Reverse mortgages · Mississauga

Reverse Mortgages in Mississauga

Mississauga has some of the GTA's most valuable family homes — and many of them are owned mortgage-free by people who bought decades ago.

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 Mississauga hold real equity

Much of Mississauga's housing is detached and semi-detached family homes from the 1970s to 1990s, plus newer condos near Square One. Long-time owners in areas like Erin Mills or Meadowvale often hold large equity in homes bought long before prices climbed.

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 Mississauga

We work with homeowners across Port Credit, Streetsville, Erin Mills, Meadowvale, Clarkson, Cooksville and Lorne Park. Mississauga is a major urban market. All of Canada's reverse mortgage lenders lend here, including Equitable Bank, whose published footprint is cities and large towns.

Staying vs. selling in Mississauga

One local advantage: Mississauga 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 Mississauga homeowners ask

Who qualifies for a reverse mortgage in Mississauga?

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 Mississauga 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 Mississauga homeowners pay Toronto's land transfer tax if they downsize?

Not if you buy in Mississauga or anywhere else in the 905. Toronto's municipal land transfer tax only applies inside the City of Toronto. Buying your next home in Peel or Halton means you pay only the Ontario tax — a real savings if you compare downsizing with borrowing.

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 Mississauga 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.