Unlock Tax-Free Cash with the CHIP Reverse Mortgage
As you enter retirement, financial stability may be top of mind. Whether you’re looking to cover unexpected expenses, help family members, or simply enhance your lifestyle, having access to additional income can make a difference. For Canadian homeowners aged 55 and better, the CHIP Reverse Mortgage by HomeEquity Bank provides a smart, flexible way to access tax-free cash from your home’s equity. How Does the CHIP Reverse Mortgage Work? The CHIP Reverse Mortgage allows you to unlock up to 55%1 of the value of your home without the need to sell or move and unlike a traditional loan, there are no monthly mortgage payments required. Three Ways You Can Use Your Home Equity Why Choose the CHIP Reverse Mortgage? Is the CHIP Reverse Mortgage Right for You? If you want to enhance your retirement lifestyle while staying in the home, you love — without dipping into your savings — the CHIP Reverse Mortgage could be a potential solution for you. To explore how you can access tax-free cash through your home’s equity, contact your Dominion Lending Centres mortgage expert to learn more about the CHIP Reverse Mortgage. 1Some conditions apply. 2Survey conducted by Ipsos on behalf of HomeEquity Bank April 12-16, 2022 3As long as you keep your property in good maintenance, pay your property taxes and property insurance and your property is not in default. The guarantee excludes administrative expenses and interest that has accumulated after the due date