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What is the CHIP Reverse Mortgage?
Income Today, Your Home for a Lifetime.

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Clients

Your home

It's where you raised your family and built memories. When your home means this much to you, you shouldn’t have to worry about selling it to fund your retirement. If you’re like most Canadians, you’ve spent your life working hard to make your mortgage payments. But now, in the early stages of retirement, you may need your money most. When you choose the CHIP Reverse Mortgage, you don’t have to choose between the home you love and the retirement you deserve. You’ll receive income while retaining full control of your home. It’s your life, so retire how you’d like.


Security. Ownership. Control. It’s all in the CHIP Reverse Mortgage.

CHIP Reverse Mortgage HomEquity Bank

The Canadian Home Income Plan, now called the CHIP Reverse Mortgage, was created by HomeEquity Bank. It was founded in 1986 and offered to homeowners who wanted the freedom to enjoy retirement while staying in their own home.

A Secure Source of Income

Simply put, the CHIP Reverse Mortgage® is a loan secured by your home. It allows you to access some of the value in your home without the requirement of monthly mortgage payments until you choose to move or sell. You’re in charge of your retirement, all you have to do is maintain your property and pay your property taxes and insurance.

Designed for Homeowners

We know how much you want to stay in your own home. And you can do exactly that with the CHIP Reverse Mortgage from HomeEquity Bank. You’ll stay in control and retire on your own terms. That means you can keep living your life in the comfort of the home you already own.

A Canadian Solution

The CHIP Reverse Mortgage® is 100% Canadian, provided by HomeEquity Bank, a Federally regulated, Schedule 1 Canadian Bank. In business and serving Canadians for over 30 years, HomeEquity Bank understands the needs of Canadians age 55 and over. With a conservative approach to our lending practices, HomeEquity Bank provides Canadians with the security and high regulatory standards that comes with being a Canadian bank.

A Brief History of Our Company

1986

Canadian Home Income Plan Corporation is founded in Vancouver, BC. by William Turner.

2001

After starting in Vancouver, the Canadian Home Income Plan expands to Ontario and Alberta. It’s eventually offered in every province.

2009

HEB Stock Exchange Opening

On October 13th, 2009, HomEquity Bank is recognized as a Schedule 1 Canadian Bank.

2013

Income Advantage

HomEquity Bank introduces Income Advantage. An opportunity for Financial Planners and Investment Advisors to work with their clients to develop a comprehensive retirement plan, inclusive of assets in their portfolio (investments, pensions and home equity).

2014

The name changes to CHIP Reverse Mortgage. HomEquity Bank continues to offer CHIP across Canada to homeowners 55 and over. With regional offices across Canada, HomEquity Bank works hard to help Canadian homeowners live a safe and secure retirement.

1986

Canadian Home Income Plan

Canadian Home Income Plan Corporation is founded in Vancouver, BC.

 

Founded by William Turner, The CHIP Home Income Plan was initially offered in Vancouver.

2002

HomEquity Income Trust is listed on the Toronto Stock Exchange (TSX), and is publicly traded as the stock symbol HEQ.UN

2012

timeline-2002

HOMEQ Corporation announces the closing of an arrangement involving HOMEQ and Birch Hill Equity Partners. Birch Hill indirectly acquires all outstanding common shares.

2014

The name changes to CHIP Reverse Mortgage. HomEquity Bank continues to offer CHIP across Canada to homeowners 55 and over. With regional offices across Canada, HomEquity Bank works hard to help Canadian homeowners live a safe and secure retirement.

30
Over 30 years in business
94%
of clients would recommend the CHIP Reverse Mortgage
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100% Canadian
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