How to qualify for a RM

You and your spouse’s age (if they are also registered on the title of the home)

The amount you may qualify for with the CHIP Reverse Mortgage from HomeEquity Bank is determined by the following factors:

for a Reverse Mortgage

How to qualify for a Reverse Mortgage

Take this short quiz to find out if you are eligible.

To be eligible to apply for the CHIP Reverse Mortgage in Canada, you (and your spouse) must meet certain criteria.

TAKE THE QUIZ

Will you pay off any existing mortgage or lien against your property with the proceeds from the Reverse Mortgage (or by other funds before the Reverse Mortgage is taken)?

YES

Are you (and your spouse) age 55 or older?

YES

Is your home worth $250,000 or more?

YES

Do you own the property as your primary residence?

YES

You are eligible to apply!

The equity you have in your home

The appraised value of your home

The location of your home

(if they are also registered on the title of the home)

Current interest rates

The home type (e.g. detached, semi-detached, condo, etc.)

RETAKE QUIZ

You are not eligible to apply

You’re age 55 or older

You own the property as your primary residence

Your home is worth $250,000 or more

Any existing mortgage or lien against your property will be paid off by the proceeds from the Reverse Mortgage (or by other funds before the Reverse Mortgage is taken)

To be eligible to apply for the CHIP Reverse Mortgage in Canada, you (and your spouse) must meet the following criteria:

TAKE THE QUIZ

YES

RETAKE QUIZ

1-855-207-2927

Retake Quiz

YES