Unlocking the Potential of Reverse Mortgages

Josh Perez • April 19, 2024

In my experience as a financial advisor, I've noticed that reverse mortgages often carry a veil of uncertainty or even negativity. However, I believe it's crucial to shed light on their true potential, especially for individuals at a certain stage in life, like many baby boomers.

"Would you rather safeguard your equity and potentially compromise your quality of life, or leverage that equity to enhance your current situation?"

Let's delve into a common scenario: You've diligently built equity in your home over the years, but now you're faced with decisions about its future. Perhaps you're contemplating downsizing or selling to access that equity. But what if your home still holds immense sentimental value and meets most of your living requirements? What if a few renovations or adjustments could make it the perfect abode for your evolving lifestyle? This is where the true value of a reverse mortgage shines through.


Some may argue that borrowing against your home's equity depletes your financial assets. However, let's broaden our perspective. Would you rather safeguard your equity and potentially compromise your quality of life, or leverage that equity to enhance your current situation?


Consider this: You possess a substantial $2 million in home equity. By utilizing a portion of that equity through a reverse mortgage, you're left with $1.5 million. Is that still sufficient to leave a legacy for your loved ones or support your family? Meanwhile, the funds you've unlocked can finance your comfortable stay in your home, facilitate necessary renovations, cover healthcare expenses, enable travel, or aid your family. And all the while, you maintain ownership of your appreciating asset.


It's about reframing the narrative and recognizing the long-term benefits of tapping into your home's equity through a reverse mortgage. Rather than viewing it as a drain on your financial resources, perceive it as a pathway to improving your quality of life and maximizing your assets.


Ultimately, the decision to pursue a reverse mortgage warrants careful consideration tailored to your unique circumstances. But I urge you not to dismiss it without fully grasping its potential to unlock opportunities for a brighter future.

Josh Perez
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Deposit vs. Down Payment: Key Differences for Homebuyers

By Josh Perez • February 18, 2026
When you’re buying a home, two terms often cause confusion: deposit and down payment . While they’re related, they serve very different purposes in the homebuying process. Here’s what you need to know. What Is a Deposit? A deposit is the money you provide when you make an offer on a property. Think of it as a show of good faith that proves you’re serious about purchasing. How it works : Typically, you provide a certified cheque or bank draft that your real estate brokerage holds in trust. If your offer is accepted, the deposit remains in trust until the deal moves forward. If negotiations fall through, the deposit is refunded. Connection to your down payment : Once the sale is finalized, your deposit becomes part of your total down payment. Why it matters : The amount is negotiable, but a larger deposit can make your offer more attractive in a competitive market. Keep in mind, however, that if you back out after conditions are removed, you risk losing your deposit. What Is a Down Payment? Your down payment is the amount you contribute toward the purchase price of your home when securing a mortgage. Minimum requirement : In Canada, the minimum down payment is 5% of the home’s purchase price. Anything less than 20% requires mortgage default insurance. Sources : Down payments can come from your savings, the sale of another property, RRSP withdrawals (through the Home Buyers’ Plan), a gift from family, or even borrowed funds. Example: How They Work Together Imagine you’re buying a $400,000 home with a 10% down payment ($40,000). When you make your offer, you provide a $10,000 deposit . Once conditions are met, that deposit is transferred to your lawyer’s trust account. At closing, you add the remaining $30,000 to complete your full down payment. The lender provides the rest—$360,000—through your mortgage. The Bottom Line Your deposit shows commitment and secures your offer, while your down payment is what makes the mortgage possible. Together, they work hand in hand to get you into your new home. 📞 If you’d like clarity on deposits, down payments, or any other part of the mortgage process, let’s connect. I’d be happy to walk you through it step by step.
Cozy armchair next to a small wooden table with a mug and an open book. Sunlight streams through a window.

Is a 5% Down Payment a Mistake? Here’s the Unpopular Truth.

By Josh Perez • February 15, 2026
Discover why a 5% down payment isn’t always irresponsible. Learn when a low down payment is a smart financial move for Ontario homebuyers and when it’s a risk.