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Reverse Mortgage In Hamilton
Getting a Reverse Mortgage In Hamilton can be a daunting task. The reason is that the internet and commercials are inundated with advertising for Reverse Mortgage in Hamilton and elsewhere. It is very difficult to know who to trust.
Trust When Arranging a Reverse Mortgage In Hamilton
It is difficult to build trust on the internet. That is why we like to meet with people and speak on the phone. We even have a box full of thank you cards in the office. The next best thing for us are our Google reviews. These speak volumes for us when building trust with our new clients online.
CHIP Reverse Mortgage
CHIP is actually not the only reverse mortgage lender in Canada. There is one other but CHIP is the most prominent name. When considering a Reverse Mortgage In Hamilton, the key is to speak with an unbiased, honest consultant. Calling CHIP directly would be like going to a Chrysler dealership to ask their opinion on which car manufacturer is the best. They will sell you on their product only. This is why it is useful to speak with a mortgage broker who will give you unbiased advice when considering a mortgage or a reverse mortgage. A mortgage broker is not loyal to one particular product or brand.
Purpose Of A Reverse Mortgage
A Reverse Mortgage In Hamilton should not be considered as a first option. A reverse mortgage is a very niche product that should only be considered under very specific circumstances.
- Insufficient cash flow in retirement years
- Mortgage-free or lots of equity in the home
- Over 55 years of age
The purpose of a reverse mortgage is to release equity from the home. There are other ways of doing that but they all require the borrower to make regular payments:
- Conventional mortgage
- Home equity line of credit
The main advantages of a Reverse Mortgage In Hamilton is that it allows the retiree with limited income to access the equity in their home and remain living in it.
Robert Floris is a Mortgage Broker. His office is located at 236 Pritchard Road, Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 1-855-55-TRUST (87878).
Please click here to email us, make an appointment, receive an online assessment.
If you would like to see our Google reviews or leave one yourself, you can do so here.
Thanks for reading!
Robert Floris CFP, AMP
Lead Mortgage Agent
M08004919
1-855-55-TRUST
mortgages@robertfloris.com
Sean Howard BSc, MSc
Mortgage Agent
M17001956
905-966-1453
info@buildequity.ca
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