# Reverse Mortgage Etobicoke: Kingsway to Rexdale | TorontoReverseMortgage.ca > What a reverse mortgage in Etobicoke can provide on a Kingsway house, post-war split-level or lakeshore condo, at 65 and 75. Free estimate, no sales pressure. URL: https://torontoreversemortgage.ca/service-areas/etobicoke/ Etobicoke · City of Toronto # Etobicoke Reverse Mortgage: The Kingsway, Rexdale and the Lakeshore Etobicoke homeowners 55 and older can use a reverse mortgage to borrow against their home and stay in it, with no required monthly mortgage payments. The amount follows the home's value, and TRREB's September 2026 detached benchmarks range from $855,100 in W10 (Rexdale) to $1,623,000 in W08 (the Kingsway). You still pay the property taxes, insurance and upkeep. [Get my free Etobicoke estimate →](/estimate/) [Try the calculator](/tools/reverse-mortgage-calculator-toronto/) Free · No sales pressure · Getting an estimate doesn't affect your credit Last updated October 28, 2026 ## Why Etobicoke homeowners start asking about reverse mortgages A post-war house that needs changes In Etobicoke Centre, 71% of people in detached houses live in one built from 1946 to 1970. Stairs, narrow doorways and an upstairs-only bathroom get harder to manage with age. A down payment for a grown child Detached benchmarks in Etobicoke go from $855,100 in W10 to $1,623,000 in W08. Some parents give a child money toward a first home now, rather than leaving it in a will. The house or a lakeshore condo Condo apartments in W06 (Mimico, New Toronto, Long Branch) sold for an average of $640,225 in September 2026. Moving there means selling costs plus both Ontario's and Toronto's land transfer tax. One spouse moving into care In Etobicoke Centre, 3.6% of residents are 85 or older, second only to Scarborough-Agincourt among Toronto's 25 wards. When one spouse moves into long-term care, the other may want to keep the house. [TorontoReverseMortgage.ca](/) sets out how reverse mortgages work for Toronto homeowners 55 and older, including owners in every part of Etobicoke, from Long Branch to Rexdale. A reverse mortgage in Etobicoke follows the same rules on an English-inspired house in the Kingsway, a post-war split-level in Humber Valley Village, a house in Rexdale or a condo at Humber Bay Shores. The dollar amount can differ by hundreds of thousands of dollars from one to another. The figures below come from TRREB’s September 2026 report for Etobicoke’s five districts, W06 to W10, and the 2021 Census for Wards 1, 2 and 3. ## Etobicoke’s homes and what they mean for a reverse mortgage Etobicoke’s residential streets are mainly single-family houses, with high-rise condos near the Humber River in the south ([Wikipedia](https://en.wikipedia.org/wiki/Etobicoke)). The Kingsway was developed by Robert Home Smith from the early 1900s and built out through the 1920s. Most of its homes were designed in the Arts and Crafts style, and the Tudor Revival Old Mill inspired much of the area’s English look ([Wikipedia](https://en.wikipedia.org/wiki/The_Kingsway,_Toronto)). Humber Valley Village, next door, was built from the mid-1930s to the 1960s. Its styles go from Georgian and Tudor to English cottages, ranch bungalows and split-levels ([Wikipedia](https://en.wikipedia.org/wiki/Humber_Valley_Village)). Most Etobicoke houses were built after the Second World War. In Ward 3 (Etobicoke-Lakeshore), 43% of people in detached houses live in one built from 1946 to 1960, and 26% in one built before 1946. In Ward 1 (Etobicoke North), about 70% live in houses built from 1946 to 1980 ([City of Toronto Ward Profiles](https://ckan0.cf.opendata.inter.prod-toronto.ca/dataset/6678e1a6-d25f-4dff-b2b7-aa8f042bc2eb/resource/16a31e1d-b4d9-4cf0-b5b3-2e3937cb4121/download/2023-wardprofiles-2011-2021-censusdata_rev0719.xlsx)). Prices differ widely across Etobicoke’s five TRREB districts. The detached benchmark was $855,100 in W10 (Rexdale, Thistletown), $1,155,500 in W06 (Mimico, New Toronto, Long Branch, Alderwood), $1,213,200 in W09 (Humber Heights, Richview) and $1,623,000 in W08 (the Kingsway, Islington, Humber Valley) ([TRREB Market Watch, September 2026](https://trreb.ca/wp-content/files/market-stats/market-watch/mw2609.pdf)). Across all five districts, detached houses sold for an average of $1,523,088 in September 2026, and condo apartments for $581,800. Condos were 121 of Etobicoke’s 275 sales that month, and W06 condo apartments near the lake averaged $640,225. A reverse mortgage uses a percentage of the appraised value, and your age decides the percentage. W08’s detached benchmark is almost double W10’s, so two owners of the same age, one in the Kingsway and one in Rexdale, can qualify for very different amounts. Try your own house in the [Toronto reverse mortgage calculator](/tools/reverse-mortgage-calculator-toronto/). ## Who asks about reverse mortgages in Etobicoke Etobicoke Centre (Ward 2) is the second-oldest ward in Toronto. In 2021, 21.4% of its residents were 65 or older, and 35.2% of its households were led by someone 65 or older ([City of Toronto Ward Profiles](https://ckan0.cf.opendata.inter.prod-toronto.ca/dataset/6678e1a6-d25f-4dff-b2b7-aa8f042bc2eb/resource/16a31e1d-b4d9-4cf0-b5b3-2e3937cb4121/download/2023-wardprofiles-2011-2021-censusdata_rev0719.xlsx)). Markland Wood (26.7%) and Kingsway South (23.3%) are among the city’s oldest neighbourhoods, while Etobicoke North (15.6%) and Etobicoke-Lakeshore (16.9%) are younger. Seniors in Etobicoke Centre are less likely to live on a low income. Ward 2 is 67.4% owner-occupied, and only 9.6% of its seniors lived on a low income in 2020, against 16.9% across Toronto. Across Etobicoke, about 44% of owners had no mortgage in 2021 (counted from the [City’s neighbourhood data](https://ckan0.cf.opendata.inter.prod-toronto.ca/dataset/6e19a90f-971c-46b3-852c-0c48c436d1fc/resource/19d4a806-7385-4889-acf2-256f1e079060/download/nbhd_2021_census_profile_full_158model.xlsx)). For many owners like these, the question is less about paying bills and more about how to stay without selling: - **An older house that needs changes.** A main-floor bathroom, a stair lift or wider doorways can be paid for with no required monthly mortgage payments ([aging-in-place renovations](/aging-in-place-renovations-toronto/)). - **A first home for a son or daughter.** A reverse mortgage can fund a down payment while you’re here to see it used ([a living inheritance](/living-inheritance-toronto/)). - **A move to the lake.** A reverse mortgage can also pay for part of a condo purchase in Mimico or Humber Bay Shores ([buying a condo with a reverse mortgage](/buy-a-condo-with-a-reverse-mortgage-toronto/)). - **One spouse needing care.** Nothing changes while a spouse who is also a borrower still lives in the home ([reverse mortgages and long-term care](/guide/reverse-mortgage-long-term-care-toronto/)). ## A worked example: a 1960s split-level in Etobicoke at $1,623,000 Consider an illustrative couple, aged 60 and 64, who own a 1960s split-level in Humber Valley Village. Their neighbourhood is in TRREB’s W08 district, where the September 2026 detached benchmark was $1,623,000. The younger spouse is 60, so the most they could borrow is about 48.5% of that value, or about $788,000 on $1,623,000. Their house is paid off. They want $150,000 toward their daughter’s first home and $60,000 for new windows and a furnace, so they take $210,000. The other $578,000 of the $788,000 stays untouched and costs no interest. The $210,000 is a loan, not income, so it isn’t taxed. Interest is added to the balance, but home price growth often offsets some or all of it, and Canadian borrowers keep about half their equity on average. Some lenders use a combined age for a couple instead of the younger spouse’s age, which can change the amount by tens of thousands of dollars. ## Tax