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Don’t turn your finances upside down

Compounding interest on a reverse mortgage can erode your home equity. Keep your existing equity safe with a HESA.

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You have a new alternative

A HESA is an innovative financial product that lets Canadians tap into their home equity now in exchange for sharing in the future value of their homes.

What is a HESA?
Who is Clay Financial?

One similarity, many differences

Though both HESAs and reverse mortgages do away with monthly payments in favour of a single payment at the end of their terms, that’s where the similarities end.

Not debt, no interest

A HESA is not debt, so it doesn’t have an interest rate. Instead, your payment at the end of your HESA is calculated based on the change in value of your home.

A true partner

We’re not a lender. We see ourselves as your partner in home equity. We care about your home, just like you, because we share in the ups and the downs. We’ll even share in the loss if your home’s value drops over your HESA.

Existing equity protected

Your payment at the end of your HESA is based on how much equity you tapped into initially and how much your home has appreciated since then. There is no risk of eating into the rest of your existing equity.

Extra-long, flexible term

Your HESA has a flexible term of 25 years. The deal doesn’t change and you don’t have to worry about refinancing during that time. It also means you only pay our origination fee once.

No prepayment penalties

Your HESA has an open term, meaning you can sell your home anytime or buy us out after the first 5 years without any penalties.

No minimum age required

A HESA is available to Canadian homeowners of any age provided they have built up enough equity in their home.

Plays nice with debt

A HESA can work alongside an existing mortgage and HELOC.

In many cases, a reverse mortgage will require you to pay out any secured debt as a condition of receiving the funds. This all-or-nothing approach to managing your finances can be limiting.

You can add a HESA without giving up your existing financial products as long as you’ve built up enough equity that isn’t already being used to secure debt.

You’ve got options

If you’re considering a reverse mortgage, use our estimate tool to see how much of your equity you could unlock with a HESA instead. We’re always happy to answer your questions and help you understand how a HESA works.

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How does it work?