CHIP/Reverse Mortgages
Services
CHIP/Reverse Mortgages
No monthly mortgage payments required
Receive funds as a lump sum, over time, or both
Tax-free money you control
Stay in your home—you maintain full ownership
No income or credit requirements
Flexibility to sell or move anytime
Key benefits
What is this service?
A CHIP Reverse Mortgage is designed for homeowners 55 and older. Instead of making monthly payments, you borrow against your home's equity and repay only when you sell, move, or pass away. It's a way to turn the value you've built into cash—without monthly stress. HomeEquity Bank, Canada's leader in reverse mortgages, makes this simple and straightforward.
Who it's for
If you're 55 or older and looking to boost your cash flow in retirement without selling your home, a reverse mortgage can be life-changing. Retirees wanting more financial flexibility, parents wanting to help adult children with a down payment, anyone with significant home equity and limited liquid assets, or those seeking to access their home's value while staying put can all benefit from a CHIP mortgage.
How it works
We start by reviewing your home's value and how much equity you can access—up to 50% of your home's value. I'll explain your options: you can take a lump sum, receive monthly installments, or get a combination of both. There's no income or credit check, so qualification is straightforward. You choose how and when to receive your funds. No payments are ever due while you own and live in the home. When you eventually sell, move, or pass away, the mortgage is simply repaid from your home's sale proceeds.
It starts with a conversation.
Let's talk.
Tell me a bit about your situation and I'll show you what's possible.
