CHIP Reverse Mortgage from
CARP is proud to partner with HomeEquity Bank, the leading provider of the CHIP Reverse Mortgage in Canada. Under the new partnership, HomeEquity Bank’s product line is now officially endorsed and recommended by CARP as a trusted financial solution for Canadians during their retirement years. For over 30 years, HomeEquity Bank has helped thousands of Canadians unlock up to 55% of the value of their home in order to help them live a better retirement.
The Benefits of a CHIP Reverse Mortgage:
- Access up to 55% of the value of your home
- Stay in the home you love and avoid downsizing
- Maintain full ownership and title of your home
- There are no regular monthly mortgage payments required!
- Receive tax-free cash (the funds do not affect the Old-Age Security or Guaranteed Income Supplement benefits)
- Use the funds however you choose
Who is eligible for CHIP in Canada?
- Canadian Homeowner (own your home)
- Your home is your primary residence
- Age 55 or older
CHIP Reverse Mortgage clients can use the proceeds however they choose, such as:
- Paying off and/or consolidating debt
- Home renovations and repairs
- Covering unexpected expenses (medical, emergency)
- Financially supporting children/grandchildren
- Improving or maintaining your standard of living
- Paying for a vacation or a special purchase
Offer available now, inquire today!