This is a Ontario guide to reverse mortgage alternatives ontario. For the full national picture, see the national guide, and for everything specific to the province, the Reverse Mortgage Ontario hub.
HELOC and refinance
Both carry lower rates but require income qualification and monthly payments — often unavailable to retirees on fixed incomes at a meaningful amount. A HELOC is also callable.
Downsizing in Ontario
Downsizing releases equity in theory, but transaction costs — commissions, legal fees, land transfer tax, and moving — often consume $60,000–$80,000 of the gap. In Ontario, Toronto’s municipal land transfer tax on top of the provincial one makes this especially costly.
Registered-account draws and tax deferral
RRIF/RRSP withdrawals are fully taxable; TFSA withdrawals aren’t. Using a reverse mortgage to reduce RRIF withdrawals keeps taxable income lower. 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.
No-payment term mortgage
For homeowners under 55 or where a higher loan-to-value is the priority, a no-payment term mortgage is available in Ontario. It’s not a reverse mortgage — fixed term, renewal not guaranteed, full recourse.
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
Is a reverse mortgage better than downsizing in Ontario?
What’s the most tax-efficient way to access home equity?
Can I use property tax deferral in Ontario?
Talk to Matthew Hines, the Ontario-licensed agent behind this page — or read the Stanley-Hines story.