The benefits of the CHIP Reverse Mortgage
The freedom to retire in the home you love
Why choose CHIP?
- Get up to 55% of the value of your home
- Stay in your home
- Maintain full ownership and control
- Free yourself from monthly mortgage payments until you choose to move or sell
- Option to make advance interest payments
Your retirement, your way
- Pay off debts
- Renovate your home
- Take care of unexpected expenses
- Help the ones you love
- Enjoy the retirement you deserve
- Travel
- Purchase a vacation property
How to apply
The process is simple
1. Contact your broker
Contact your mortgage broker for more information about CHIP Reverse Mortgage.
2. Get an appraisal
Once you decide to proceed, your mortgage broker will help arrange for an appraisal of your home.
3. Fill out an application
Once we receive the appraisal, you’ll know exactly how much you are approved for. Just complete a dimple form confirm the amount of money you want, and we’ll answer any questions you may have
4. Speak to a lawyer
Before everything is finalized, we require you to review the information with an independent lawyer of your choice.
$. Get your money
You will receive your tax-fee money as a lump sum or multiple instalments.