$600,000 Reverse Mortgage in Abbotsford Unlocks Home Equity for Retired Investor with No Income Verification

Client: Retired Homeowner, Abbotsford

Home Equity: $1,500,000 CAD (Unencumbered Principal Residence)

Loan Amount: $600,000 CAD via Reverse Mortgage Facility

We assisted a retired homeowner in Abbotsford who owned her home outright, valued at $1.5 million. She sought to invest in a $600,000 income-generating property in Penticton but was declined by a major bank due to lack of traditional income—necessitating a no income mortgage solution.

Recognizing her untapped home equity as a valuable asset, we arranged a reverse mortgage through a Schedule I lender. This home equity reverse mortgage allowed access to $600,000 in capital with no income verification, secured at a competitive fixed rate of 6.5%.

Funds were fully disclosed and approved by the lender for use in acquiring a real estate investment designed for long-term returns. Thanks to fast-track underwriting and expert guidance throughout the process, approval was secured within two weeks and full funding completed in under 30 days.

Outcome: The client successfully acquired the investment property without compromising her retirement savings or monthly cash flow.

This case highlights how a tailored reverse mortgage for investment offers an effective financing alternative for retirees. When traditional lending options are limited, leveraging home equity through private financing solutions can create strategic growth opportunities.

Discover how we’ve helped clients secure the funding they needed by exploring our case studies. Visit our services page to see everything we can do for you.

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