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:
Your maximum borrowing amount:
The location of your property is considered when it comes to the maximum amount you may be able to borrow.*
*The maximum borrowing amount may change based on the geographical location of the property. Please contact us for more information.
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