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At Genesis Reverse Mortgages, we specialize in helping Ontario residents access the TAX FREE EQUITY in their home AND enjoy a more comfortable and secure retirement with NO monthly mortgage payments. Discover how a Reverse Mortgage can provide you with the financial freedom you deserve.
There are NO bad questions, call us Toll Free. Genesis Reverse Mortgages is
- Experienced
- Accountable
- Supportive
- Integrity since 1985
- Guaranteed Savings
- Private and Confidential
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Saving you time and effort since 1985.
Our Service to You is Absolutely Free.
NO hidden fees and NO bad questions.
Access Your Home Equity Income Tax-Free.
Let’s discuss Reverse Mortgage products
We are dedicated Reverse Mortgage brokers!
Call Rob Munn and his son Lucas Munn at Genesis Reverse Mortgages for help to find the best Reverse Mortgage product and rate available to meet your financial needs
Our brokerage service is absolutely FREE to assist you in making the right decision, there are NO hidden fees.
Call Us Toll Free (866) 410-4740 to discuss Reverse Mortgages.
There are NO bad questions.
Reverse Mortgages have NO monthly mortgage payments and you don’t have to sell or move.
Stay in the Home You Love with a Reverse Mortgage.
Genesis Reverse Mortgages, Brokers serving clients since 1985…..
Accessing Your Money With A Reverse Mortgage
- Taking the money as a one-time lump sum.
- Taking some of the money up front and the rest over time monthly OR quarterly.
Reverse Mortgage Money can be Used for Anything you Wish
• Pay for home repairs or improvements.
• Pay off credit card debts
• Help with regular bills.
• Cover healthcare expenses.
• Repay debts.
• Gift to family or friends.
Our brokerage service is absolutely FREE, no hidden fees.
We can save you the time and effort to research ALL the options before YOU Choose.
Supporting you with experience, integrity, value and savings.
No hidden fees and No bad questions.
Why Choose Us?
We provide clients with the FREE service and support they deserve in all their Reverse Mortgage needs.
Our brokerage fee comes directly from the lenders, there are no hidden fees.
Expert Guidance
Genesis Reverse Mortgages will ensure that you make an informed decision to suit your financial goals. Let’s compare lenders first before you choose.
Customized Solutions
Genesis Reverse Mortgages offers personalized reverse mortgage solutions comparing all lenders and their products to your unique needs and circumstances. We are 100% private and confidential.
Trusted Partner
Licenced since 1985, Rob Munn as your Principal Broker provides years of experience and a commitment, as we are a trusted partner for homeowners across Ontario. Lucas Munn is our licensed Mortgage Agent Level 1.
Access Your Home Equity Income Tax Free.
Let’s Compare First Before You Choose.
Call our Reverse Mortgage Experts Today!
Benefits to a Reverse Mortgage
Call Rob Munn and his son Lucas Munn to discuss the Tax Free Benefits of a Reverse Mortgage. Lender discounts available through our brokerage. We are bound to the Privacy and Confidentiality of all our clients. Remember, there are NO bad questions.
- Experienced
- Accountable
- Supportive
- Integrity since 1985
- Guaranteed Savings
- Private and Confidential
✓ A Reverse Mortgage will not affect your OAS or CPP.
✓ Use the Tax-Free money as a lump sum or by instalments.
✓ Pay off debts and No monthly mortgage payments.
✓ Tax-Free money for Retirement.
✓ Update your home without depleting your current savings.
✓ No regular monthly mortgage payments for homeowners.
✓ Maintain ownership and control of your home.
✓ You never have to sell or move.
✓ Keep all the remaining equity in your home after it is sold.
COMPARE FIRST before you choose
With a Reverse Mortgage you are able to access the equity in your home tax-free.
You maintain ownership of your home with no monthly payments to worry about.
The tax-free money you receive can be used in a variety of different ways including.
- Eliminate debt repayments.
- Increase your monthly cash flow.
- Help a child or grandchild.
- Early inheritance.
- Cover unexpected health care costs.
- Home repairs and renovations.
- Take your dream vacation and much much more.
Let us help you compare rates and lenders first and then YOU can decide.
All without having to move or sell your home.
Access Your Home Equity Income Tax Free.
Let’s Compare First Before You Choose.
Call our Reverse Mortgage Experts Today!
Definition of a Reverse Mortgage
A Reverse Mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property.
The loans typically do not require monthly mortgage payments. Borrowers are still responsible for property taxes, property maintenance and homeowner’s insurance.
Reverse mortgages allow “older” people (55+) registered on title to immediately access the home equity they have built up in their homes, and defer payment of the loan until they die, sell, or move out of the home.
