Canada Reverse Mortgage A reverse mortgage is a loan available to Canadian homeowners age 55 or over. It allows them to access a portion of their home equity to help cover expenses, make home renovations, or simply improve their quality of life in retirement. How does reverse mortgage work in Canada?
Home equity line of credit Canada A home equity line of credit, or HELOC, is a type of home equity loan that allows you to borrow against the value of your home. You can use the money you borrow from your HELOC for any purpose, such as consolidating debt or making home improvements.