A guide to the chip reverse mortgage

At LA Mortgages, we understand that your home holds a special place in your heart.  You've invested time and effort into making it a comfortable space filled with cherished memories, and it's only natural that you would want to continue living there in your retirement years.  That's why we're proud to offer the CHIP Reverse Mortgage, a financial solution that has helped thousands of Canadians like you over the past three decades.  

With the CHIP Reverse Mortgage, you won't have to worry about making monthly mortgage payments until you decide to sell or move.  This means that you can enjoy the freedom of staying in your beloved home, without any added financial stress.

We encourage you to take a few minutes to explore the information on this page, which explains how the CHIP Reverse Mortgage works and how it can help you achieve a worry-free retirement in the home you love.

If you're a Canadian homeowner aged 55 or older, a reverse mortgage could be a valuable option for you. It allows you to access up to 55%* of your home's value as tax-free cash, giving you the security to retire in the comfort of your own home.  

The loan is secured against the value of your home, but unlike a traditional home equity line of credit or conventional mortgage, there are no monthly mortgage payments to worry about as long as you continue to live in your home.

Your only responsibility is to keep your property well-maintained and up-to-date with property taxes and home insurance.  

HomeEquity Bank, a Federally Regulated Canadian Bank, provides the CHIP Reverse Mortgage.

Please note that certain conditions apply, and we encourage you to ask us for more details.