ReverseMortgageHamilton.ca answers the questions Dundas homeowners 55 and older ask about reverse mortgages. Dundas is a 19th-century town with home values higher than most of Hamilton’s districts. This page covers what those homes could give, the 2026 tax rate, and paying for help at home.
Dundas homes and what they mean for the amount
Dundas lies in a valley between two faces of the Niagara Escarpment. Its first settlers came in 1787, and it became a town in 1847 (The Canadian Encyclopedia).
That history shows on the older streets near the town centre, where many houses have stood for generations.
The average Dundas sale over the 12 months to September 2026 was $917,331 (Cornerstone Association of REALTORS). On that value, a reverse mortgage could give up to about $464,000 at 65 and up to about $530,000 at 75. At 78 and older, the ceiling reaches up to about $550,000.
What the appraiser looks for in an older home
The lender’s appraiser walks through the house and records its condition. Age alone isn’t the issue; condition is.
A leaking roof, failing wiring or a wet foundation can lead a lender to ask for repairs. If the repair is already booked, the cost can sometimes be built into the mortgage and paid out once it’s done. Renovations to stay in your home explains the options.
The 2026 tax rate in Dundas
Urban Dundas homes pay a 2026 residential rate of 1.424%, with composite fire service. Rural Dundas homes pay 1.286% to 1.367%, depending on fire service. On the City’s example of a home assessed at $387,100, the urban rate comes to $5,513 a year (City of Hamilton, 2026 tax rates).
The interim bill in January is half of last year’s taxes. The final bill, mailed in May, includes the full year’s increase, so budget for it in the second half of the year.
The assessed value on your bill is MPAC’s figure, not a sale price. A reverse mortgage doesn’t change your tax, and you keep paying it yourself. If your income is $44,568 or less and you’re 65 or older, the City’s deferral programs may cost less; the Hamilton property tax deferral guide explains them.
An illustrative Dundas example
Here is a composite example, not a real client. An illustrative widower, 80, owns a brick house a few streets from King Street, worth about the Dundas average of $917,331. At 78 and older, a reverse mortgage could give him up to about $550,000.
He doesn’t want a lump sum. He wants help at home three mornings a week and someone to clear the walk in winter.
He sets up monthly deposits, and interest is charged only on each deposit once he’s received it. Most of the $550,000 approval stays untouched.
His daughter, who lives out of town, is copied on every email, so she sees the same numbers he does.
He keeps paying the taxes, insurance and upkeep, and has no required monthly mortgage payments. Because it is a loan rather than income, his Old Age Security and Guaranteed Income Supplement don’t change. Paying for home care explains how Hamilton families pay for care at home.
When care is temporary, and when it isn’t
A short stay in hospital, rehab or convalescent care doesn’t make a reverse mortgage due. The home stays yours, and nothing changes while you recover.
A dementia diagnosis doesn’t trigger it either. A continuing power of attorney for property, signed while the homeowner is still mentally capable, lets a trusted family member deal with the lender and the bills if that day comes. It can’t be made afterward, so it’s worth doing early.
The City operates Wentworth Lodge, a 160-bed long-term care home in Dundas (City of Hamilton, Long-Term Care). If one spouse moves there and the other stays home, with both on the mortgage, nothing is triggered.
When the last borrower moves into care for good, the mortgage becomes due, and families commonly have up to a year to settle it. The long-term care and your Hamilton house guide walks through the choices.
Who it fits in Dundas, and who it doesn’t
A reverse mortgage tends to fit Dundas owners who want to stay in an older home, pay for help or repairs, and keep the house in the family. It’s usually a poor fit if you plan to sell within a few years, or if a cheaper option covers the need. The reverse mortgage cost guide lists every one-time cost.
In Dundas, the appraiser looks at an older village home’s condition as well as its price, and the appraisal sets the final figure. Richard Hopkins, Mortgage Broker, compares every reverse mortgage lender in Canada. He does it by email, phone and video call, and it costs you nothing.
What Dundas homes are worth right now
The average Dundas sale over the 12 months to September 2026 was $917,331. On that value, a reverse mortgage could give up to about $464,000 at 65 and up to about $530,000 at 75. At 78 or older, the ceiling reaches up to about $550,000.
| District | Average sale price | At 65 | At 70 | At 75 |
|---|---|---|---|---|
| Hamilton Centre (lower city) | $499,000 -5.0% in a year | $252,000 | $264,000 | $288,000 |
| Hamilton East (lower city) | $546,000 -7.9% in a year | $276,000 | $289,000 | $315,000 |
| Hamilton West (lower city) | $698,000 -3.6% in a year | $353,000 | $369,000 | $403,000 |
| Hamilton Mountain | $684,000 -5.0% in a year | $346,000 | $362,000 | $395,000 |
| Stoney Creek | $766,000 -5.5% in a year | $387,000 | $405,000 | $442,000 |
| Glanbrook (Binbrook, Mount Hope) | $771,000 -9.2% in a year | $390,000 | $407,000 | $445,000 |
| Dundas | $917,000 -5.3% in a year | $464,000 | $485,000 | $530,000 |
| Waterdown | $931,000 -3.3% in a year | $471,000 | $492,000 | $538,000 |
| Ancaster | $1,083,000 -6.3% in a year | $548,000 | $573,000 | $626,000 |
| Flamborough (rural) | $1,223,000 -1.8% in a year | $618,000 | $647,000 | $707,000 |
Average sale price, all home types, over the 12 months to September 2026: Cornerstone Association of REALTORS (ITSO data). Amounts use about 50.5% of the value at 65, 53% at 70 and 58% at 75, the ceilings on the market's highest-lending products. Prices and amounts are rounded to the nearest $1,000. Your own home and the appraisal set the real figure.
Dundas neighbourhoods and landmarks
The help is identical wherever you are in Dundas. A few of the neighbourhoods and places nearby:
- University Gardens
- Pleasant Valley
- Highland Hills
- Spencer Creek
- York Heights
- Dundana
- Sydenham
- Colborne
Landmarks
- Carnegie Gallery
- Dundas Museum and Archives
- Collins Hotel
- Dundas Valley School of Art
- Dundas Valley Conservation Area
- Spencer Creek
- Wentworth Lodge
How the help reaches you in Dundas
Richard helps by email, phone and video call, and anyone in the family can be kept in copy. The appraiser comes to your home anywhere in the valley, and you meet your own lawyer at any lawyer's office you choose.
How Dundas homeowners use a reverse mortgage
- Paying for care at home: What publicly funded care covers in Hamilton, what families pay for on top, and how the home itself can pay for more help.
- Renovations so you can stay home: Stairs, bathrooms and roofs in an older Hamilton house: the City and government help first, then how a reverse mortgage pays the rest.