# Reverse Mortgage Requirements Check | ReverseMortgageEtobicoke.ca > Do you meet the reverse mortgage requirements? Ten quick questions for Etobicoke homeowners 55+ on age, title, your home and your plans, with a plain result. URL: https://reversemortgageetobicoke.ca/tools/reverse-mortgage-assessment/ # Do You Meet the Reverse Mortgage Requirements? A 10-Question Check Ten quick questions about you and your Etobicoke home, about two minutes in all. Your result says if a reverse mortgage deserves a proper look, should be weighed against a line of credit or a refinance first, or is ruled out for now, with the reasons. [Get My Free Estimate](https://reversemortgagebroker.ca/estimate/?utm_source=reversemortgageetobicoke&utm_medium=satellite&utm_campaign=reverse-mortgage-assessment) No cost · No credit check · No sales pressure Question 1 1. How old is the youngest person named on the title? Under 55 years old Between 55 and 64 Between 65 and 74 75 and up Question 2 2. Do you live in this home six months or more each year? Yes, it's my main home No, it's rented out, a cottage or another property Question 3 3. Which of these describes your home? A house in my name (detached, semi or freehold row house) A condo I own, either an apartment or a townhouse A co-op unit, or a home on leased land Not sure which Question 4 4. How many more years do you plan to live in this home? Fewer than 3 years 3 to 10 years As long as my health allows Question 5 5. What do you still owe against the home? Nothing, it's fully paid off Under a third of the home's value From a third up to half of the value Over half of the value I'd have to look Question 6 6. What would the money be for, mainly? Clearing a mortgage, line of credit or other debts More to live on each month Repairs, changes to the home or care so I can stay Building a garden suite, laneway suite or extra unit A gift to a child or grandchild Still deciding Question 7 7. Could your income manage a bank line of credit that comes with a monthly payment? Yes, with room to spare Only barely No, and I'd rather avoid monthly payments Question 8 8. How much does leaving the home's full value to family matter to you? Very important Somewhat important Living well now comes first Question 9 9. Are the property taxes and home insurance up to date? Yes, both The taxes have fallen behind Not certain Question 10 10. Have you told your family you're looking at this? Yes No, not yet Yes, and they're worried Show My Result Pick an answer for every question, then try again. What your answers say [Get My Free Estimate](https://reversemortgagebroker.ca/estimate/?utm_source=reversemortgageetobicoke&utm_medium=satellite&utm_campaign=reverse-mortgage-assessment) [Read the Etobicoke guides](/guide/) ## About the Requirements Check **What are the main reverse mortgage requirements in Ontario?** Every owner on the title must be 55 or older, the home must be your main residence, and it must be a property type the lenders accept, such as a house or a condo. There is no income test like a bank's, and no monthly mortgage payment is required. You do keep paying property taxes, insurance and upkeep. **What will my result tell me?** It lands on one of three outcomes, with the reasons taken from your own answers: a reverse mortgage deserves a proper look, other options should be weighed first, or something rules it out for now. Treat it as a starting point, not advice. **Is anything I answer saved or sent?** No. The answers are scored on your own device and disappear when you leave the page. --- 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.