credits for adapting an older Etobicoke house Two federal tax credits can give back part of the cost of adapting a home for an older person. The Home Accessibility Tax Credit covers up to $20,000 a year of eligible work for a person 65 or older, worth up to $3,000, claimed on line 31285 of the tax return ([Canada Revenue Agency](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-31285-home-accessibility-expenses.html)). The Multigenerational Home Renovation Tax Credit returns 15% of up to $50,000 of work, or up to $7,500, for building a self-contained second unit so a person 65 or older can live with a relative. You claim it on line 45355 ([Canada Revenue Agency](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-45355-mhrtc.html)). A reverse mortgage can pay for the work up front, and these credits give back part of the cost at tax time. Both credits have conditions, so keep your receipts and check the rules before the work starts. The [reverse mortgage assessment](/tools/reverse-mortgage-assessment/) helps you check whether a reverse mortgage fits before you plan the work. ## Etobicoke neighbourhoods and landmarks Help is the same in every part of Etobicoke. These are some of the neighbourhoods and places it covers. - The Kingsway - Humber Valley Village - Islington - Markland Wood - Princess-Rosethorn - Eringate-Centennial-West Deane - Mimico - New Toronto - Long Branch - Rexdale ### Landmarks - James Gardens - Centennial Park - Colonel Samuel Smith Park - Humber Polytechnic - Montgomery's Inn - Etobicoke Civic Centre ### How the help reaches you in Etobicoke Everything with Richard Hopkins, Mortgage Broker, is done by email, phone and video call, with your family copied on every email if you like. The appraiser comes to the property, whether it's a Kingsway house or a condo at Humber Bay Shores. For the in-person meeting with your own lawyer, Line 2 stops at Kipling, Islington, Royal York and Old Mill, Line 6 Finch West ends at Humber College, and the Gardiner, the QEW and Highway 427 all cross Etobicoke. Etobicoke is highlighted. Select any area to open its page. [Open Etobicoke in Google Maps](https://www.google.com/maps/search/?api=1&query=Etobicoke%2C%20Toronto%2C%20ON). Boundaries: City of Toronto Open Data, Former Municipality Boundaries. Contains information licensed under the Open Government Licence – Toronto. ## What Etobicoke homes are worth right now Etobicoke's detached benchmark was **$855,100 in W10** (Rexdale, Thistletown) and **$1,623,000 in W08** (the Kingsway, Islington, Humber Valley) in TRREB's September 2026 report. Condo apartments had benchmarks of **$408,400 in W10** and **$607,800 in W06** (Mimico, New Toronto, Long Branch). For a 65-year-old, that is up to about $432,000 to $820,000 on a house, or $206,000 to $307,000 on a condo. For a 75-year-old, it rises to about $494,000 to $937,000 on a house, or $236,000 to $351,000 on a condo. Source: [Toronto Regional Real Estate Board (TRREB), Market Watch, September 2026 (MLS® HPI benchmarks by district, p. 26)](https://trreb.ca/wp-content/files/market-stats/market-watch/mw2609.pdf) ## How Etobicoke homeowners use a reverse mortgage - [Renovations to stay at home](/aging-in-place-renovations-toronto/): A walk-in shower, grab bars or a stair lift, paid for from your home's value so you can stay where you are. - [Helping your children buy a home](/living-inheritance-toronto/): Give part of an inheritance now, while you can see it help, and keep living in your own home. - [Buying a condo with a reverse mortgage](/buy-a-condo-with-a-reverse-mortgage-toronto/): A reverse mortgage can pay part of the price of your next Toronto condo, so more of your house sale stays in the bank. - [Reverse mortgages on Toronto condos](/reverse-mortgage-condo-toronto/): Every lender accepts a standard condo, but each one also reviews your building, so the same Toronto unit can get different answers. - [Paying