Anvar Islamov

Q: How does a reverse mortgage work, and who is it right for?

A reverse mortgage lets homeowners 55 and older turn part of their home equity into tax-free cash without selling or making monthly payments. You keep ownership and live there as long as you like; the loan is repaid when you sell, move out, or pass away. It suits retirees who are house-rich but cash-tight and want to stay put. Interest accumulates over time, which reduces the equity left for your estate, so it's worth discussing with your family first.

Answered October 2026

Q: I’m self-employed and write off a lot of expenses. Can I still qualify for a mortgage?

Yes. I work with self-employed borrowers all the time, and this is the most common hurdle. Banks qualify you on net income from your tax returns, so big write-offs can cut what you're approved for. But some lenders add back items like depreciation, and others look at your revenue deposits instead. Have two years of returns, Notices of Assessment, and 12–24 months of business bank statements ready, and talk to a broker before filing next year's taxes.

Answered October 2026