Have a question? We're here to help

CHIP Free Guide

What is a CHIP Reverse Mortgage?

Income Today. Your Home For a Lifetime.


Your home

It's where you raised your family and built your memories. When something means this much to you, it can be hard to think about the challenges. But challenges do exist.

If you're like many Canadians, you've spent much of your life working hard and diligently making your mortgage payments. Yet now that you need income the most, there’s a good chance the bulk of your net worth is locked up as equity in your home. Fortunately there's a solution. By choosing the CHIP Reverse Mortgage, you receive income in your lifetime while retaining full control of the place where you rest your head.

Security. Ownership. Flexibility - CHIP Reverse Mortgage

CHIP Reverse Mortgage HomEquity Bank

The CHIP Home Income Plan, now called a CHIP Reverse Mortgage, was created by HomEquity Bank, a Schedule 1 Canadian Bank. It was founded in 1986, over 30 years ago, as an annuity based solution addressing the financial needs of Canadians who want the freedom to enjoy retirement without having to move or sell their home.

A Secure Source of Income

Simply put, a CHIP Reverse Mortgage® is a loan secured by your home that does not require any monthly mortgage payments until you choose to move or sell. All you have to do is keep your property in good maintenance, pay your property taxes and property insurance.

Designed with Homeowners in Mind

We know just how important it is for Canadians to age in place: your home and neighbourhood are important to you and with a CHIP Reverse Mortgage® you don’t have to sell your home to live off the proceeds. You have the freedom to stay in your home, you maintain ownership and can enjoy the lifestyle you dreamed of for your retirement.

A Canadian Solution

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

A Brief History of Our Company

1986Canadian Home Income Plan Corporation is founded in Vancouver, BC.


National Distribution - the CHIP Home Income Plan is now available in every province.

After starting in Vancouver, the CHIP Home Income Plan expanded to Ontario and Alberta next, gaining popularity and eventually being offered in every province.


HomEquity Bank becomes a Chartered Bank.

Trading under the symbol HEQ, HomEquity Bank became a Schedule 1 Canadian Bank on October 13th, 2009.

HEB Stock Exchange Opening


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

Canadian Home Income Plan

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


HomEquity Income Trust is publically traded.

Listed on the Toronto Stock Exchange (TSX), HomEquity Income Trust traded as the stock symbol HEQ.UN


HomEquity Bank continues to offer the CHIP Reverse Mortgage, formerly CHIP Home Income Plan, across Canada to senior homeowners 55 and over. With regional offices in Vancouver and Montreal, and the head office in Toronto, HomEquity Bank works hard to help Canadian seniors live a fulfilling retirement.


CHIP Reverse Mortgage & Reverse Mortgage Statistics

Over 30 years in business
of clients would recommend the CHIP Reverse Mortgage
Canadian Flag
100% Canadian
How Reverse Mortgages Work

How it Works?

If you're like many other 55+ Canadians, much of what you own fits into two categories - the equity in your home ...

Learn More

Reverse Mortgage Videos

Reverse Mortgage Videos

Watch these videos from HomEquity Bank and learn more about CHIP Reverse Mortgage

View More

Contact Us

CHIP Free Guide

Thank You!

Your Details have been successfully submitted.
Check your inbox for future updates.