Reverse Mortgage Myths Busted! #4 of 5


Myth #4: "Reverse mortgages are expensive to set up."

This one’s not so clear-cut. Yes, setting up a Canadian Reverse Mortgage involves costs like a property appraisal and independent legal advice to protect your interests. But, when you compare it to alternatives like downsizing, reverse mortgages can actually help you avoid hefty land transfer taxes and realtor fees. That’s big savings right there!

Ultimately, it depends on your unique situation. Consulting with a trusted professional ensures you choose the solution that truly fits your needs.

Myth rating: It Depends. Getting expert advice is key!

For a limited time, I’m offering a FREE 30-min consultation to go over your mortgage options. DM me to schedule your 1-on-1 session!

Stay tuned for our final Myth #5!

Alexander Gasenko - your trusted Toronto & GTA mortgage broker. Dominion Lending Centres Maple Mortgage Group Independently Owned & Operated — FSRA# 13415

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