CHIP Reverse Mortgage for CARP Members

CARP members receive a cash rebate of $250!*

Happy elderly couple smiling together in their home enjoying financial freedom through Chip Reverse Mortgage

CHIP Reverse Mortgage for CARP members

Since 2017, the CHIP Reverse Mortgage has been endorsed and recommended by the Canadian Association for Retired Persons (CARP) as a trusted financial solution for you!

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, CARP members receive a $250 cash rebate upon funding their CHIP Reverse Mortgage!*

*Click here for Terms and Conditions

We Share Values With Our Partners

Since 2017, HomeEquity Bank and CARP have come together to share a commitment to empower ageing Canadians to live their lives with dignity and independence.

Ageing in place

Financing your retirement

Freedom and empowerment

Webinar

The Caregiving Crunch: Discussing Canadian Home Healthcare Solutions

Join HomeEquity Bank’s Chief Financial Commentator, Pattie Lovett-Reid, as she moderates an insightful discussion about the obstacles and solutions to accessing in-home healthcare in retirement.

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
Only provider of reverse mortgages in Canada recommended by CARP

**Some conditions apply

To find out more about this special offer for CARP members, please call:

1-866-680-2447

Client Testimonials

The mortgage has given me a peace of mind by eliminating all my debts and allowing me extra money for expenses related to home repairs and necessities of old age. I definitely recommend this financial product to anyone seeking to access equity in their home.

– Ana H.

HEB has been a fantastic way for me to relax a bit in my retirement, knowing that I have that financial buffer for any emergencies that may come up. I would highly recommend HEB for anyone in my position.

– Roger J.

Our experience with Home Equity Bank fills us with gratitude for the chance to continue living in the home we’ve cherished and loved for four decades. Equally important, it provides us with a sense of financial security for the years ahead.

– Nemencio N.

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

GET MY FREE ESTIMATE

Frequently Asked Questions

How do I qualify for this offer?

To be eligible, you must be a CARP member for 30 days 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.

Want to learn more about CARP? Visit CARP.ca

For the full list of FAQs, visit our FAQ page here