We all know reverse mortgage is very useful method than other way of getting loan. There are two types of reverse mortgages in Canada. They are high ratio mortgage and conventional mortgage, these two mortgages has sub-type called open and closed mortgages. However consulting mortgage broker is advisable before applying for reverse mortgage, because he may give you good suggestion to better suit your financial situation. More or less all types of mortgages are of same process. The costs of Canada reverse mortgages differ from one company to other. It is advisable to compare the cost of various companies to choose the best one.