CHIP Reverse Mortgage
When we dream of retirement, we typically picture ourselves in a comfortable place relaxing. Whether that be in our home sharing a meal with our family or relaxing on a beach, most of us want the same thing when we're retired.
However, the reality is that retirement has the potential to bring with it a financial strain.
Often times, seniors are faced with the problem of trying to manage their life with a reduced amount of cash flow than they planned for or dealing with unexpected costs.
At Dominion Lending Edmonton, we understand.
HomEquity bank is the only bank that is committed to empowering senior Canadian homeowners with intelligent, easy options to use their home's value throughout their retirement.
For more than 25 years, our reverse mortgage solution, the Canadian Home Income Plan (CHIP), has helped thousands of older homeowners enjoy the freedom of having increased financial flexibility without having to sell their home or move.
If this sounds like something you may be interested in, CHIP might be the right solution for you.
Features & Benefits of a CHIP Reverse Mortgage
- Homeowners aged 55 and older can qualify
- No payments are required throughout its duration
- No Income qualifications
- No Credit requirements
- You can qualify for up to 50% of your home's value
- You can receive money as a lump sum, distributed over time or as a combination
- You, as the owner, maintains title of the home
- You can move or sell your home at any point
- Receive the money tax-free
"CHIP is a way to take advantage of the equity that you have in your home and use it for whatever purpose you want."
"Without a CHIP Reverse Mortgage, we would have had to sell our home."
"Dealing with CHIP Home Income Plan was very simple. I would recommend the CHIP program to anybody."
If a CHIP sounds like something you think may be right for you, contact me today to discuss the solution and to learn more about how you can use the value in your home!