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Access up to 55% of the value of your home

The Reverse Mortgage Process is Easy!

  1. 1


    Find out how much money you can get with a free estimate

  2. 2


    Our consultants and specialists will contact you to verify your information and answer questions.

  3. 3


    Receive the money you need in one lump sum or multiple installments

  4. 4


    There are no monthly mortgage payments. The full amount becomes due when you are no longer in the home.

How Does A CHIP Reverse Mortgage

Work in Canada

CHIP Home Equity Calculator

Changing the Financial Equation

If you're like many other 55+ Canadians, much of what you own fits into two categories—the equity in your home and the money you've saved. Chances are, the value of your home has grown over the years and makes up a good portion of your net worth. While having a home that has built value is a positive, you typically can’t spend that value unless you sell it. And that’s something many homeowners simply do not want to do.

That’s where CHIP comes in.

A CHIP Reverse Mortgage lets you change the home equity and savings balance by turning some of your equity into cash. Unlike many mortgage-based financial products, you’re not obligated to make any payments until you choose to move or sell.

What makes this program work is that participants only take up to 55% of the value of their homes, which ensures you have access to the cash you want and also the security you need.

CHIP Reverse Mortgage

You're In Control with a Reverse Mortgage

You worked hard to become a homeowners, and it’s important to us that we keep it that way. With a CHIP Reverse Mortgage®, you always maintain control of your home*. In other words, you will never be forced to sell or move as a result of changing home values or earning power (remember, there are no monthly mortgage payments). And we guarantee the amount that you or your estate eventually has to repay will never exceed the fair market value of your home at the time t is sold*. There’s no reason your home should ever be a burden to you or your family.

* As long as you keep you property in good maintenance, pay your property taxes and meet your obligations outlined in your mortgage contract.

Value in Home

Your Money, Your Way

The CHIP Reverse Mortgage is structured to ensure you get the money you need in precisely the way you want it. Whether you wish to receive your money over time or in one lump sum, the choice is yours. Likewise, if at any time you would like to repay the principal and interest in full or switch to paying interest on an annual or monthly basis, you can do that too.*

*Prepayment charges may apply
House Value

You Have Earned Your Home Equity

We believe you have the right to access the equity in your own home, regardless of your current income or health. To benefit from a Reverse Mortgage, there’s no need to provide information about your income, or medical history.

HomEquity Bank

By Canadians, For Canadians

A CHIP Reverse Mortgage is a Canadian financial solution that benefits Canadian homeowners. The CHIP Reverse Mortgage®, has been available to Canadian homeowners since 1986 and is provided by HomeEquity Bank, a schedule 1 Canadian Bank.

Find out how much money you can get?

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How Reverse Mortgages Work

What is CHIP?

A CHIP Reverse Mortgage is a home equity loan available exclusively to Canadian homeowners 55 or older.

Learn More
Reverse Mortgage Videos

Reverse Mortgage Videos

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

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CHIP Free Guide

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