Free checklist
Reverse Mortgage Question Checklist
Questions for homeowners 55+ and their families.
By Saminder (Sami) Juneja, Mortgage Broker · Published · Updated
Ask the lender
- What is the rate and how often does interest compound?
- What are all set-up costs, in dollars?
- What is the prepayment penalty, and when does it end?
- What would the balance be in 5, 10 and 15 years?
Ask yourselves
- What is the money for, and how long must it last?
- How long do we expect to stay in the home?
- Does the family know, and what are the estate plans?
- Have we compared a HELOC, refinance, downsizing and registered withdrawals?
- Have we booked independent legal advice?
Cite this resource
Preferred title and URL for journalists and organizations:
Saminder (Sami) Juneja. “Reverse Mortgage Question Checklist.” The Juneja Group, updated 2026-09-29. https://thejunejagroup.ca/resources/checklists/reverse-mortgage-questions
Educational information only — not financial, legal or tax advice, and not an offer or approval. Rates and lender policies change; all financing is subject to lender approval.