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CHIP Reverse Mortgage Reviews, Ratings And Fees January 2021

Be the first to review CHIP Reverse Mortgage
1881 Yonge Street, Suite 300
Toronto, Ontario
M4S 3C4
  • Monday to Friday 8:30 am - 5:30 pm 
  • Saturday to Sunday Closed

Who Is CHIP Reverse Mortgage

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.


Offered Services

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Loan Range
Rate & Terms
Product Details
Requirements & Documents


min 25,000
Interest Rate
4.99% - 5.59%
Term (Months)
6 - 60
Funding Time
Funding Method
Repayment Options
  • Must be a Canadian homeowner
  • Must be 55+ years old
  • 2 personal forms of identification
  • Proof of address
  • Signed application
  • Other required legal documents
  • Property insurance
  • Proof of property taxes payments 

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