The CHIP Reverse Mortgage is offered by HomeEquity Bank and is one of Canada's most popular reverse mortgage options.
Equitable Bank offers residential and commercial mortgages via mortgage brokers; it's known for being one of two banks to offer reverse mortgages in Canada.
CHIP Reverse Mortgage from HomeEquity Bank is Canada’s top provider of reverse mortgages. Request your free estimate today!
What is a reverse mortgage ; A reverse mortgage is a type of loan for homeowners, usually aged 55 or older. It allows you to borrow money from your home equity without selling your home. You may do so by converting a portion of your home equity into tax-free money. Financial institutions sometimes call this “equity release.” · You may usually borrow up to 55% of the current value of your home. This money doesn’t affect the Old Age Security (OAS) or Guaranteed Income Supplement (GIS) bene...
Use our mortgage payment calculator to estimate your monthly mortgage payments in Canada. Enter your loan details to get an accurate and quick assessment of your mortgage costs.
Find out how to calculate a reverse mortgage prepayment penalty with Equitable Bank’s prepayment calculator.
The OSFI Canadian Mortgage Calculator stress test requires all... Mortgage brokers account for over 35% of mortgage originations in Canada through securing competitive rates. Reverse...
A reverse mortgage offers seniors in Canada a way to tap into their home equity. Learn more about how it works and about the funding process today.
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11% of Canadian households reported planning to obtain a reverse mortgage as a source ofincome upon retirement (Statistics Canada, 2014). Nakajima and Telyukova (2017) report similar low...