To be eligible, the home you’re using to secure a Reverse Mortgage must be your primary residence. This typically means you live in the home for at least 6 months a year.
Because there are no required mortgage payments on a Reverse Mortgage, the interest is added to the loan balance each month.
You may usually borrow up to 55% of the current value of your home, subject to certain lender restrictions listed below.
This money doesn’t affect the Old Age Security (OAS) or Guaranteed Income Supplement (GIS) benefits you may be getting.
Your Eligibility for a Reverse Mortgage requires the following:
- Your age and the age of your partner both 55+.
- Canadian homeowner living in Ontario.
- As your primary residence of 6 months plus 1 day.
- Your home’s age along with the condition.
- Your home’s construction type and location.
- Appraised value of at least $250,000.
Our service to assist you is absolutely FREE.
We can save you the time and effort.
No hidden fees and No bad questions.
Access Your Home Equity Income Tax Free.
Let’s Compare First Before You Choose.
Call our Reverse Mortgage Experts Today!
How It Works
We can save you the time and effort to research ALL the options before YOU Choose.
1
Consultation
Contact us for a free, no obligation consultation. We’ll discuss your needs and explain how a Reverse Mortgage works.
2
Application
If you decide to proceed, we’ll help you complete the application and handle all the paperwork.
3
Approval & Funding
Once approved, you’ll receive the funds either as a lump sum, monthly or quarterly payments, whichever works best for you.
4
Enjoy Your Freedom
Freedom with NO monthly mortgage payments.
Pros
✓ No regular loan payments.
✓ Turn some of the value of your home into cash, without having to sell it.
✓ No income tax on the money you borrow.
✓ This money will not affect the Old-Age Security or Guaranteed Income Supplement benefits you may be getting.
✓ Maintain ownership of your home.
✓ Explore the options as to when and how you receive the money.
Cons
✓ Interest rates are somewhat higher.
✓ Compare the equity of your home over time, ie: interest payments vs appreciation in value.
✓ Your estate will have to repay the loan and interest in full within a set period of time.
✓ Value of your estate depending on how you used the Reverse Mortgage funds.
Genesis Reverse Mortgages: Reverse Mortgage Myths
Below are Reverse Mortgage facts as separated from the underlying myth for you to review.
• Myth: The bank owns the home.
Fact: You always maintain title ownership and control of your home, along with the freedom to decide when and if you’d like to move or sell. Live in the home you love.
• Myth: A Reverse Mortgage is a solution of last resort.
Fact: A Reverse Mortgage is a financing option to consider because it’s a great way to provide financial flexibility. Since it’s tax-free money, it allows a homeowner the option to consider the benefits of a Reverse Mortgage. The last resort would be to sell your property.
• Myth: I’m paying interest on the interest that is added on to the amount of money you borrow.
Fact: Simply NOT true. Interest for a Reverse Mortgage is only charged on the INITIAL amount of money that you actually borrow with the lender. There is absolutely NO compounding of interest.
• Myth: You will owe more than your home is worth when it comes time to sell.
Fact: There is a NO negative net value or equity guarantee. Meaning, you will NOT owe more than market value and this is specified in your mortgage commitment with any of the lenders.
• Myth: You cannot get a Reverse Mortgage if you have an existing mortgage.
Fact: A Reverse Mortgage can pay off the existing mortgage and other debts to free up cash flow.
• Myth: I qualify for $275,000 Reverse Mortgage but I only want $150,000 and I am paying interest of the full amount ($275,000).
Fact: You are only charged interest on the amount of the actual money borrowed.ca
Access Your Home Equity Income Tax Free.
Let’s Compare First Before You Choose.
Call our Reverse Mortgage Experts Today!
About Us
Our Professional Goals
- Our mortgage broker licence began in 1985.
- Supporting you with experience, integrity, value and savings guaranteed.
- NO hidden fees and NO bad questions.
- Reverse Mortgages are available up to 55% of appraised value.
- To make Reverse Mortgage funding a seamless endeavour.
- Reverse Mortgage rates are updated as they change.
- Reverse Mortgage lending is available for virtually any financial reason that applies to you.
- Reverse Mortgage financing is tailored to the needs of you as the client, you do have choices.
- Refinance existing mortgages with a Reverse Mortgage.
- To meet with you personally depending on location in Ontario.
- We provide the service and support our client’s deserve in all their Reverse Mortgage needs.
We can save you the time and effort to research ALL the options before YOU Choose.
What They’ve Said About Us
We take pride in helping homeowners achieve financial stability and peace of mind.
Access Your Home Equity Income Tax Free.
Let’s Compare First Before You Choose.
Call our Reverse Mortgage Experts Today!