My Eligibility

You may be eligible for a PATH Home Plan equity release (reverse mortgage) if:

  • You are 55 years old or over and live in the major urban centres of Ontario, British Columbia, or Alberta.
  • Your home is your principal residence, meaning you live there for at least six months of a calendar year.
  • All title holders of the residence apply as joint borrowers.

Your guidelines include:

Minimum Property Value

$250,000

Minimum Borrowing Amount

$25,000

Your maximum borrowing amount:

The location of your property is considered when it comes to the maximum amount you may be able to borrow.*

Major Urban Centre or Large City

$800,000

Surrounding Area of a Large City

$600,000

Mid-Sized City or Retirement Community

$400,000

*The maximum borrowing amount may change based on the geographical location of the property. Please contact us for more information.

Your property must be:

Owner-occupied and not a secondary home or cottage.

Detached, semi-detached, condo, or townhome.

On a case-by-case basis, an owner-occupied rental (up to four units).

Your property cannot be:

Used for commercial purpose, a rental, mobile-home, co-op, acreage, or farm.

You should consider a different home-financing solution if:

  • You are applying as a business or trust
  • The property is your secondary home or cottage
  • The property is a commercial property, rental home, mobile home, co-op, acreage, or farm