Unlock your home’s value and
live life on your terms

Is a Home Equity Reverse Mortgage right for you?

A Canadian Reverse Mortgage allows homeowners 55 and older to access up to 55% of their home’s value in tax-free money, without monthly payments, while still owning their home.

FIND OUT IF YOU QUALIFY

Finance your retirement with a
Reverse Mortgage

Decrease your monthly payments and increase your monthly cash flow

A reverse mortgage allows Canadians 55 and older to unlock up to 55% of the value of their home to assist with any financial need. The money received from a reverse mortgage is tax-free, there are no health checks to qualify for and no payments required -interest or principal- for as long as at least one borrower lives in the home.

What is a Reverse Mortgage?

Many of our senior clients are always asking for a solution to increase their cash flow and manage their debt. The truth is, debt in retirement use to be a faux-pas, but today, more and more Canadians are entering retirement with growing debt. The average life expectancy is higher than ever and the cost of living is often greater than pension incomes.

HomEquity Bank, the provider of the CHIP Reverse Mortgage, is a federally regulated Schedule 1 Canadian bank and is the only provider of reverse mortgages in Canada for homeowners 55 and over. In fact, they are the only Canadian Bank dedicated to exclusively servicing seniors and providing seniors with a mortgage solution that is flexible, and affordable.

You can use your Reverse Mortgage to:

  • Pay off or consolidate debt
  • Supplement income
  • Finance home renovations or repairs
  • Pay for unexpected medical or emergency expenses
  • Financially aid a family member(s)
  • Improve your standard of living by paying for a vacationgetaway or making a special purchase.

Who is eligible for a Reverse Mortgage?

Homeowners aged 55 or older with enough verifiable income to cover land taxes and homeowners insurance. Also, lhe home must be your principal residence.

  • It is easy to adjust to retirement knowing that my future was financially secure.

    Mary M Prichard, B.C.
  • I am worry-free for the rest of my life. No more financial worries is the most fantastic feeling a person can have. We wanted to stay in our house because we love it. If it wasn’t for CHIP, I could have never stayed in my house.

    Ben and Inge H. Parry Sound, ON
  • The CHIP Reverse Mortgage gave me a feeling of security knowing that my finances are finally in order and I’m able to pay my bills.

    Cathy T Richmond Hill, ON
  • HomEquity Bank enabled me to stay in my home and start my retirement without any monthly debt payments; I was also able to give my daughter the best graduation gift possible.

    Alisha P Brampton, ON
  • To be able to come up with a financial solution specifically for our needs and not have to worry about the consequences on our lifestyle is the ideal situation, and we are so grateful for it.

    Craig and Dawn S Hamilton, ON
FIND OUT IF YOU QUALIFY >>

Meet James & Mary

In 2013, James, 78, and Mary, 72, received terrible news that their daughter Matilda was diagnosed with Stage 3 breast cancer. She ultimately had to leave her job in order to complete her cancer treatment.

After 2 years and accumulating a large amount of debt to financially support Matilda and her children during her treatment, collection agencies started calling. James and Mary were facing a decision to sell their home or declare bankruptcy until they spoke to Mary’s niece who suggested they look into a CHIP Reverse Mortgage.

James and Mary spoke to a CHIP Reverse Mortgage representative at HomEquity Bank and after many questions and answers, they went ahead and accessed their home equity through a CHIP Reverse Mortgage. They were able to consolidate all of their debt at a much lower interest rate than their credit card and best of all, they were able to continue living in their home and help their daughter and her family throughout her treatment. With no regular payments required, James and Mary improved their monthly cash flow over time and reduced their stress.

“CHIP saved us during the toughest of times and we are so grateful for finding out about this fantastic product!”
~ Mary B, CHIP Reverse Mortgage Recipient

Are you a Canadian homeowner age 55 or older?

Find out if a Reverse Mortgage is right for you

 
Take the next two-minutes to answer 4 simple questions and find out how you can unlock the value in your home with our FREE Reverse Mortgage assessment.


 
 

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