Your First Meeting with a Mortgage Agent: What Actually Happens

Most first meetings happen by phone, and they run 15 to 30 minutes. Some people prefer to meet in person or over video instead, and that's entirely fine too. There is no cost, no obligation, and nothing to sign. My job in that first call is simply to understand your situation and give you honest, unguaranteed information so you can decide, on your own time, whether it's worth going further. If, by the end, my honest read is that a reverse mortgage isn't the right fit for you, I'll say so plainly, even though that means I don't get paid for the conversation. That's the standard I hold myself to, and it's a fair one to expect from anyone you speak with.

Phone, video, or in person, your choice

I work with people across the GTA and beyond, and how we meet is entirely up to you. Some people prefer a phone call because it's simple and they can take it from their kitchen table with a coffee in hand. Others like video so they can put a face to a name before going further, especially if a first impression matters to them. And some prefer meeting in person, which I'm always happy to arrange. None of these formats change the substance of the conversation, they're just different ways of having the same honest discussion, and you should pick whichever makes you most comfortable.

You don't need to prepare much

You don't need financial statements, appraisals, or paperwork of any kind for a first conversation. It helps, but isn't required, to have a rough sense of a few things: roughly what your home is worth, whether you still owe money on an existing mortgage and about how much, the ages of everyone whose name is on the title, and a general idea of what you'd use the funds for, paying off debt, topping up retirement income, funding care, helping family, or simply having a cushion. None of that needs to be precise. It's enough for me to give you a realistic, unguaranteed range, and to tell you honestly if I don't think it's a good fit.

What I'll ask you

Expect fairly straightforward questions: your age and the ages of any co-owners, the type of home and where it's located, whether there's an existing mortgage or line of credit, what you're hoping the money will do for you, and your general timeline. I'll also ask about your comfort level with how a reverse mortgage works, since some people arrive already well-read and others are hearing the details for the first time, and I'd rather meet you where you are than assume.

What you should ask me

This is the part people forget they're allowed to do: a first meeting is a two-way conversation, and you should leave with answers to your own questions, not just mine. Ask about the lender options and how they compare, what the actual interest rate would be and how it's calculated, what fees apply and when they're paid, what happens if you want to sell or move within a few years, and what happens to the loan when you pass away. My free 20-page guide includes a full list of the questions worth asking any agent, reverse mortgage or otherwise, so you can walk into any conversation, with me or with someone else, prepared rather than reactive.

You should get something in writing

A properly run first meeting ends with a written, unguaranteed illustration: roughly how much you could access, what the interest cost looks like over five, ten, and fifteen years, and how the remaining equity in your home would change over that time. If an agent gives you only verbal numbers and no paper trail, ask for one. You're entitled to see the math, not just hear a summary of it.

Nothing gets signed at a first meeting

This is worth saying plainly: there is no document to sign at a first conversation, full stop. Not an application, not an intent to proceed, nothing. If you ever feel rushed toward paperwork before you've had time to think, that's not how this is supposed to work, and it's worth pausing and asking why. You can read more about how mortgage agents are licensed and held accountable in Ontario if you want to understand the regulatory backdrop that's supposed to prevent exactly that kind of pressure.

Bring family, if you want to

Many of my clients bring an adult child into the first call, either from the start or partway through, and some prefer their children lead the conversation entirely while they listen. There's no wrong way to do this. If your family isn't on the first call but wants to be involved later, that's completely normal too, and I'm always glad to go over everything again for anyone who joins partway through the process.

When you're a couple with different comfort levels

It's common for one spouse to arrive ready to move forward and the other still working through hesitation, and that's a completely normal starting point, not a problem to fix in one call. Part of my job in a first meeting with a couple is making sure both of you get equal airtime, that quieter concerns get named out loud rather than glossed over, and that nobody leaves the conversation feeling like they were talked past. If you need a second call before you're both on the same page, that's time well spent, and it costs you nothing to take it.

It's fine to say no, even after everything looks good

Sometimes a first meeting goes well, the numbers work, the fit seems right, and people still decide not to proceed, for reasons that have nothing to do with the mortgage itself: they're not ready, a family conversation needs to happen first, or the timing simply feels off. That's a completely acceptable outcome, and it doesn't burn any bridges. You're welcome to call again in six months, a year, or never, whatever suits you. A first meeting is information gathering, not a commitment escalator, and it should never feel like the latter.

What comes after, if you decide to move forward

If, after all of this, you decide to proceed, the next steps are a formal application, a property appraisal, and underwriting by the lender you've chosen. Before anything is finalized, Ontario law requires independent legal advice: your own lawyer, separate from the lender's, reviewing the documents with you and confirming you understand exactly what you're signing. That step exists specifically to protect you, and it isn't optional. From a first conversation to funds actually arriving in your account, most straightforward files take somewhere in the range of four to eight weeks, though condos, older buildings, and more complex titles can take a little longer, since there's more for the lender's underwriting team to review. None of that timeline is rushed on your end: you set the pace for how quickly you move from one step to the next, and you can pause at any point along the way. If you're still deciding whether a reverse mortgage is the right tool at all, the honest self-assessment on my site takes about three minutes and won't push you toward anything.

Questions people ask about this

This article is general education for Ontario residents, current to July 10, 2026, and is not legal, tax, or investment advice. Reverse mortgage features vary by lender; approval, rates, and amounts are never guaranteed. Please consult an independent legal or financial advisor about your personal situation.