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.
Finance your retirement with a
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:
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
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.