Financing Options

Financing Options

Own a home but are cash-strapped to pay for home care?  Livewell Pathway in partnership with Livewell Mortgage Plus can help.

Mortgages for Seniors

You or your loved one needs extra care and support at home, but if you are on a fixed income or access to liquid funds is an issue, you have options. Often, at this point in your life, you have no mortgage but all your equity is tied up in your home.

You can use the equity you've built up in your home to access the funds you need. There are several options available, including:
  • an Equity Line of Credit - a mortgage that is granted based on net worth and good credit
  • a Reverse Mortgage - a mortgage based on the equity in the home that requires no monthly repayments for as long as you own and live in your home
There is no age requirement for accessing your home's equity as long as the owner is able to understand and sign documents. A Power of Attorney can also use their authority to access these funds.

Funds can be used to:
  • pay for care
  • pay a child or family member to stay home as a caregiver
  • pay for a retirement home if the owner can no longer live alone or if the home is not senior friendly and convenient
  • downsize to a more senior friendly home and rent out your current home as an investment
To learn more about the financing options available to you, contact us directly or visit LiveWell Mortgage Plus .

Mortgage advice and financing provided through Livewell Mortgage Plus, Licence #12986

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