Reverse mortgages · Markham

Reverse Mortgages in Markham

Markham homeowners — from Unionville's historic streets to Cornell's newer homes — hold strong equity, and many want to stay close to family, schools and community.

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.

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Homes in Markham hold real equity

Markham blends heritage homes in Unionville, established family streets in Markville and Milliken, and newer communities like Cornell and Berczy. Many owners 55+ here are weighing one question: stay near the grandkids, or sell and move away.

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 Markham

We work with homeowners across Unionville, Markville, Milliken, Cornell, Berczy and Thornhill (Markham side). Markham is a large urban market served by every reverse mortgage lender. Our Thornhill office sits on Markham's doorstep at Yonge Street.

Staying vs. selling in Markham

One local advantage: Markham is outside the City of Toronto, so there is no Toronto municipal land transfer tax if you buy your next home here — only the provincial tax. Even so, selling costs real money (commission, moving, closing), and it moves you away from your street. Compare both paths: land transfer tax calculator and the honest downsizing comparison.

Questions Markham homeowners ask

Who qualifies for a reverse mortgage in Markham?

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 Markham 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.

Is a reverse mortgage better than selling my Markham home and moving away?

It depends on what you want. Selling frees the most money but costs commissions, moving and land transfer tax on the next home — and it moves you away from your community. A reverse mortgage costs interest but lets you stay. We price both paths honestly so you can compare.

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 Markham 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.