for care at home](/paying-for-home-care-toronto/): Public home care is free if you qualify, and monthly deposits from your home's value can pay for the extra hours. ## Guides Etobicoke families read first - [Does Toronto's Vacant Home Tax apply when a parent moves into long-term care?](/guide/toronto-vacant-home-tax-long-term-care/) - [What happens to a reverse mortgage if you move into long-term care in Toronto?](/guide/reverse-mortgage-long-term-care-toronto/) - [What are the alternatives to a reverse mortgage in Toronto?](/guide/alternatives-to-reverse-mortgage-toronto/) - [What does independent legal advice for a reverse mortgage cost in Toronto?](/guide/independent-legal-advice-reverse-mortgage-toronto/) ## How it works for a Etobicoke homeowner Everything is done by email and phone, with your family copied on every email if you like. The appraiser comes to your home, and you meet your own lawyer before you sign. 1. 01 Free estimate The free estimate form asks about you, your Toronto home and anything owing on it. It takes about 90 seconds and doesn't affect your credit. 2. 02 Every lender compared Richard Hopkins, Mortgage Broker, compares every reverse mortgage lender in Canada for your Toronto home. In his first email you see the most your home could provide and the lenders that suit it, and he asks how much you want. 3. 03 Application Once you've chosen an option, fill out a quick form and send a few documents. Your credit is checked once, and your application goes only to the lender you choose. 4. 04 Approval The lender usually sends its mortgage commitment letter within a day or two. 5. 05 Appraisal A professional appraiser visits the home to confirm what it is worth. 6. 06 Independent legal advice Your own lawyer, who works for you and not the lender, goes through the mortgage with you before anything is signed. 7. 07 Closing The lender sends the money to the lawyer or title company doing the closing. They pay off your current mortgage, any other debts on the home and the costs, then deposit the remaining money into your bank account. ## Etobicoke reverse mortgage questions **How much can you get from a reverse mortgage on an Etobicoke home?** At 65, the most is about $432,000 on a detached house at W10's September 2026 benchmark of $855,100, and about $820,000 at W08's $1,623,000. For a 75-year-old, those two houses mean about $494,000 and $937,000. A condo at W06's $607,800 benchmark means about $307,000 at 65. You don't have to take the full amount, and interest is charged only on the money you take. **Can a reverse mortgage on your Etobicoke house help a grown child buy a home?** Yes. Anything owing on the house is paid off first at closing, and the rest lands in the bank account to use as you please, including a gift toward a child's down payment. The money is a loan, not income, so it isn't taxed. You stay the owner of your house, and your child owns the home they buy. [A living inheritance](/living-inheritance-toronto/) explains how families plan it. **Can you buy a lakeshore condo in Mimico with a reverse mortgage?** Yes. A reverse mortgage can pay for part of the purchase, and you bring the rest, for example from the sale of your house. The condo must become your main home, and everyone on title must be 55 or older. Buying before your house sale closes needs a firm sale: a signed agreement with your buyer and any conditions already cleared, so the money is certain to arrive. [Buying a condo with a reverse mortgage](/buy-a-condo-with-a-reverse-mortgage-toronto/) covers each step. **What happens if one spouse moves from an Etobicoke house into long-term care?** Nothing changes while a spouse who is also on the mortgage still lives in the home. The mortgage becomes due when the last borrower moves out permanently, and families commonly have up to a year to repay it. An empty house can face Toronto's Vacant Home Tax, 3% of its assessed value; when the owner is in care, an exemption covers up to two tax years in a row. [The Vacant Home Tax and long-term care](/guide/toronto-vacant-home-tax-long-term-care/) explains the rules. **When does a HELOC make more sense for an Etobicoke owner with good income?