$700K Reverse Mortgage No Income Solution Helps Retired Couple Preserve Downtown Vancouver Home Equity

Client: Retired Immigration Consultants, Downtown Vancouver

Property Value: $1,200,000 CAD

Loan Amount: $700,000 CAD via Reverse Mortgage Facility

Our clients—a retired couple who spent decades operating a successful immigration consultancy—faced financial strain despite a modest $400,000 mortgage balance on their beloved Downtown Vancouver condo. Escalating property taxes and unexpected strata special assessments created a cash flow challenge. When their primary bank, CIBC, declined their refinancing request, they had limited options for foreclosure relief available to seniors.

We provided a strategic reverse mortgage solution through a Schedule I lender, structuring a $700,000 home equity reverse mortgage with no income verification and no ongoing payments—an ideal no income mortgage option for retirees.

This facility was secured at a competitive 6.5% fixed interest rate with no broker or lender fees, requiring only a one-time setup cost of $1,795.

Key benefits of this tailored reverse mortgage for retired homeowners included:

• Prepayment of property taxes for three years

• Establishment of a reserve fund for future strata special assessments

• Full preservation of remaining home equity

  
  

The entire process, from initial consultation through funding, was completed in under 30 days—providing immediate financial relief and peace of mind.

This case highlights how reverse mortgage financing can offer practical, dignified solutions for seniors in Downtown Vancouver, helping retirees leverage their home equity to maintain financial stability and continue living in their homes with confidence.

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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