Ottawa Reverse Mortgage


A husband and wife in their early seventies felt that they needed a little more cash on hand.  They were considering cashing in some of the limited investments they had left.  Here is an Ottawa reverse mortgage success story.

The couple is uneasy each day and the smallest financial upset is a big challenge for them.


Ottawa Reverse Mortgage


After they paid all their expenses each month, all that was left was about $225.  Also, their car was getting quite old.  In addition, their house was in need of crucial repairs.  Plus, their family asked to borrow some money and finances were at their limit.

However, they had a house that was paid in full and from a net wroth point of view were doing quite well.  Fortunately, after a simple reverse mortgage calculator, the couple saw that they were eligible to access up to $250,000 from their house, tax free.

Learn more: What is a CHIP Reverse Mortgage?

The couple used the funds for a newer car and house repairs.  Plus, the couple was able to give support for their family to help them buy a home and invested the rest in an investment that provided them with a monthly cashflow.  Now, they were finally able to book a trip to visit family they had aways wanted to do. 

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This truly was an Ottawa reverse mortgage success story. As a Certified Reverse Mortgage Specialist, I can answer any questions you may have about an Ottawa reverse mortgage.

andrew thake about

About Andrew Thake

Andrew Thake is a seasoned mortgage broker with over 15 years of industry experience. He’s assisted more than 2,200 clients in finding their ideal mortgage solutions. Recognized for his excellence, Andrew has received high honours and awards, including the National Rookie of the Year from TD Canada Trust and recognition as a Top 10 Ottawa Mortgage Broker in 2023. He has also been inducted into the Hall of Fame at Dominion Lending Centres and has consistently received their Platinum Award during his tenure as a mortgage broker.

Andrew’s dedication lies in serving his clients and prioritizing their needs with an empathetic approach. Throughout the application process, he provides tailored, informed, and efficient services to ensure the best mortgage solutions for his client’s unique circumstances. The best part of Andrew’s job is when he gets to see the joy on his clients’ faces following their mortgage approval.

Why not make your mortgage experience a comfortable one?

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