# Islington Reverse Mortgage: Houses and Condos | ReverseMortgageEtobicoke.ca > Islington reverse mortgage guide: post-war houses near Islington Village, condos at Six Points, Q2 2026 TRREB medians. Free estimate, no sales pressure. URL: https://reversemortgageetobicoke.ca/service-areas/islington-city-centre-west/ Islington-City Centre West, Etobicoke # Islington Reverse Mortgage: Money From a Village House or a Six Points Condo An Islington reverse mortgage gives owners 55 and older money from a house or condo in Islington-City Centre West, with no required monthly mortgage payments. Detached houses there sold for a median of $1,301,000 from April to June 2026, and condo apartments for $518,000. At 75, that means up to about $751,000 or $299,000. [Get My Free Estimate](https://reversemortgagebroker.ca/estimate/?utm_source=reversemortgageetobicoke&utm_medium=satellite&utm_campaign=islington-city-centre-west) [Try the calculator](/tools/reverse-mortgage-calculator-etobicoke/) No cost · No credit check · No sales pressure Last updated October 16, 2026 Photo: JosephIWMolto, Public domain, via [Wikimedia Commons](https://commons.wikimedia.org/wiki/File:EtobicokeIslingtonHistoricMontgomerysInn.JPG). ## What Brings Islington-City Centre West Homeowners to a Reverse Mortgage A 1950s house that needs a main-floor bathroom Many houses on the streets around Islington Village were built after the war, and stairs get harder with age. A reverse mortgage can pay for a main-floor bathroom with no monthly mortgage payment added. A condo mortgage still running at retirement Seven in ten Etobicoke City Centre owners (71.7%) were still paying a mortgage in 2021 ([City of Toronto](https://ckan0.cf.opendata.inter.prod-toronto.ca/dataset/6e19a90f-971c-46b3-852c-0c48c436d1fc/resource/19d4a806-7385-4889-acf2-256f1e079060/download/nbhd_2021_census_profile_full_158model.xlsx)). Clearing that loan at closing removes the monthly bill. Moving from the house to a tower nearby Buying a condo at Six Points means paying Ontario's land transfer tax and Toronto's municipal land transfer tax. On a $700,000 condo, the two add up to $20,950 for a repeat buyer. Rising condo fees on a fixed income Condo fees stay yours with a reverse mortgage, like property taxes. Ending the monthly mortgage payment can make room for higher fees. [ReverseMortgageEtobicoke.ca](/) explains how an Islington reverse mortgage works for owners 55 and older, whether the home is a brick house off Dundas Street West or a condo a short walk from Kipling station. You borrow against the home, keep living in it and make no required monthly mortgage payments. You still pay the property taxes, keep the home insured and look after repairs. The amount follows the youngest owner’s age and the home’s appraised value, and in this part of Etobicoke those values run from about half a million dollars for a condo to well over $1.3 million for a house. ## Two kinds of home in one TRREB community TRREB’s community called Islington-City Centre West covers both the older village streets and the newer towers. The City of Toronto now counts the same ground as two neighbourhoods, Islington and Etobicoke City Centre, and their housing is very different ([City of Toronto, 2021 Neighbourhood Profiles](https://ckan0.cf.opendata.inter.prod-toronto.ca/dataset/6e19a90f-971c-46b3-852c-0c48c436d1fc/resource/19d4a806-7385-4889-acf2-256f1e079060/download/nbhd_2021_census_profile_full_158model.xlsx)). ### The houses around Islington Village Islington took its name in 1859, the subway reached Islington Avenue in 1968, and the first apartment buildings came in the 1950s and 1960s ([Etobicoke Historical Society](https://www.etobicokehistorical.com/islington-village.html)). Montgomery’s Inn, built in the 1830s, still stands at Dundas and Islington as a free City museum with a Wednesday farmers’ market ([City of Toronto](https://www.toronto.ca/explore-enjoy/history-art-culture/museums/montgomerys-inn/)). In the 2021 Census, 45.7% of Islington’s homes were single-detached houses, and 62.4% of its dwellings were built in 1980 or earlier. One resident in five (20.2%) was 65 or older, and 52.5% of owners had no mortgage at all. ### The towers at Six Points and Kipling Etobicoke City Centre is mostly condos: only 8.6% of its homes were single-detached houses in 2021, and 12.8% of residents were 65 or older. Owners there were more likely to carry a mortgage, at 71.7%. The City is building a new Etobicoke Civic Centre on a 13.8-acre site at Six Points, with a community centre, pools and a library branch, and completion is expected in 2028 ([City of