Reverse Mortgage Prince Edward County
The County has become one of Ontario's favourite destinations. You were here first.
A reverse mortgage lets homeowners 55+ across Prince Edward County, from Picton and Wellington to Bloomfield and Milford, turn part of their home equity into tax-free cash while staying at home. There are no monthly mortgage payments, no need to sell, and your name stays on title.
Have an easy, no-obligation conversation with a licensed Ontario reverse mortgage specialist.
Maybe it's the century farmhouse outside Bloomfield you've kept up for decades. Maybe it's the home near Picton Harbour you bought long before the wineries and weekend crowds arrived. However long you've called the County home, the value your property has gained can now help fund the retirement you want, without giving up the place you love.
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GetReverseMortgage.ca is a reverse mortgage specialist division of BNQ Financial Corp. (FSRA #13618) — a licensed Canadian mortgage firm. We are independent — we work for you, not for any lender.
What's Changed for County Homeowners
Over the past decade, Prince Edward County has drawn visitors, second-home buyers, and new residents from across Ontario, and property values have risen sharply as a result. For longtime homeowners, that has meant far more equity on paper. It has also meant higher property taxes and insurance, and older farmhouses and century homes that are expensive to maintain. Many locals worked in farming, the trades, tourism, or health care and live on modest fixed incomes. Some also want to help adult children who'd like to stay in the County but can't afford to buy here.
A reverse mortgage lets you use some of that value without selling. It turns part of your Prince Edward County home's equity into tax-free funds, with no monthly payments while you live there, and you keep full ownership.
Four Financial Shifts of Accessing Home Equity
What a Reverse Mortgage Actually Does for Prince Edward County Homeowners?
Zero Monthly Mortgage Payments
A reverse mortgage instantly eliminates monthly payments, easing cash flow as Prince Edward County's property taxes and cost of living keep climbing.
Keep Your Home and Control
You retain full ownership and stay on title — the lender only registers a security charge. Your Prince Edward County home, your neighbourhood, your name on the deed.
100% Tax-Free
A reverse mortgage is a tax-free loan, not income. It won't affect or claw back OAS, GIS, or CPP, which continue exactly as before.
Flexible Payout Options
Take it as a lump sum, scheduled advances to supplement income, or a mix of both — useful given how much equity Prince Edward County homes have built up.
THE FOUR CRITERIA
Does Your Prince Edward County Home Qualify?
Every lender uses the same four requirements. Rural, waterfront, and farm properties can come with extra criteria, so comparing lenders matters here.
Everyone 55 or Older
All owners on title must be 55 or older. Older borrowers can generally access a bigger share of their home's value, up to roughly 59% with some lenders.
Residential Value
Lenders generally base the amount on your age, the home and a limited amount of surrounding land, its location, and their own guidelines. We'll give you a realistic estimate on the first call.
Upkeep and Costs Current
Property taxes and home insurance need to stay current, and the property kept in reasonable repair for the life of the loan.
Lived In, Not Rented to Visitors
The home must be your principal residence. Short-term vacation rentals, seasonal cottages, and investment properties aren't eligible.
A century home in Picton, a farmhouse outside Milford, or a waterfront property near Wellington: we'll review it at no cost and tell you honestly how lenders will see it.
How it Works?
We compare every major Canadian lender for your Prince Edward County home. We won't be the right fit for everyone, but you'll always leave more informed and more confident than when you called.
Profile & Estimate
Share your age, home value, and address. We provide an indicative range and walk you through what to expect — no commitment required.
Appraisal
A certified appraiser visits your property to confirm its current market value. This is a mandatory requirement with all Canadian reverse mortgage lenders.
Lender Comparison & Advisor Review
This is where Get Reverse Mortgage earns its place. We compare offerings from all major Canadian reverse mortgage lenders and align the best-fit product to your goals, budget, and property.
Documents & Costs
We prepare all paperwork and provide a clear, itemised cost summary before you make any decision. No surprises.
Independent Legal Advice
Before signing, you meet independently with a lawyer of your choosing. This is a Canadian regulatory requirement — and we think it's one of the best protections in the industry.
Funding
Receive your funds as a lump sum, scheduled advances, or a combination of both. Most clients receive funding within two to three weeks of approval. Where urgency is a factor, we have closed files in as little as two weeks.
How County Families Use It
How Prince Edward County Homeowners Are Using Their Equity
Helping Kids Stay Local
Helping an adult child buy a home in the County, or covering part of a grandchild's education, while you're here to see it.
Clearing Old Balances
Paying off a remaining mortgage, line of credit, or equipment loan so your fixed income goes further.
A Repair-Ready Reserve
Keeping funds aside for a new roof, well or septic work, or health costs, without applying for new credit later in life.
Updating the Farmhouse
Updating an older home with better insulation, a walk-in shower, or a main-floor bedroom so it stays comfortable for years to come.
Prince Edward County Reverse Mortgage FAQs
Will my home stay in my name?
Yes. You stay on title and remain the owner for the life of the reverse mortgage. The lender registers a security charge on the property, like any mortgage, and you keep making every decision about your home.
Is there any tax on what I receive?
No. The funds are a loan, not income, so they're tax-free and won't affect your OAS, GIS, or CPP.
How much could my County home provide?
Most Canadian homeowners can access up to 55% of their home's appraised value, and up to approximately 59% with certain lenders. Your age, the appraisal, and the lender determine the final amount.
When does the balance come due?
When you sell the home, move out permanently, or the last borrower on title passes away. No monthly payments are required until then.
What protects my estate if property values fall?
The no-negative-equity guarantee that every major Canadian reverse mortgage lender includes. As long as property taxes and insurance stay current and the home is maintained, you or your estate will never owe more than the home's fair market value at the time of sale.
Can I rent my home to visitors and still qualify?
Generally not, if the home operates as a short-term rental, because it must be your principal residence. If you rent out part of the property, lender rules vary, so we'll confirm the details before you apply.
Do my benefits stay the same?
Yes. Because the funds are a loan rather than income, your CPP, OAS, and GIS continue unchanged.
