Reverse Mortgages Made Easy

Get the tips and tricks you need to make your retirement amazing!

The CHIP Reverse Mortgage for Canadians 55 and over

There is no place to retire like your own home
  1. 1

    Estimate

    Find out how much money you can get with a free estimate. This is a no-hassle consultation and you are not obligated in any way.

Estimate
Estimate
  1. 2

    Review

    Your Chip Reverse Mortgage Consultant will contact you to verify your information and answer any questions you may have.

  1. 3

    Receive

    You can receive your payments either in a lump sum or in multiple installments once your reverse mortgage is approved.

Receive
Payment
  1. 3

    Payment

    You may choose to make monthly payments on your reverse mortgage. You will never lose ownership of your home if you don’t. The mortgage is due when you no longer live in the home.

CHIP Reverse Mortgage Quick-Facts and Features

  1. 1

    Tax Free Money

    The money you receive does not constitute a part of your taxable income, meaning that your Old Age Security (OAS) and Guaranteed Income Supplement (GIS) is not affected.

  1. 2

    Maintain Ownership of Your Home

    Contrary to popular belief, you will not lose your home with a Canadian reverse mortgage. You'll never be asked to move or sell to repay your CHIP Reverse Mortgage. The requirement is to maintain your property and stay up-to-date with property taxes, fire insurance and condominium or maintenance fees while you live there.

  1. 3

    Use The Money Anyway You Wish

    A reverse mortgage can help you enjoy your retirement or cover unexpected expenses. Pay for medical bills, upgrade your home, help family and loved ones, travel and pay monthly expenses without depleting your current savings. The only condition is that any outstanding loans secured by your home must be paid out with the proceeds from your CHIP Reverse Mortgage.

  1. 4

    Keep All Remaining Home Equity

    In many years of experience, 99 out of 100 homeowners have money left over when their CHIP Reverse Mortgage is repaid. And on average, the amount left over is 50% of the value of the home when it is sold.

  1. 5

    Basic Qualification

    To qualify you must be a Canadian home owner, 55 years of age or older. The age qualification applies to both you and your spouse. Get up to 55% the value of your home; No credit, no health check and no income needed. Your home must be your primary residence.

  1. 6

    No Repayment While Living In your Home

    Regular mortgage payments are not required while you or your spouse are living in the home. The full amount only becomes due when you and your spouse no longer live in the home.

Questions?

THERE'S NO TIME LIKE THE PRESENT

Go Ahead. Get the Reverse Mortgage You Deserve.

Happy Clients