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CHIP Reverse Mortgage Reviews, Ratings And Fees 2020

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ADDRESS
1881 Yonge Street, Suite 300
Toronto, Ontario
M4S 3C4
BUSINESS HOURS
  • Monday to Friday 8:30 am - 5:30 pm 
  • Saturday to Sunday Closed
WEBSITE
https://www.chip.ca/

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Presentation

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.

Services

Offered Services

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Loan Range
Rate & Terms
Product Details
Eligibility
Requirements & Documents

Mortgages

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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