SABEENA BUBBER

MORTGAGE BROKER | AMP

LET’S SEE IF A REVERSE MORTGAGE IS RIGHT FOR YOU.

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MY REVERSE MORTGAGE PROCESS

DECIDE

Decide how much of your home equity you would like to access without scrutiny of your income, credit, or health.

CONSULT

Contact me to find out how much you qualify for. I will personally walk you through the entire process from start to finish.

RECEIVE

Receive the money you need in one lump sum, multiple installments or receive monthly tax-free income. Spend the money however you like!

REPAY

The full amount only becomes due when you and your spouse pass away, when your home is sold, or if you decide to move.

SABEENA BUBBER

MORTGAGE BROKER | AMP

Hi, I’m Sabeena. I’m a mortgage broker with Xeva Mortgage.

I became a mortgage broker in 2001 after working in mortgage lending for more than 11 years. The experience I gained working with lending companies allowed me to successfully transition into the independent mortgage broker role.

I’m committed to finding solutions for my clients that go beyond just getting a good interest rate. I’m a specialist in reading fine print and love to help my clients get the mortgage product that best suits their needs.

I’m also a Certified Reverse Mortgage Specialist, which means I can provide my clients with even more comprehensive financing options. This unique program provides Canadians 55 and older with specialized financing that enables them to free up some of their home equity while remaining in the comfort of their home.

Not all Reverse Mortgage products are created equally. It's important to know the difference. Working with a mortgage broker who knows the difference can help protect your future.

Unlike many mortgage-based financial products, with a Reverse Mortgage, borrowers are not obligated to make any payments until they choose to move or sell. I’d love to help you look at all your options. Contact me anytime!

604-862-8526 | SABEENA@XEVA.CA

FREQUENTLY ASKED QUESTIONS

HOW DOES A REVERSE MORTGAGE WORK?

A Reverse Mortgage is secured by the equity in your home. Unlike a traditional mortgage in which you make regular payments to someone else, a Reverse Mortgage pays you.

The big advantage with a Reverse Mortgage is that you do not have to make any regular mortgage payments for as long as you or your spouse lives in your home. That’s what has made Reverse Mortgages such a popular solution in Canada, the U.K., the U.S., Australia, and other countries.

Reverse Mortgages have become a solution for Canadians to stay in their homes longer while continuing to grow their equity as part of their legacy.
HOW DO I RECEIVE THE MONEY?

You can choose how you want to receive the money. The Reverse Mortgage gives you the option of receiving all the money you’re eligible for in one lump sum advance, or you can take some now and more later, or you can receive planned advances over a set period of time. Planned advances are available on the Income Advantage product.
WILL THE BANK OWN THE HOME?

No. The homeowner retains title and maintains ownership of the home. It’s required for the homeowner to live in the home, pay taxes on time, have property insurance, and maintain the property in good condition.
SHOULD REVERSE MORTGAGES ONLY BE CONSIDERED AS A LOAN OF LAST RESORT?

No. Many financial professionals recommend a Reverse Mortgage to supplement monthly income instead of selling and downsizing, or taking out a conventional mortgage or a line of credit.

WHO IS IT FOR?

A Reverse Mortgage is designed exclusively for homeowners age 55 and older. This age qualification applies to both you and your spouse.

How much can I get and how is it calculated?

You can receive up to 55% of the value of your home. The specific amount is based on your age and that of your spouse, the location and type of home you have, and your home’s current appraised value. You can contact me and I can quickly give you an estimate of how much you may be approved for.
WILL THE HOMEOWNER OWE MORE THAN THE HOUSE IS WORTH?

The homeowner keeps all the equity remaining in the home. In our many years of experience, over 99% of homeowners have money left over when their loan is repaid. The equity remaining depends on the amount borrowed, the value of the home, and the amount of time that’s passed since the Reverse Mortgage was taken out.
WHAT IF THE HOMEOWNER HAS AN EXISTING MORTGAGE?

Many of our clients use a Reverse Mortgage to pay off their existing mortgage and debts.
WHAT FEES ARE ASSOCIATED WITH A REVERSE MORTGAGE?

There are one time fees to arrange a Reverse Mortgage such as an appraisal fee, fee for independent legal advice, title insurance, and registration. With the exception of the appraisal fee, these fees are paid for with the funding dollars.

NOTHING BEATS A CONVERSATION

If you’ve got questions about your unique financial situation,

please contact me anytime!

LET'S CONNECT

APPLY

MY SERVICES

As your mortgage broker, I will take a look at your financial situation and offer more than just a single product. Although a Reverse Mortgage might be the best solution, it shouldn’t be your only choice. When you work with me, you will be able to pick the mortgage product that best suits your needs.