A Simple Strategy
Are you a 55+ Canadian? If you are, chances are most of your equity fits into these two categories: your home, and you savings account. And this can be a great situation for you, especially if the value of your home increased over the years. But unfortunately, the value of your home is usually locked into your property until you decide to sell it, and that’s something most homeowners do not want to do.
Fortunately, after seeing this, institutions have developed what we now call a “Reverse Mortgage”. A reverse mortgage puts the power back in your hands. It lets you turn some of the equity of your home into liquid cash, ready for you to use. How specifically? Well the amounts can be deposited in a lump sum into your account or in monthly payments. But let’s explore the details of how this all works.
If you already know about Reverse Mortgages and would like to get a free evaluation click here.
Your home remains safe
Don’t worry! You still maintain control of your home. You’ll never be forced to sell or moved as a result of changing your home value. There’s no reason your home should ever be a burden for you or your family. All that happens is that instead of you paying for your home, that asset is now working for you, and paying you. We also guarantee the amount that you or your estate eventually have to repay will never exceed the fair market value of your home at the time it’s sold.
Benefits of A CHIP Reverse Mortgage
- Pay off debts
- Renovate or make your home more accessible
- Handle unexpected expenses
- Help your children or grandchildren
- Improve your day-to-day standard of living
- Make a special trip or purchase
Other Beneficial Features
- Get up to 55%* of the value of your home
- Stay in your home
- Maintain full ownership and control
- No payments required unless you choose to move or sell
- Receive the money tax-free
Lump sum or Monthly Payments
You have a choice to receive the payments from your reverse mortgage as a lump sum or as monthly payments, whichever is most convenient to you! And if you wish to change the way you receive your payments along the way it’s very easy to switch up as well. If you’re wondering how much equity you can take out, click here to get a free evaluation.
No need to provide income information or medical history
We believe you’ve earned your home equity fair and square, and now it’s time it started working for you. There’s no need to provide information about your income, any income statements, or medical information to benefit from a reverse mortgage. It’s really geared to help you out, no matter your situation.
Our Financial Partners
Our partners for this are Home Equity Bank – A canadian financial institution, built to benefit Canadian Home Owners. The CHIP Home Income Plan, now called a CHIP Reverse Mortgage, has been available to Canadian homeowners since 1986, and is provided by Home Equity Bank, a Schedule 1 Canadian Bank.
*Some exceptions apply, see if you qualify by getting your free evaluation below.
Is this for you?
Take a look at some of these testimonials, to see how the reverse mortgage has helped other people just like you obtain a better quality of life. These come directly from The CHIP Reverse Mortgage (By Home Equity Bank) Website.
Get A Free Reverse Mortgage Evaluation
Discover how much equity you can take out from your home today! Get a lump sum or monthly payments and start living a better quality of life now. Fill in the form below.
One of our brokers will evaluate your situation for free! Just give us a little more information about yourself.
Enter your contact information below so we can give you the good news!
- Basic Information
- Use of Funds
- More Information
What type(s) of property do you have?
Estimated Value Of Home
Use of Funds
What Will you use the funds for?
Credit Card Debt
Do you have a secured line of credit? If you do, for how much?
Mortgage Balance Left To Pay
Also, if you have any questions, don’t hesitate to ask! We know these subjects can seem a bit complicated, and sometimes there’s so much information it can be overwhelming. But we’re here to help you understand, and build your way to greater financial wealth. Click here to contact us, or just chat with Olympia on the bottom right hand of the screen!