​What is a Chip? CHIP is a reverse mortgage, which is described as a loan secured against the value of the home. It
allows the homeowner to qualify for up to 55% of their home value and convert it into cash to
pay off debt, use as an income stream and retirement planning or renovate their home without having to move or sell.

​Benefits of CHIP?

Relieve financial stress
Your clients can qualify for up to 55% of the equity
in the home to pay off debt or unforeseen expenses.

No payments
No payments are required (principal or interest) for
as long as the homeowner lives in the home.

Maintain Ownership
With CHIP, the homeowner maintains title ownership of
the home.

Tax-Free Money
The money accessed with CHIP is tax-free.

Who should I offer CHIP to?

Clients that are homeowners over the age of 55 who
are in need of money to pay debt or expenses.
As the life expectancy age rises in Canada, it is
important that your clients have a stress-free and
financially stable retirement.

Success stories
After first learning about CHIP from her mortgage
broker, Karen used her money to pay off debt that
had built up after her husband’s stroke. Creditors are
no longer calling, and she is now free to spend
quality time with her husband.

Bill and Linda learnt about CHIP from their banker,
and after learning about all the benefits, used the
money for much needed home renovations and
repairs which they weren’t able to previously pay for.
​
Miriam was able to take a trip she always promised
herself with extended family and friends without
having to take money from her precious retirement
savings.

​Repaying the loan

​The loan is only required to be repaid when the
homeowner no longer lives in the home.

With close to 30 years of offering reverse mortgages,
99% of clients have equity remaining in the home
when the loan is repaid.
​
Below is an example illustrating the preservation of
equity over a 15 year period.

​Calculations based on a CHIP rate of 4.75% and home
appreciation of 3% annually.

This chart is an illustration for a client who owns a
$300,000 home and took a lump sum of $100,000
with their CHIP Reverse Mortgage. The chart shows
how the client maintains a large portion of equity in
the home.
​
This is due to HomEquity Bank’s conservative lending
practices combined with typical home appreciation,
as well as a low interest rate environment.

INVIS
​Fredericton, NB
​Sylvie Ann Messer
Mortgage Professional - Invis
License # 160000397
Office: 506-206-3672​
Cell: 506-471-3775 | Fax: 506-206-4655