Toronto](https://www.toronto.ca/services-payments/venues-facilities-bookings/booking-city-facilities/new-etobicoke-civic-centre-project)). ## How lenders look at a house and at a condo A house is judged mainly on its own value, condition and location. A post-war house that has been kept up qualifies like any other, but serious disrepair can stop an approval, so a leaking roof is worth fixing or quoting before the appraiser visits. A condo apartment gets three reviews: the value of your unit, the health of the building and its condo corporation, and the location. Lenders want a corporation whose rules permit the mortgage, whose reserve and fees look healthy and whose building is kept up. Each of the four lenders keeps its own view of individual buildings, which means one Six Points tower can be approved by one lender and turned down by the next. Comparing all four matters more for a condo than for a house, as [reverse mortgages for Etobicoke condos](/reverse-mortgage-condo-etobicoke/) explains in more depth. ## Example: An Islington House at $1,301,000 For example, take a widowed owner, aged 75, in a 1950s detached house a few streets from Montgomery’s Inn. Detached houses in Islington-City Centre West sold for a median of $1,301,000 from April to June 2026 ([TRREB, Q2 2026](https://trreb.ca/wp-content/files/market-stats/community-reports/2026/Q2/TorontoWestQ22026.pdf)), and at 75 the ceiling is up to about 58% of that, or about $751,000. The owner still has $85,000 on a HELOC (home equity line of credit) and wants $60,000 for a main-floor bathroom and a stair lift. At closing, the $85,000 HELOC is paid off and closed, and the $60,000 goes to the owner’s bank account. That uses $145,000 of the $751,000 ceiling. Interest builds only on the $145,000, and any rise in the house’s value over the years often makes up some or all of that interest. Ways to pay for help at home are covered in [paying for home care in Etobicoke](/paying-for-home-care-etobicoke/). ## A condo owner near Kipling with a mortgage The median condo apartment in Islington-City Centre West sold for $518,000 in the same quarter, across 109 sales. For an owner aged 65, up to about half of that is about $262,000. Any mortgage is paid off first, so the balance must fit inside that ceiling. For example, a 65-year-old with $200,000 left on a condo bought in the 2010s would have about $62,000 left over after the payoff, and no monthly mortgage payment from then on. A condo townhouse at the $813,000 median is reviewed with its condo corporation, like an apartment. A freehold row house at the $1,170,000 median is valued the way a detached house is. ## What to watch for in Islington-City Centre West **Property taxes keep coming.** Toronto’s 2026 residential rate is 0.767311% of your MPAC assessment, which is still based on January 1, 2016 values ([City of Toronto](https://www.toronto.ca/services-payments/property-taxes-utilities/property-tax/property-tax-rates-and-fees/); [MPAC](https://www.mpac.ca/en/UnderstandingYourAssessment/AssessmentCycle)). Keeping them paid is one of the conditions of every reverse mortgage, and the City’s seniors’ programs are in [Etobicoke property tax help for seniors](/guide/etobicoke-property-tax-seniors/). **A special assessment on the building.** If your condo corporation has announced a special assessment, mention it in your first email, because the lender reviews the building’s finances. **The cost of moving across the street.** Selling the house and buying a condo nearby means Ontario’s land transfer tax plus Toronto’s own. On a $700,000 condo, the two come to $20,950 for a repeat buyer ([Ontario](https://www.ontario.ca/document/land-transfer-tax/calculating-land-transfer-tax); [City of Toronto](https://www.toronto.ca/services-payments/property-taxes-utilities/municipal-land-transfer-tax-mltt/municipal-land-transfer-tax-mltt-rates-and-fees/)). The full comparison is in [downsizing in Etobicoke and land transfer tax](/guide/downsizing-etobicoke-land-transfer-tax/). ## Islington-City Centre West home values and what they could provide Islington-City Centre West: TRREB prices by type of home, and the most a reverse mortgage could provide Home type TRREB price Up to, at 65 (50.55%) Up to, at 75 (57.75%) Detached house43 sales, April to June 2026 TRREB price $1,301,000 Up to, at 65 $658,000 Up to, at 75 $751,000 Freehold row or townhouse10 sales, April to June 2026 TRREB price $1,170,000 Up to, at 65 $591,000 Up to, at 75 $676,000 Condo townhouse6 sales, April to June 2026 TRREB price $813,000 Up to, at 65 $411,000 Up to, at 75 $470,000 Condo apartment109 sales, April to June 2026 TRREB price $518,000 Up to, at 65 $262,000 Up to, at 75 $299,000 Prices: [TRREB Community Housing