Jeff Cody is a fully licensed mortgage broker affiliated with Jeff Cody, Mortgage Architects. He has a financial background of 30+ years including three years working for CMHC, lending for several trust companies, business management, and offering top-notch advice to clients.
At Platinum Mortgages, guided by the experienced leadership of Jeff Cody, we specialize in providing Reverse Mortgage in Ottawa to help homeowners aged 55 and older access the equity in their homes without the burden of monthly payments. Unlike traditional mortgage products, a reverse mortgage allows you to receive funds as a lump sum, regular payments, or a combination of both, giving you flexibility and enhancing your retirement income.
Our team, consisting of Jeff, Justin, and Penny, is committed to guiding you through every detail of the reverse mortgage process, ensuring that your experience is as smooth and stress-free as possible. We understand that managing finances in retirement can be challenging, which is why we offer solutions that help maintain your lifestyle and financial independence.
A Reverse Mortgage in Ottawa can be the key to unlocking the equity you have built up in your home, providing you with the freedom to cover healthcare costs, complete home renovations, or simply enjoy a more comfortable retirement. At Platinum Mortgages, we take a compassionate and thorough approach to each client's unique situation, providing not just financial solutions but also peace of mind.
Unique Features: Our service offers the dual benefits of financial flexibility and the ability to stay in your home without the requirement of monthly mortgage payments.
Obtaining a Reverse Mortgage in Ottawa with Platinum Mortgages begins with an in-depth consultation to discuss your financial goals and needs in retirement. This step is essential to tailor a reverse mortgage plan that fits your specific situation.
Following the initial consultation, we conduct a thorough assessment of your property's value and your financial status. This evaluation serves as the basis for determining the amount of equity you can access through the reverse mortgage.
Once we have all the necessary information, we work with you to decide the best way to receive your funds based on your personal preferences and financial plans. Whether you need a lump sum to handle immediate expenses or regular installments to supplement your income, our team ensures that the terms are clear and beneficial to you.
The final step involves closing the deal, during which we handle all the paperwork and legal requirements, ensuring everything is compliant with federal and provincial regulations. Our team remains proactive and communicative throughout the entire process, ensuring that you feel supported and informed from start to finish.
Our Reverse Mortgage in Ottawa service is specifically designed to meet the needs of retirees who wish to access their home equity without losing their independence. By converting part of the equity of your home into cash, you can cover living expenses, pay for healthcare, or fund your hobbies without the burden of monthly mortgage payments.
Platinum Mortgages understands the importance of living comfortably in your retirement years. Our personalized approach ensures that each client receives a solution that not only meets their financial needs but also supports their lifestyle choices. With our guidance, clients gain the ability to manage their financial resources more effectively, ensuring they can enjoy their retirement to the fullest.
It's a loan available to homeowners 55 and older that allows them to access the equity in their home without monthly payments.
Unlike home equity loans, reverse mortgages do not require monthly repayments as long as the borrower resides in the home.
No, you can use the funds from a reverse mortgage however you see fit, whether for daily living expenses, travel, or healthcare.
If you sell your home, the proceeds from the sale would first be used to repay the reverse mortgage balance.
No, a reverse mortgage is a non-recourse loan, which means any debt beyond the home's value cannot be passed to heirs.
Interest rates vary based on several factors, including the lender and your financial situation.
Qualification depends on your age, the equity in your home, and other financial criteria.
Yes, there are fees associated with applying for a reverse mortgage, which we will detail during your consultation.
Contact Platinum Mortgages today to see how a Reverse Mortgage in Ottawa can transform your retirement into a period of prosperity and peace.
