Reverse mortgages · Etobicoke

Reverse Mortgages in Etobicoke

From lakefront condos in Humber Bay to family homes in The Kingsway, Etobicoke homeowners 55+ hold serious equity — often in the home they have lived in for 30 years or more.

If you are 55 or older and own your home, you may be able to turn part of its value into tax-free cash — with no monthly payments, and without selling or moving. We are licensed Ontario mortgage professionals in the Dominion Lending Centres network, with our office at 7191 Yonge Street, Unit 305, Thornhill.

Get my free estimate How it works

Homes in Etobicoke hold real equity

Etobicoke mixes lakefront condo towers, solid mid-century family homes and some of Toronto's most established streets. Owners in areas like Markland Wood or Alderwood often own outright and want to stay near family and routines.

Across the GTA, the average home sold for about $1,069,700 in May 2026 (TRREB), with the benchmark near $946,500. Your own number is what matters: a reverse mortgage can unlock roughly 15%–55% of your home's appraised value, based mostly on your age. See how much you can get, by age.

We know Etobicoke

We work with homeowners across The Kingsway, Islington, Long Branch, Mimico, Alderwood, Markland Wood and Humber Bay. Etobicoke is part of the City of Toronto, so all reverse mortgage lenders serve it — houses and condos alike (condo buildings are reviewed for financial health).

Staying vs. selling in Etobicoke

One local detail matters here: Etobicoke is part of the City of Toronto, so buying your next home inside the city means paying two land transfer taxes — provincial and municipal. That makes downsizing within Toronto more expensive than most people expect, and it changes the stay-or-sell math. Run both: land transfer tax calculator and the honest downsizing comparison.

Questions Etobicoke homeowners ask

Who qualifies for a reverse mortgage in Etobicoke?

You must be at least 55, and so must everyone on the home's title. The home must be your main home, generally worth $250,000 or more. Income and credit matter far less than with a regular mortgage — age, home value and location drive approval.

How much can I get on a Etobicoke home?

Usually 15% to 55% of the appraised value. The older you are, the more you can unlock. Use the free calculator for your range — it takes about a minute, with no credit check.

Do Etobicoke condos qualify for reverse mortgages?

Generally yes. Urban condos qualify with most lenders, subject to the usual minimum value of about $250,000 and a healthy condo corporation. Lakefront buildings in Humber Bay and Mimico are routinely financed.

Is the money taxed? Will I lose OAS or GIS?

No. The money is a loan, not income. It is tax-free and does not reduce Old Age Security or the Guaranteed Income Supplement, as confirmed by the Financial Consumer Agency of Canada.

All reverse mortgage questions →

Prefer to talk? Call 905-597-5463 ext. 200 or send us a message. We serve all of Etobicoke and the rest of the GTA, in person or by phone.

Figures shown are estimates only — not an offer of credit or a commitment to lend. The amount you may qualify for depends on the lender's assessment of your age(s), property type, location, appraised value and any existing liens. Reverse mortgage lenders require independent legal advice before funding. A reverse mortgage is not suitable for everyone; alternatives include refinancing, a home equity line of credit, or downsizing.