Market Report, Toronto West, Q2 2026 (April to June)](https://trreb.ca/wp-content/files/market-stats/community-reports/2026/Q2/TorontoWestQ22026.pdf). Amounts are the most you could qualify for at that age, from the same age table as the reversemortgagebroker.ca calculator, rounded to the nearest $1,000, before anything you owe is paid off. The largest amounts come at a higher rate, and the lender's appraisal of your own home sets the real figure. These are TRREB's April to June 2026 median prices for Islington-City Centre West. A current mortgage is cleared out of the same money, and the appraiser's value for your own home decides the final amount. ## Streets and pockets of Islington-City Centre West Richard helps owners in every part of Islington-City Centre West and the communities beside it, including: - Islington Village - Six Points - Etobicoke City Centre - The Kingsway - Princess-Rosethorn - Etobicoke West Mall - Stonegate-Queensway ### Places locals know - Montgomery's Inn, a City of Toronto museum from the 1830s - Kipling station, the western end of Line 2 Bloor-Danforth - Islington station on Line 2 - The new Etobicoke Civic Centre site at Six Points - Dundas Street West through Islington Village ### Getting help from home in Islington-City Centre West Richard Hopkins, Mortgage Broker, helps Islington owners by email, phone and video call, and any family member you name can be copied on every email. Only two steps happen in person: the appraiser visits your house or condo, and you meet your own lawyer. Many owners choose a lawyer close to home, near Islington Village or Six Points. The filled pin marks Islington-City Centre West. Choose another name to open that neighbourhood. [Open Islington-City Centre West in Google Maps](https://www.google.com/maps/search/?api=1&query=Islington-City%20Centre%20West%2C%20Etobicoke%2C%20Toronto%2C%20ON). Etobicoke boundary © OpenStreetMap contributors (ODbL), simplified. ## Reasons Islington-City Centre West owners look into it - [Condo owners](/reverse-mortgage-condo-etobicoke/): Condo apartments and condo townhouses from Humber Bay Shores to Rexdale can qualify, with no required monthly mortgage payments. - [Paying for home care](/paying-for-home-care-etobicoke/): Private care hours, a stair lift or a main-floor bathroom, paid from your home's value so you can stay in it. - [A broker who compares everything](/etobicoke-mortgage-broker/): Every reverse mortgage lender in Canada compared, plus HELOCs and refinances, so the recommendation fits your situation. ## Etobicoke guides for Islington-City Centre West families - [Downsizing in Etobicoke: Land Transfer Tax and Every Other Cost of Moving](/guide/downsizing-etobicoke-land-transfer-tax/) - [Etobicoke Property Tax for Seniors: Due Dates, Relief Programs and Grants](/guide/etobicoke-property-tax-seniors/) ## The Seven Steps, From Islington-City Centre West to Closing Day Only the appraisal and your lawyer happen in person. The rest goes back and forth by email, phone and video call, with anyone in your family copied in. You can stop at any step. Nothing is signed until the application, and nothing is final until your own lawyer has explained it. 1. 1 Step 1: Free estimate Fill in a short form online, about 90 seconds, and a first figure for your Etobicoke home appears. Asking has no effect on your credit. 2. 2 Step 2: Every lender compared Richard Hopkins, Mortgage Broker, puts your home up against every reverse mortgage lender in Canada. His first email shows how much you could get and which lenders fit, and asks how much you want. 3. 3 Step 3: Application Once you've chosen an option, fill out a quick form and send a few documents. Your credit is checked once, and your application goes only to the lender you choose. 4. 4 Step 4: Approval The lender usually sends its mortgage commitment letter within a day or two. 5. 5 Step 5: Appraisal An appraiser comes to the house or condo to confirm what it is worth. The amount available is then set from that appraised value. 6. 6 Step 6: Independent legal advice Your own lawyer, acting for you alone, explains the mortgage at your independent legal advice appointment (ILA), and only then do you sign. Expect about $800 to $1,200 in Ontario. 7. 7 Step 7: Closing The lender sends the money to the lawyer or title company doing the closing. They pay off your current mortgage, any other debts on the home and the costs, then deposit the remaining money into your bank account. ## Questions From Islington-City Centre West Homeowners **How much could a reverse mortgage provide on a home in Islington-City Centre West?