Reverse Mortgages for Down Payments
Reverse mortgage proceeds can be used for:
- A child or grandchild’s down payment
- Down payment on an investment property
- Down payment on a cottage
- Down payment on a foreign vacation home
- A gift to your child or grandchild
The uses are endless.
In some cases, however, other forms of financing (like a HELOC) may make more sense when financing a down payment. Speak with our expert advisors for more information.