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We don't work for a bank.
We work for you.
Every reverse mortgage lender in Canada is happy to explain why their product is the best choice. None of them will compare themselves honestly to their competitors. That gap is exactly why Sparrow exists.
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We know BC and AB.
Not just Canada in general.
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$1.2M+
Metro Vancouver
55+
no income check
59%
accessible
$650K+
value Calgary
No PST
costs vs BC
4
in AB now
Your situation drives
everything that follows
We do not start with a product. We start with you. Here is how that actually works from the first conversation to closing.
Questions we hear every week
If you have a question not answered here, ask us directly — no obligation, no pitch, just an answer. You can always reach us at info@sparrowlending.ca
How do I qualify for a reverse mortgage?
There are really only a few boxes to tick. Every owner on title needs to be at least 55. The home has to be your primary residence — the place you live for at least six months of the year. And you need enough equity built up, which most homeowners who've owned for a while already have.
There's no income test and no credit-score hurdle, because you're not making monthly payments. If you still have a mortgage, that's fine — it just gets paid off from the proceeds first. We'll check the exact details for your home and lender on a quick call.
Who qualifies for a reverse mortgage?
It's built for Canadian homeowners 55 and older who have real equity in their home but are feeling the squeeze month to month — often because CPP, OAS, and a pension don't stretch as far as they used to. You don't need a high income or a perfect credit history.
What matters is your age (the age of the youngest homeowner is what counts), your home, and that you plan to keep living in it. If that sounds like you, it's worth a conversation — and if it's not the right fit, we'll tell you that too.
What is the difference between a reverse mortgage and a home equity line of credit (HELOC)?
A HELOC is a line of credit you draw on and pay back every month — and the bank can freeze it or ask for repayment. A reverse mortgage has no required monthly payments and can't be called as long as you live in the home.
A HELOC usually needs proof of income and solid credit; a reverse mortgage doesn't. The trade-off is that a reverse mortgage costs more in interest over time, because you're not paying it down. We'll show you both side by side and tell you honestly which one fits your situation — even when the HELOC is the better answer.
Do I need to fully own my home to qualify for a reverse mortgage?
No. You don't need to own it free and clear. If you still have a mortgage, the reverse mortgage pays it off first and you keep what's left.
A lot of our clients use it to clear that last mortgage payment and free up monthly cash flow. You also keep title and ownership the whole way through — the home stays yours.
How much equity can I access with a reverse mortgage?
Mostly it comes down to your age, your home, and where you live. As a rule, the older you are, the more you can access — typically up to 55% of your home's value, and as high as 59% with some lenders.
At 55 you'll see a smaller share; in your 70s and 80s, more. We'll give you a real number for your situation, not a brochure range.
A financial conversation first. A mortgage second — if at all.
I’ve spent my career in the mortgage industry, and for much of it I worked alongside financial services professionals. The best ones never started with a product. They started with a person — income, expenses, goals, worries — and only recommended something after they understood the whole picture.
Then I’d look at how reverse mortgages were being sold, and I saw the opposite. A homeowner in their seventies calls a 1-800 number and gets a pitch for the one product that lender happens to sell. Nobody asks what they’re actually trying to solve. Nobody compares the alternatives. That gap bothered me enough to build Sparrow.
Sparrow starts where a good financial conversation starts — with your situation, not a lender’s product. We look at your income, your expenses, and what you want the next twenty years to look like. Then we compare every reverse mortgage lender in Canada side by side and tell you plainly what we see. Sometimes that means recommending a reverse mortgage. Sometimes it means recommending something else entirely — or nothing at all.
You’ve spent decades building the equity in your home. You deserve an advisor who treats that with the care it took to build. No pressure, no pitch — just an honest look at your options, from someone local who answers his own phone.
Jeff Hill
Founder, Sparrow Lending · Lethbridge, Alberta
