Reverse Mortgages in Pickering

Why Pickering Homeowners Are Looking at Reverse Mortgages

Pickering's older neighbourhoods south of Highway 401 have many homeowners with significant equity from decades of ownership.

For homeowners aged 55+ in Pickering, a reverse mortgage offers a way to access this equity tax-free, without selling, moving, or making monthly payments — while continuing to live in the home you love.

What You Could Qualify For in Pickering

Based on the typical Pickering home value of approximately $950,000, here's a rough estimate of what homeowners might qualify for at different ages:

• Age 60: approximately $228,000 to $285,000
• Age 70: approximately $399,000 to $456,000
• Age 75: approximately $456,000 to $503,500
• Age 80+: approximately $522,500 (cap at 55%)

For your specific situation, use the free calculator or book a 15-minute call.

How Pickering Homeowners Use Reverse Mortgage Funds

• Eliminating an existing mortgage to free up monthly cash flow
• Funding home renovations to age in place comfortably
• Helping adult children with their first home down payment
• Supplementing retirement income to maintain lifestyle
• Covering healthcare or in-home care costs
• Paying off high-interest debt (credit cards, lines of credit)
• Travel, family time, and quality of life expenses

Local Service, Ontario-Wide Reach

EquityFreedom.ca is operated by The Cornerstone Mortgage Group Inc., FSRA-licensed in Ontario (Brokerage #13672). We work with both Canadian reverse mortgage lenders — HomeEquity Bank (CHIP) and Equitable Bank — to find the best fit for your specific situation in Pickering.

Consultations happen by phone or Zoom. No need to travel or take time off — your free 15-minute call can happen on your schedule, from your kitchen table.

If you're considering staying in your current home long-term, you may also want to read what residents say about your neighbourhood — and if you have grandchildren, check the local school rankings.