CHIP Reverse Mortgage

Reviews, Ratings And Fees

September 2023 · Written By Caitlin Wood

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/

Rated

| Based on 0 customer reviews

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Provider Details

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 & Products

CHIP Reverse Mortgage Offered Services

Reverse Mortgage

Loan Range: min 25,000
Interest Rate: 3.89.% - 4.84%
Terms (Months): 12 - 60
Funding Time: n/a
Funding Method: n/a
Repayment Options: n/a
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

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