Ep. 109 — Reverse Mortgages Canada Explained: Tax-Free Retirement Income from Your Home Equity

Could a Reverse Mortgage Help Fund Your Retirement?

For many BC homeowners, the house is worth a lot, but retirement cash flow can still be tight.

In Episode 109 of The Real Deal Pod, BC mortgage broker Geoff Lee breaks down how a reverse mortgage in Canada actually works, who qualifies, and how homeowners 55+ can access their home equity without selling.

One example involves a Vancouver couple who bought their home for $125,000 in 1985. Today, it’s worth approximately $1.9 million, but they’re still $850 short each month in retirement. Could their home equity help solve the problem?

What You’ll Learn:

• How a reverse mortgage works and who qualifies
• How much home equity you may be able to access
• Different ways you can receive the funds
• Why reverse mortgage proceeds generally aren’t taxable income
• Common myths about home ownership and inheritance
• How homeowners could use equity to improve retirement cash flow
• Using equity to pay off debt or help children with a down payment
• Funding accessibility renovations or a divorce buyout

Geoff walks through five practical examples to show where a reverse mortgage may fit and where it may not.

Also in Episode 109

Allister and Geoff discuss the August 2026 BC real estate numbers and the latest Eclipse Condo Crisis legal developments. They also look at how today’s BC home prices compare with the 2022 market peak.

A reverse mortgage isn’t right for everyone. But if you’re 55+, own a home with significant equity, and want more financial flexibility, it’s an option worth understanding before you rule it out.