CHIP Reverse Mortgage

Need help with your CHIP reverse mortgage process? 

Unlock the value of your home with a  CHIP reverse mortgage 



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Services

CHIP Reverse Mortgage

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CHIP is a reverse mortgage, a loan secured against the value of  the home. Unlike a loan or a regular mortgage, with CHIP you are not  




required to make regular mortgage payments. The loan is repaid only when  the homeowners no longer live in the home.

The homeowner is required to keep the property in good condition,  up-to-date with property taxes and property insurance. The money  received is tax-free and can be used however the homeowner wishes.

 

A CHIP Reverse Mortgage can help you:

  • Pay off debts
  • Handle unexpected expenses
  • Help children or grandchildren
  • Improve day-to-day standard of living
  • Make a special trip or purchase



      

FEATURES YOU WILL LOVE

  

Keep home ownership

  

Your clients can now stay in their home and community. Homeowners  maintain complete ownership and control of the home for as long as they  choose to stay.

  

No regular monthly payments

  

With a CHIP Reverse Mortgage, there are no regular mortgage payments until the homeowner decides to move or sell.

  

Relieve financial stress

  

Up to 55% of the equity in the home is available and can be used however the homeowner wishes.

  

Take control

  

Your clients can get their finances under control and gain the freedom to set their own plans and priorities.

  

Enjoy retirement

  

The money accessed through CHIP is tax-free and will not affect CPP or OAS.

    

Income Advantage

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Income Advantage is a reverse mortgage, a loan secured against the  value of the home. If your clients want the convenience of monthly or  quarterly advances, Income Advantage is the product for them. Unlike a  loan or a regular mortgage, with Income Advantage you are not required  to make regular mortgage payments. The loan is repaid only when the  homeowners no longer live in the home.

The homeowner is required to keep the property in good condition,  up-to-date with property taxes and home insurance. The money received is  tax-free and can be used however the homeowner wishes.

 

Income Advantage can help you:

  • With the convenience of regularly scheduled advances
  • By providing additional income
  • Preserve investment portfolios longer
  • Lower tax liabilities long term*

 

* Always consult your accountant or financial advisor.



      

FEATURES YOU  WILL LOVE

  

Keep home ownership

  

Your clients can now stay in their home and community. Homeowners  maintain complete ownership and control of the home for as long as they  choose to stay.

  

No regular monthly mortgage payments

  

With Income Advantage, there are no regular mortgage payments until the homeowner decides to move or sell.

  

Relieve financial stress

  

Up to 55% of the equity in the home is available and can be used  however the homeowner wishes. Enjoy retirement. The money accessed  through Income Advantage is tax-free and will not affect CPP or OAS.

  

Take control

  

Your clients can get their finances under control and gain the freedom to set their own plans and priorities.