A website of Dominion Lending Centres Homestead Financial · Independently Owned and Operated · Brokerage Licence #11711 # Is a Reverse Mortgage Right for Me? 10 Questions | ReverseMortgageWhitby.ca > Is a reverse mortgage right for you? Ten plain questions for Whitby homeowners 55+ show whether it is worth a closer look, worth comparing first, or not a fit. URL: https://reversemortgagewhitby.ca/tools/reverse-mortgage-assessment/ # Is a reverse mortgage right for me? Ten questions to find out Is a reverse mortgage right for you? These ten plain questions about you and your Whitby home take about two minutes. Your result is one of three: worth a closer look, worth comparing first, or not a fit for now, with the reasons. Your Whitby answers stay on this device. [Get My Free Estimate](https://reversemortgagebroker.ca/estimate/?utm_source=reversemortgagewhitby&utm_medium=satellite&utm_campaign=reverse-mortgage-assessment) No cost · No credit check · No sales pressure Whitby fit check, question 1 1. What age is the youngest person on the title? Younger than 55 55 to 64 65 to 74 75 and up Whitby fit check, question 2 2. Do you live in this home for most of the year? Yes, it's where I live in Whitby No (a rental, cottage or second property) Whitby fit check, question 3 3. What kind of home is it? A detached house, semi or townhouse in Whitby or Brooklin A condo I own A rural property in north Whitby, on a well or septic A co-op unit, or a house on leased land Not certain Whitby fit check, question 4 4. How many more years do you plan to live in the home? Under 3 years 3 to 10 years As long as I'm able Whitby fit check, question 5 5. Roughly how much is still owing on the home? Nothing at all Under a third of its value A third to a half of its value More than half of its value I'm not sure Whitby fit check, question 6 6. What is the money mainly for? Clearing a mortgage, credit cards or a line of credit Extra income every month Changes to the home or help at home, so I can stay Helping a child or grandchild I haven't decided yet Whitby fit check, question 7 7. Could your income easily cover monthly payments on a bank line of credit? Yes, easily Possibly, but it would be tight No, or I'd prefer to avoid monthly payments Whitby fit check, question 8 8. How much does leaving the home's full value to your family matter to you? A great deal Somewhat Less than living well now Whitby fit check, question 9 9. Are your home insurance and property taxes paid up? Yes, both are Some property tax is overdue I get the Town's low-income seniors rebate I'm not sure Whitby fit check, question 10 10. Have you talked with your family about this? Yes Not yet Yes, and they're worried See My Result Choose an answer for each of the ten questions to see your result. Your result [Get My Free Estimate](https://reversemortgagebroker.ca/estimate/?utm_source=reversemortgagewhitby&utm_medium=satellite&utm_campaign=reverse-mortgage-assessment) [Read the Whitby guides](/guide/) ## About this check **What does my result mean?** You get one of three results: a reverse mortgage deserves a closer look, another option should be weighed beside it, or an answer you gave rules it out for now. Treat it as a first read, not advice for your own situation. **Are my answers saved anywhere?** No. Your answers never leave your device, and they disappear once you close or leave the page. --- Free reverse mortgage estimate (no sales pressure): https://reversemortgagebroker.ca/estimate/?utm_source=reversemortgagewhitby&utm_medium=satellite&utm_campaign=reverse-mortgage-assessment Operated by Dominion Lending Centres Homestead Financial, a mortgage brokerage licensed by the Financial Services Regulatory Authority of Ontario, brokerage licence #11711. Independently Owned and Operated. ReverseMortgageWhitby.ca is a website of Dominion Lending Centres Homestead Financial, not a separate brokerage. Richard Hopkins, Mortgage Broker, licence M16000896.