed away, I was concerned about my ability to manage everything on my pension. After speaking with Stephanie at, I learned about the benefits of a reverse mortgage. She helped me with everything and now I have all the financial stability I need. Stephanie really made the process stress-free for me. I highly recommend to anyone looking for a way to live peacefully at home."

Susan, Toronto

"I wanted to buy a summer home in Florida but really didn’t want to sell my investments yet. Syed at showed me how I could use a Home Equity Loan for Seniors to get what I wanted. It really was the best thing for me. They are terrific people doing terrific work---thank you, guys!”

Michael, Oakville

“I wanted to renovate my home and live there as long as I could. The people at showed me how I could do that with a reverse mortgage. My home is perfect for my needs now and I am so comfortable and happy now!”

Elizabeth, Calgary

"Nobody tells you how expensive and stressful downsizing is and I thought that was the best way to save on costs. But I didn’t want to leave my home and lose all those memories or lose my independence. I am so happy now after getting a HELOC for Seniors and working with everyone at! I still keep in touch with them and consider them my friends.”

Michelle, Mississauga

Our Home Equity Loan for Seniors Approval Process

Get a home equity loan quickly and easily in just a few steps


Speak to one of our Home Equity Specialists

Explore your options with no obligations


Decide How You Want to Receive the Funds

Funds can be received in a lump sum or over time.


Sign Your Documents

We get all the paperwork ready for you to sign.


Enjoy Your Retirement

Enjoy your tax-free, payment-free loan.

how much can I get from a reverse mortgage

How Does a Home Equity Loan for Seniors Work?

We have partnered with Canadian banks that can offer home equity lines of credit designed exclusively for homeowners over the age of 55.

These Canadian banks are able to offer home equity loans for seniors at competitive interest rates.

There are no minimum income or credit score requirements for these home equity loans for seniors.

Your loan amount will be determined by the value of your home and your age, not your ability to make monthly repayments.

You have complete freedom to use the funds any way you wish. You receive the funds completely tax-free and there will be no reduction in your government benefits.

Unlike a traditional home equity loan, no monthly payments are required, and the loan is only paid back when you sell your home or move out.

You will stay as the owner of your home and will never over more than the value of your home.

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Qualifying for a Home Equity Loan for Seniors is Simple....

It's easy to qualify for a home equity loan for seniors in Canada. There are only 2 key requirements:


All homeowners must be at least 55 years of age


You must have at least 50% equity in your home

If you're looking for a home equity loan suitable for your retirement, speak to one of our agents to learn more details.

how much can I get from a reverse mortgage

Frequently Asked Questions

Find answers to common questions we receive.

What are the fees to get a home equity loan for seniors?

You must pay a setup fee to the lender, legal fees and a home appraisal fee. Seniors who get this type of a loan typically only pay for the appraisal fee out of pocket and this amount is approximately $500. The other fees can be paid from the home equity loan once it has been setup.

RetireBetter does not charge you for our services in arranging a home equity loan for seniors. We do receive compensation directly from the lender at no extra cost to you.

Contact us for more information about the fees to setup a home equity loan for seniors.

Can I get a home equity loan for seniors if I already have a mortgage?

Your existing mortgage will need to be paid off before you can access your seniors loan. You can use your own funds, the funds from your senior's home equity loan or a combination of both.

If you do not have sufficient funds of your own, then you will need to qualify for a large enough seniors home equity loan to pay off your existing mortgage.

RetireBetter can still help you if you do not qualify for a large enough seniors home equity loan to pay off your existing mortgage. Contact us to explore your options in these circumstances.

What are the interest rates for a home equity loan for seniors?

Since this product does not have income or credit requirements, and does not require monthly repayments of any kind, the interest rates are slightly higher than interest rates for traditional home equity lines of credit.

However, the interest rates remain very competitive and are much lower than credit card interest rates or personal loan rates.

Contact us to get the most current interest rates on a home equity loan for seniors.

Don't see your question? Contact us for more information.