CHIP Reverse Mortgage for Legion members
HomeEquity Bank, provider of the CHIP Reverse Mortgage, is proud to be endorsed by The Royal Canadian Legion as a trusted organization offering a safe and secure financial solution to help Canadians support their retirement.
For more than 35 years, HomeEquity Bank has helped over 70,000 Canadians aged 55 and better achieve financial freedom and stay in the homes they love. As part of our ongoing commitment, Legion members receive a $500 cash rebate upon funding their CHIP Reverse Mortgage!*
*Click here for Terms and Conditions
We Share Values With Our Partners
Since 2019, HomeEquity Bank has partnered with The Royal Canadian Legion to empower Veterans and their families to live a secure retirement on their terms with a special rebate exclusive to Legion members.
In addition, as the official Presenting Partner of the Royal Canadian Legion’s Digital Poppy campaign, HomeEquity Bank is honoured to partner with The Legion National Foundation to help share our Veterans’ stories of bravery, courage, and sacrifice and raise donations in support of Veterans and their families.
Honouring and remembering Canada’s Veterans: Digital Poppy through the years
2019 – The Launch of Digital Poppy
HomeEquity Bank paid tribute to Canada’s military heritage with its inaugural sponsorship of the Digital Poppy. To drive awareness, the bank produced a national TV ad featuring one of Canada’s oldest Veterans Private (Ret’d) Ardwell “Art” Eyres, who donates a Digital Poppy to his friend Sgt. Maj. John Copeland.
2020 – Pause to Remember
HomeEquity Bank and the Legion partnered with popular video game streamers on the Twitch streaming platform for a virtual moment of silence to teach younger generations about the service and sacrifice of our Veterans and that war is not a game.
2021 – Orders of Sacrifice
Throughout history, soldiers have relied on rations to maintain their strength and vitality during war. Offering a tangible connection to the hardships faced by our soldiers, Home Equity Bank delivered historically accurate ration kits to homes across Canada.
2022 & 2023 – Letters Home
Letters Home helped to connect current homeowners to residents from the past by sending replica letters from Canadian soldiers who fought in the First and Second World Wars to their originally intended addresses across Canada.
Why should you consider the CHIP Reverse Mortgage?
- Access up to 55%** of the value of your home in tax-free cash
- Maintain ownership and control of your home
- No regular mortgage payments required
- No impact to OAS or CPP
- Recommended by The Royal Canadian Legion
**Some conditions apply
To find out more about this special offer for Legion members, please call:
How you can use your CHIP Reverse Mortgage
Pay off debts
Cover an unexpected expense
Renovate your home
Pay for a special vacation
Help children or grandchildren
Frequently Asked Questions
How do I qualify for this offer?
To be eligible, you must be a Legion member prior to submitting an application to HomeEquity Bank. Your application is deemed to be received by HomeEquity Bank on the date the appraisal is ordered.
When will I receive the rebate?
You will receive this rebate within 90 days following the funding of your reverse mortgage.
How can I learn more about the CHIP Reverse Mortgage?
The CHIP Reverse Mortgage allows Canadians homeowners 55+ to access up to 55% of their home equity in tax-free cash. For detailed information about reverse mortgages, get your FREE information guide here.
How is the CHIP Reverse Mortgage regulated?
CHIP Reverse Mortgage is offered by HomeEquity Bank, a Schedule 1 Canadian Bank and member of the Canadian Bankers Association. As such, HomeEquity Bank is regulated by the Federal Bank Act.
How can I receive proceeds from a Reverse Mortgage?
You can take the funds from your CHIP Reverse Mortgage upfront in a single lump-sum payment. Alternatively, you can take the funds as an initial lump sum payment with scheduled advances over time to supplement your income.
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How it Works?
If you're like many other 55+ Canadians, much of what you own fits into two categories - the equity in your home ...
Reverse Mortgage Videos
Watch these videos from HomeEquity Bank and learn more about CHIP Reverse Mortgage