The CHIP Reverse Mortgage for Canadians 55 and over
- Access up to 55% of your home value in tax-free cash!
- Keep the home you love
- No monthly mortgage payments
Debt Consolidation
We've Helped Thousands of Canadian Homeowners Live Retirement Their Way
LEARN MORE ABOUT REVERSE MORTGAGESWhat is the CHIP Reverse Mortgage?
The CHIP Reverse Mortgage allows Canadian homeowners age 55+ to access up to 55% of their home’s value and turn it into tax-free cash without having to move or sell. And the best part is, there are no monthly mortgage payments required!
Our convenient, secure (and now contactless!) process means you can complete the entire application from the comfort of your own home - from application through to electronic signature!
Why get a CHIP Reverse Mortgage?
The value of your home has grown over the years and makes up a good portion of your net worth. The CHIP Reverse Mortgage allows you to turn some of your home equity into tax-free cash. You can access up to 55% of its value. The amount that you can access is based on several factors such as; your age, property location, home type and appraised home value.
Benefits of CHIP Reverse Mortgage
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How a Reverse Mortgage Works
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Free Reverse Mortgage Calculator
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Reverse Mortgage Interest Rates
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Reverse Mortgage Rates
CHIP Reverse Mortgage rates are available in fixed terms or variable terms. Check out our current interest rates.
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Home Equity Calculator
Concerned that a reverse mortgage will erode your home equity over time? On average, CHIP customers have over 50% of the value of their home left to enjoy after repaying the loan. Try our calculator to see how your home equity will change over time.
Try Home Equity CalculatorIs a Reverse Mortgage Right For Me?
Many retirees take out a reverse mortgage to boost their retirement income, pay for home renovations, pay for health care expenses or to help them pay off debt while staying in their current home. Regardless of circumstance, we believe that you should live retirement on your terms, in the home you love!
