This is a Ontario guide to equity take-out mortgage ontario. For the full national picture, see the national guide, and for everything specific to the province, the Reverse Mortgage Ontario hub.
The equity take-out options
A conventional refinance or HELOC offers a lower rate but requires income qualification and monthly payments. A reverse mortgage requires neither — the trade-off is a higher rate and a growing balance.
Which fits a Ontario retiree
For a homeowner 55+ on a fixed income who can’t comfortably service a monthly payment, the reverse mortgage is frequently the only equity take-out that’s actually available at a useful amount. FSRA-licensed professionals can compare all routes.
The renewal structure to ask about
A competing reverse mortgage lender resets to best available rate at renewal; Canada’s longest-established reverse mortgage resets above market; and one lifetime rate product never resets. This renewal structure — not the opening rate — is the single biggest driver of long-term cost.
Property-tax and local notes
Ontario has no broad provincial property tax deferral program — coverage is municipal and varies, so keeping property taxes current is something to plan for directly.
Serving homeowners across Ontario
Matthew Hines works with homeowners throughout Ontario — including Toronto and North York, Ottawa, Mississauga, Hamilton, the Guelph and Kitchener–Waterloo corridor. As a FSRA-licensed mortgage agent, Matthew compares all major Canadian lenders on your specific file rather than steering you toward a single product.
Frequently asked questions
What is an equity take-out mortgage in Ontario?
Do I need to qualify on income?
How much equity can I take out?
Talk to Matthew Hines, the Ontario-licensed agent behind this page — or read the Stanley-Hines story.