This guide is designed to help Ontario homeowners understand:

What a reverse mortgage is
How reverse mortgages work in Canada
The potential benefits and drawbacks
Who they may be appropriate for
What alternatives should also be considered

For many Ontario homeowners, the family home represents their largest financial asset — yet much of that value may be tied up in equity. A reverse mortgage is one option that allows eligible homeowners to access some of that equity without selling their home or making monthly mortgage payments. However, reverse mortgages are not suitable for everyone, and understanding how they work — and their long-term impact — is essential before making any decisions.