We are very pleased to announce that we are now offering Reverse Mortgages / Retirement Mortgages in Calgary with the Canadian Home Income Plan (CHIPs). If you own your own home and you are over the age of 55 you can have the fincial freedom you deserve.
The CHIP Home Income Plan has helped thousands of Canadian over the age of 55 who are looking for a simple, sensible way to unlock the value in their homes - homes that they're very comfortable in and don't want to have to sell. "CHIP helps me get the money I need to enjoy life on my terms." Reverse mortgage client, Canada
Wouldn't it be nice if you had the money to do more of the things you want to do for yourself and for your family? A CHIP Home Income Plan could be just what you need. It's the simple and sensible way to unlock the value in your home and turn it into cash to help you enjoy life on your terms.
A CHIP Home Income Plan is a reverse mortgage secured by the equity in your home. Unlike a traditional mortgage in which you make regular payments to someone else, a reverse mortgage pays you. A CHIP Home Income Plan is designed exclusively for homeowners age 55 and older. This age qualification applies to both you and your spouse.
The big advantage with CHIP is that you do not have to make any payments - principal or interest - for as long as you or your spouse live in your home.
You can receive up to 50% of the value of your home. The specific amount is based on your age and that of your spouse, the location and type of home you have, and your home's current appraised value.
You can choose how you want to receive the money. CHIP gives you the option of receiving all the money you're eligible for in one lump sum advance, or you can take some now and more later, or you can receive planned advances over a set period of time. You can even combine a lump sum advance at the beginning with ongoing advances over time.
“We didn’t want to sell the family home where we’d raised our seven children. But we were short on cash for living expenses. With our CHIP Home Income Plan, our debts are gone and so is our stress!” Angus M., 82 and Louise M., 77
We are very proud to be partnering with CHIPs and the Home Equity Bank to provide critical financial options for home owners over the age of 55 in Calgary and across Canada. To apply for a Reverse Mortgage please visit our site at Calgary Mortgage Brokers and fill out the 30 second quick application on the home page. For more information on this mortgage solution and many others including 0% down, credit challenges, and renovation mortgages, please visit our Online Mortgage Resource Center.
Larry Arnason, Calgary’s Leading Mortgage Broker