WHO CAN QUALIFY?
- Canadian Home Owner
- Age 55 and Older
- Own Your Home
- Your Home is your Primary Residence
Get up to 55% of your Home’s Appraised Value, Tax Free. Some Conditions Apply.
- No Payments Required
- You maintain Ownership and Complete Control of your Home
- The CHIP Reverse Mortgage only becomes due when BOTH owners sell or move out. CHIP Reverse Mortgage guarantees the amount to be repaid will never exceed the market value of your home so your estate is safe as well.
- Over 99% of homeowners have money left over when their CHIP Reverse Mortgage is repaid, and on average, the amount left over is more than 50% of the value of the home. The equity remaining after repaying the loan is completely yours.