5 Year Fixed 2.99%

5 Year Variable 2.21%

Senior Equity Mortgages


Let is us provide an unbiased factual explanation of the reverse mortgage market in Canada.

And if it's the product for you we can manage your mortgage application with our efficient stress-free process. We do all the work

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The reverse mortgage business in Canada is surrounded my misconception and falsehoods, due to sister markets in other country's.
Please call today and lets us walk you through your questions and concerns. Will a monthly deposit help you rather than a lump sum of cash? The birth of Income advantage (cash flow product) has made it incredibly efficient for seniors to supplement there income tax free.


The big advantage with the CHIP Reverse Mortgage is that you do not have to make any payments – principal or interest – for as long as you or your spouse live in your home. That’s what has made reverse mortgages such a popular solution in Canada, the U.K., the U.S., Australia and other countries. 

You can receive up to 55% of the value of your home. The specific amount is based on your age and that of your spouse, the location and type of home you have, and your home’s current appraised value. 

You can choose how you want to receive the money. CHIP gives you the option of receiving all the money you’re eligible for in one lump sum advance, or you can take some now and more later, or you can receive planned advances over a set period of time. 

You receive the money tax-free. It is not added to your taxable income so it doesn’t affect Old Age Security (OAS) or Guaranteed Income Supplement (GIS) government benefits you may receive. 

You keep all the equity remaining in your home. In many years of experience, 99 out of a 100 homeowners have money left over when their CHIP Reverse Mortgage is repaid. On average, the amount left over is 50% of the value of the home when it is sold.



Myths about Reverse Mortgages. A Reverse Mortgage is a product that many financial planners recommend as an important component of a comprehensive retirement plan.  Reverse Mortgages have evolved from a needs-based product to a viable way to keep the home you've worked hard for, pay off debt and make no payments. 

The Bank Owns My Home - The homeowner always maintains title ownership and control over their home, and they decide when they'd like to move or sell.

We Will Owe More Than The House Is Worth - The bank has a conservative lending practice with all reverse mortgage products and allow clients to only take a maximum of 55% of the appraised value.

The Rates Are Too High - It's true the rates may be slightly higher than a traditional mortgage product but, that is simply because no payments are required for as long as you own the home.

A HELCO IS A Better Product - Sure, Home Equity Lines of Credit are good, short term products, but they require income and various qualifying criteria.  In comparison, a reverse mortgage is equity based and provides a long term solution to retirement planning.



  • Are you a homeowner over the age of 55?
  • Do you have little/no mortgage outstanding on your property?
  • Do you have a debt that you are looking to consolidate?
  • Are you an elderly homeowner looking for an alternative to expensive nursing home living?
  • Are you an elderly homeowner looking to renovate your property?
  • Are you an elderly homeowner looking to supplement your RRIF or Pension Benefits income?

If you answered "yes" to any of the above, then a CHIP Reverse Mortgage is for you

Find out more about whether you qualify to reverse your mortgage now.
In 5 minutes we can provide how much you pre-qualify for.
Call now 613-656-0777