What is a CHIP reverse mortgage?

CHIP reverse mortgage is a brand of reverse mortgage offered by HomeEquity Bank, a federally regulated Schedule 1 Canadian bank. HomeEquity Bank is Canada’s oldest and largest reverse mortgage provider.

A CHIP reverse mortgage is like other reverse mortgages in that it provides cash to senior homeowners with no payments required until the homeowner sells and/or leaves their home.

Compared to competing brands, CHIP:

See “What is a reverse mortgage?“.