CHIP Reverse Mortgage

Security Ownership Flexibility - CHIP Reverse Mortgage

Access up to 55% of the value of your home!

A CHIP Reverse Mortgage lets you change the equity you have in your home into tax-free cash. Unlike many mortgage-based financial products, you’re not obligated to make any payments until you choose to move or sell. 

 

FAQ's

What is CHIP? A CHIP Reverse Mortgage is a home equity loan exclusively to Canadian homeowners who are 55 or older.

What if a homeowner has an existing mortgage? You may qualify even if you still owe money on your mortgage. A reverse mortgage could be used to help you consolidate your debt and reduce your monthly payments. 

How is a Reverse Mortgage different than a HELOC (Home Equity Line of Credit)? While HELOC's are good for short-term borrowing they are callable loans and there is a risk of non-renewal or cancellation. 

*Subject to approval. Some conditions may apply. All content is subject to change without notice.

Bookmark and Share