** A HELOC (home equity line of credit) can be a good fit when your income is steady enough to pass the bank's stress test and you're comfortable making monthly payments. Its rate is usually one to two points below a reverse mortgage's, but the bank can reduce or freeze the limit. A reverse mortgage has no income test like a bank's and no required monthly mortgage payments. Richard Hopkins, Mortgage Broker, arranges both and recommends the one with the best overall value for you. ## Sources 1. [Toronto Regional Real Estate Board (TRREB), Market Watch, September 2026 (district sales, averages and MLS® HPI benchmarks, pp. 4, 8, 16, 26)](https://trreb.ca/wp-content/files/market-stats/market-watch/mw2609.pdf) 2. [TRREB, Community Housing Market Report, Toronto West, Q4 2019 (districts W06 to W10 and their neighbourhoods)](https://trreb.ca/wp-content/files/market-stats/community-reports/2019/Q4/Toronto/TorontoWestQ42019.pdf) 3. [City of Toronto, 2021 Neighbourhood Profiles (2021 Census), grouped by former municipality](https://ckan0.cf.opendata.inter.prod-toronto.ca/dataset/6e19a90f-971c-46b3-852c-0c48c436d1fc/resource/19d4a806-7385-4889-acf2-256f1e079060/download/nbhd_2021_census_profile_full_158model.xlsx) 4. [City of Toronto, 2023 Ward Profiles (2021 Census; 2020 incomes)](https://ckan0.cf.opendata.inter.prod-toronto.ca/dataset/6678e1a6-d25f-4dff-b2b7-aa8f042bc2eb/resource/16a31e1d-b4d9-4cf0-b5b3-2e3937cb4121/download/2023-wardprofiles-2011-2021-censusdata_rev0719.xlsx) 5. [Wikipedia, Etobicoke (housing and transit)](https://en.wikipedia.org/wiki/Etobicoke) 6. [Wikipedia, The Kingsway, Toronto](https://en.wikipedia.org/wiki/The_Kingsway,_Toronto) 7. [Wikipedia, Humber Valley Village](https://en.wikipedia.org/wiki/Humber_Valley_Village) 8. [TTC, Line 6 Finch West](https://www.ttc.ca/riding-the-ttc/Line-6-Finch-West) 9. [Canada Revenue Agency, Line 31285: Home accessibility expenses](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-31285-home-accessibility-expenses.html) 10. [Canada Revenue Agency, Line 45355: Multigenerational Home Renovation Tax Credit](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-45355-mhrtc.html) 11. [City of Toronto, Vacant Home Tax](https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax/) 12. [Government of Ontario, Calculating land transfer tax](https://www.ontario.ca/document/land-transfer-tax/calculating-land-transfer-tax) 13. [City of Toronto, Municipal Land Transfer Tax rates and fees](https://www.toronto.ca/services-payments/property-taxes-utilities/municipal-land-transfer-tax-mltt/municipal-land-transfer-tax-mltt-rates-and-fees/) ## Nearby parts of Toronto [ York The former City of York, inside Toronto: older, more modestly priced houses and five new Line 5 Eglinton stations. Read about York → ](/service-areas/york/)[ North York 1950s bungalows beside large new houses, the Yonge-Sheppard condo towers, and detached benchmarks from $1,010,200 to $3,061,400. Read about North York → ](/service-areas/north-york/)[ Old Toronto The former City of Toronto: downtown condos, Victorian semis and row houses, and midtown houses worth millions. Read about Old Toronto → ](/service-areas/old-toronto/) --- Free reverse mortgage estimate (no sales pressure): https://torontoreversemortgage.ca/estimate/ Operated by Dominion Lending Centres Homestead Financial, a mortgage brokerage licensed by the Financial Services Regulatory Authority of Ontario, brokerage licence #11711. Independently Owned and Operated. TorontoReverseMortgage.ca is a website of Dominion Lending Centres Homestead Financial, not a separate brokerage. Richard Hopkins, Mortgage Broker, licence M16000896.