** On a detached house at $1,301,000, the median from April to June 2026, it is up to about $658,000 at 65 and about $751,000 at 75. On a condo apartment at the $518,000 median, it is up to about $262,000 at 65 and about $299,000 at 75. Anything owing on the home is paid off first, and your own appraisal decides the final number. The [Etobicoke reverse mortgage calculator](/tools/reverse-mortgage-calculator-etobicoke/) gives a first look. **Can you get a reverse mortgage on a condo near Kipling station?** Yes. All four Canadian reverse mortgage lenders accept condos, provided you own a standard condominium unit in your own name. Each lender then decides on the tower and its condo corporation separately, so a building one lender declines can suit another. Leasehold condos and co-ops usually don't qualify. See [reverse mortgages for Etobicoke condos](/reverse-mortgage-condo-etobicoke/). **Does a mortgage on an Islington house or condo stop you from getting a reverse mortgage?** No. The existing mortgage is paid off and closed at closing, using the reverse mortgage money. The only condition is that the balance fits inside the amount your age and your home qualify for. After closing, there are no required monthly mortgage payments. **Is an Islington condo townhouse treated like a house?** No. Lenders assess an Islington condo townhouse along with the condo corporation that runs the complex, just as they would an apartment, and you keep paying the condo fees. A freehold row or townhouse has no corporation behind it, so lenders view it as a house. **Can a reverse mortgage pay for care so you can stay in your Islington home?** Yes. Private home care, a stair lift and a main-floor bathroom are all fair uses of the money. The money isn't considered income, so it's tax-free and doesn't affect your Old Age Security or GIS. A temporary hospital stay doesn't make the mortgage due. See [paying for home care in Etobicoke](/paying-for-home-care-etobicoke/). ## Sources 1. [TRREB Community Housing Market Report, Toronto West, Q2 2026 (Islington-City Centre West, PDF p. 43 and 47)](https://trreb.ca/wp-content/files/market-stats/community-reports/2026/Q2/TorontoWestQ22026.pdf) 2. [City of Toronto, 2021 Neighbourhood Profiles (Islington and Etobicoke City Centre, 2021 Census)](https://ckan0.cf.opendata.inter.prod-toronto.ca/dataset/6e19a90f-971c-46b3-852c-0c48c436d1fc/resource/19d4a806-7385-4889-acf2-256f1e079060/download/nbhd_2021_census_profile_full_158model.xlsx) 3. [Etobicoke Historical Society, Islington Village](https://www.etobicokehistorical.com/islington-village.html) 4. [City of Toronto, Montgomery's Inn (modified September 30, 2026)](https://www.toronto.ca/explore-enjoy/history-art-culture/museums/montgomerys-inn/) 5. [City of Toronto, New Etobicoke Civic Centre project (modified September 10, 2026)](https://www.toronto.ca/services-payments/venues-facilities-bookings/booking-city-facilities/new-etobicoke-civic-centre-project) 6. [City of Toronto, Property tax rates and fees, 2026 (modified May 11, 2026)](https://www.toronto.ca/services-payments/property-taxes-utilities/property-tax/property-tax-rates-and-fees/) 7. [MPAC, Assessment cycle (January 1, 2016 valuation date)](https://www.mpac.ca/en/UnderstandingYourAssessment/AssessmentCycle) 8. [Government of Ontario, Calculating land transfer tax (updated April 22, 2026)](https://www.ontario.ca/document/land-transfer-tax/calculating-land-transfer-tax) 9. [City of Toronto, Municipal Land Transfer Tax rates and fees (modified April 7, 2026)](https://www.toronto.ca/services-payments/property-taxes-utilities/municipal-land-transfer-tax-mltt/municipal-land-transfer-tax-mltt-rates-and-fees/) ## Neighbouring Parts of Etobicoke [ The Kingsway Architect-designed houses from Robert Home Smith's 1912 plan, beside the Old Mill and the Humber River, with the highest prices in Etobicoke. See The Kingsway ](/service-areas/the-kingsway/)[ Mimico An old railway village on the lake, with pre-war houses on its side streets, condos near the water and a GO station on the Lakeshore West line. See Mimico ](/service-areas/mimico/)[ Rexdale Bungalows and storey-and-a-half houses from the early 1950s in north Etobicoke, now on Line 6 Finch West. See Rexdale ](/service-areas/rexdale/) --- Free reverse mortgage estimate (no sales pressure): https://reversemortgagebroker.ca/estimate/ Operated by Dominion Lending Centres Homestead Financial, a mortgage brokerage licensed by the Financial Services Regulatory Authority of Ontario, brokerage licence #11711. Independently Owned and Operated. ReverseMortgageEtobicoke.ca is a website of Dominion Lending Centres Homestead Financial, not a separate brokerage. Richard Hopkins, Mortgage Broker, licence M16000896.