When most of us dream of retirement, we imagine ourselves in our homes – sharing a meal with family or just relaxing in a comfortable spot.
But retirement can also bring financial strain. Seniors often face the challenge of managing with less cash flow than they anticipated or coping with unforeseen expenses.
We understand. HomEquity bank is the only bank dedicated to empowering older Canadian homeowners with smart, simple ways to use the value of their home during retirement.
For over 25 years The Canadian Home Income Plan (CHIP), our reverse mortgage solution, has helped thousands of older homeowners enjoy more financial flexibility without having to sell or move. CHIP might be the solution for you.
Features of a CHIP Reverse Mortgage
Homeowners age 55 and older
No payments are ever required
No Income qualifications
No Credit requirements
Qualify for up to 50% of the value of the home
Money can be received as a lump sum, or over time or combination
Owner maintains title
They can sell or move at anytime
Receive the money tax free
“CHIP is a way to take advantage of the equity that you have in your home and use it for whatever purpose you want.” Sandy & Christopher M
“If you sell your home you’re gonna be living off the proceeds and what you’re doing now is not selling your home and living off the proceeds.” Edward F
“If it wasn’t for CHIP we would have had to sell our home.” James B
“Dealing with CHIP Home Income Plan was amazingly simple. I would recommend the CHIP program to anybody.” Jan & John M
Contact Faizal Garasia today to discuss CHIP Reverse Mortgage solution and to learn more on how you can unlock the value in your home.