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Reverse Mortgage Breakdown

What is a reverse mortgage?

A reverse mortgage is an equity product available for those 55+ that allows you to tap into your equity without making a monthly payment.

They can be fairly conservative in how much they lend, and it’s based on age and property. The older the client, the higher the approved limit.

You never have to make any payments, the interest simply accrues and is paid back when you move/sell.

On average, a house appreciates 2.5%-3 per yr so this helps make up for the accruing interest, leaving clients with plenty of equity in the end.

Reasons to get a reverse mortgage:

Equity rich – All your retirement is tied up in the house, but you’re not ready to sell. Using the home as part of the financial plan, clients can preserve investments, pay less tax, and often have a greater net worth in the end.

Helping family – Home values have risen, and often times the plan is to leave the house to children or grandchildren as an inheritance. A reverse mortgage is a way to access some of that inheritance money today, gift it now, enjoy the giving, and see your family benefit much earlier in life.

Purchasing a new home – Some clients are moving to that just right, final home, but finding they cost more than anticipated. A reverse mortgage can be used to buy a new home, allowing clients to afford a much higher priced home, or keep more cash on hand.

Aging parents needing home care – As we age, sometimes a little additional help is needed to stay in the home. Instead of selling and moving to a care home or assisted living, some clients prefer to stay in the house and have in-home care. A reverse mortgage is a great way to access the equity in the home, month by month, to pay for those care costs.

There are different ways to set up your reverse mortgage. You can pull all funds upfront, or you can have a line of credit that you pull from monthly like an allowance. And only pay interest once funds are used.

If you have any questions regarding this update, please don’t hesitate to reach out to us today at We would be happy to review your current mortgage, financial goals, and future plans to help determine the best solution to fit YOUR needs.


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages.

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020 Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at or at 604-802-3983.

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