CHIP Reverse Mortgage in Canada

For over 35 years, HomeEquity Bank has provided the CHIP Reverse Mortgage to Canadian homeowners aged 55+. It is a safe and secure financial solution that enables homeowners to access the equity in their homes without the need to move or sell. CHIP empowers our customers to live retirement in the home they love. CHIP Reverse Mortgage: • Allows you to access up to 55% of the appraised value of your home in tax-free cash. • Gives options for a lump sum payout or scheduled advances over time. • Offers flexibility to use the loan for any number of purposes- the choice is yours! • Does not burden you with monthly mortgage repayments – the loan becomes due only when you decide to move or sell your home. • Ensures that you stay in the home you love and retain its full ownership. CHIP Reverse Mortgage is a simple, effective and stress-free solution that enhances your quality of life and helps to give you the retirement you deserve. We want to help Canadian homeowners live in the safety and comfort of their homes because there is no better place to retire than home!