Unlock your home equity, stay in your home.
The CHIP Reverse Mortgage for Canadians 55+: access up to 55% of your home value tax-free, with no monthly mortgage payments.
CHIP, HELOC or downsizing?
| CHIP Reverse Mortgage | HELOC | Downsizing | |
|---|---|---|---|
| Monthly payments required | No | Yes | No |
| Stay in your home | Yes | Yes | No |
| Income or credit qualification | No | Yes | No |
| Access to equity | Up to 55% | Varies by lender | Sale proceeds, less moving costs |
| Tax-free funds | Yes | Yes | Varies |
General comparison for illustration. Interest accrues on a reverse mortgage and is repaid when the home is sold. Regulatory disclosures apply; speak with a licensed advisor before deciding.
Questions we hear often.
Plain answers. If yours isn't here, ask us directly.
Ask an advisorCanadian homeowners aged 55 and over. The amount available depends on your age, home value and location.
Yes. You keep title and stay in your home.
You can take a lump sum, planned advances, or a combination. Optional payments are possible but not required.
Interest accrues on the loan and there are setup costs. We go through the full disclosure with you before you decide.
See what your home can do for you.
A short conversation, at a time and place that suits you. No pressure, no obligation.