Home & Commercial Mortgage Services - Northwood Mortgage
Call & Save

Northwoodmortgage Reverse Mortgages

Reverse Mortgages

Homeowners can access up to 40% of the current appraised value of their home based on the homeowners age and that of their spouse, and on the location and type of home. Funds are not taxed as income.

Funds can be received in a lump sum or over time. Most clients take a lump sum.
Any outstanding loans secured by the home must be retired with the CHIP Home Income Plan funds. Call 416-450-7653 today.


No regular payments are required.
The full amount only becomes due when the home is sold, or if both homeowners move out.
Clients have the option to repay the principal and interest in full at any time. Upon repayment, an interest rate differential may apply (maximum of three months’ interest).
A prepayment amount will apply on repayments within the first three years. This may be waived or reduced in the event of death or a move into a long-term care facility or retirement residence.


Available to homeowners 60 and older on their principal residence.
Location and type of home must qualify.
No medical, income or credit qualifications.

Related Links

please select the Square and then click the submit button.

Please wait...

Ask Us About Our
Mortgage Protection Plan inner-img
Call: 416-969-8130

For your Free Insurance Consultation or Email Us: info@northwoodmortgage.com

Today’s Special Rate:
1.4% Variable
View All Rates
Subscribe to Rate Watch

Get updates on the latest rates available through our Rate Watch Newsletter.

Please wait...
Do you want to be Mortgage FREE Faster?
Get Started

COMMUNITY Involvement
FEED the Need in DURHAM The Terry Fox Foundation GRANDVIEW CHILDREN'S CENTRE The Princess Margaret Hospital Foundation Key to Hope

102.1 TORONTO SUN.com THE FAN 590 680 News Q107 Talk Radio AM 640

Industry Associations
Filogix VERICO MPC Canadian Mortgage Brokers Association

Mortgage Resources
Equifax FCT Canada Mortgage and Housing Corporation Government of Canada


COMMUNITY Involvement
logo-1 logo-4 logo-5 logo-6 logo-7
logo-8 logo-9 logo-10 logo-11 logo-12
Industry Associations
logo-13 logo-14 logo-15 logo-16-1
Mortgage Resources
logo logo logo logo logo logo