Chip Mortgages
Uses, Benefits, and Who Qualifies
With a Chip Reverse Mortgage, you’ll be able to live in your home you love and have worked hard for enjoying a comfortable lifestyle. I it understood that Canadians above the age of 55 tend to have unique requirements that grow in complexity over time in comparison to regular tradition means.
Uses
- Relieve Financial Pressures
- Increase cashflow
- Buy a vacation Property
- Home Renovation
- Assist Family with
- Health Expenses
- Clear Debt
Benefits
- Own your own home
- No regular monthly payments
- Funds are tax free
- Does not affect OAS or CPP
- Get up to 55% of the value of your home (Lump sum or Monthly Installments)
Who Qualifies
- Canadian Homeowners
- Age 55 and over
- Home must be your primary residence