CHIP Reverse Mortgage is provided by provided by HomeEquity Bank, a Federally regulated Canadian Bank. IT was originally known as the Chip Home Income Plan, but they re branded to its current name in 2014. As in its name, CHIP Reverse Mortgage provide a reverse mortgage program for individuals over 55 years of age.The reverse mortgage is a loan secured against the value of your home. Their program is available to all Canadian provinces expect the territories.
Services & Products
CHIP Reverse Mortgage Offered Services
Reverse Mortgage
Loan Range
Up to 55% of home value
Interest Rate
–
Terms (Months)
12 – 60
Eligibility
Must be a Canadian homeowner
Must be 55+ years old
Requirements & Documents
2 personal forms of identification
Proof of address
Signed application
Other required legal documents
Property insurance
Proof of property taxes payments
Customer Experiences
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