Edmonton Reverse Mortgage Week! Post 1: What Is A Reverse Mortgage

What Is a Reverse Mortgage?

Reverse mortgages let you tap up to 55% of your home equity, tax-free — no monthly payments while you live there. Here's how they work.

Why reverse mortgages are having a moment

The number of reverse mortgages in Canada has almost tripled over the past 5 years. Interest keeps accelerating right across the country.

That surge comes with a lot of noise — so this week we're cutting through the misinformation and covering everything you need to know about reverse mortgages.

The basics: what a reverse mortgage actually does

A reverse mortgage (the main one in Canada is called CHIP) lets you access up to 55% of the equity in your home, tax-free. You don't make monthly payments while you live there.

That money can increase your cash flow, eliminate debt, or help you check a few things off your bucket list. Many retired Canadians in your shoes have used it to turn their fortunes around.

Want to see if it fits your retirement?

If you'd like to learn how a CHIP Reverse Mortgage might help you live more comfortably, let's talk. Reach out at [sayhello@hellomortgage.ca](mailto:sayhello@hellomortgage.ca) and we'll walk through your situation together.

Matt Broom-Hall · Founder & Mortgage Broker · Say hello →

Keep reading

More on refinance & heloc.

Put your equity to work — refinancing, HELOCs, consolidating debt and what breaking a mortgage really costs.

Everything on Refinance & HELOC → · Strategy Vault

How it works

We turn “what now?” into “we’ve got this.”

A clear process, real underwriting upfront and a team that keeps things moving.

  1. Talk to real humans. Who come with a plan. Tell us what you’re trying to do. We’ll ask the right questions, explain what matters and map out the smartest way forward.
  2. Send the paperwork. We do the mortgage math. Our team reviews everything upfront. Because surprises are fun at birthday parties—not during financing.
  3. Mortgage approved. We keep it moving. We manage the lenders, conditions and deadlines while keeping you updated when it actually matters.

Straight from Google

Our clients say it better.

Read our Google reviews

Let’s make your mortgage make sense.

Ready to apply—or still figuring out what’s possible? Start with a conversation. No pressure. No mortgage-speak. Just a clear plan.

Your Alberta mortgage questions live here.

Whether you’re buying, renewing, refinancing or simply trying to make the numbers behave, start with the service—or the Alberta community—that feels most like home.