GraduateWhy Consider a Reverse Mortgage?

  • For most seniors you are unlocking the value of your biggest asset

  • You are in complete control of your CHIP loan, you are the owner of the home, and remain the owner-CHIP is simply a first mortgage registered on title, like any other mortgage. After CHIP is repaid, you or your family have all of the remaining equity.

  • You can receive up to 40%, and possibly 50%, of the value of your home, tax free

  • You have complete flexibility as to how you receive the payments, for example one lump sum, several lump sum payments, regular monthly payments

  • There is complete flexibility as to how the funds received can be used

  • No payments are required while the homeowner and spouse remain in the home. All that is required is that property tax, insurance, and maintenance and condo fees are maintained up to date.

  • The homeowner keeps all of the remaining equity in the home.

  • CHIP guarantees that the amount to be repaid will never exceed the fair market value of the home at the time it is sold.

  • Tax Savings-if it is decided to use the CHIP funds to purchase non registered investments such as GIC’s or mutual funds, you may be able to deduct the CHIP interest charges from the income those investments earn.

Benefits of a Reverse Mortgage

  • You maintain ownership and control

  • You or your family keep all of the remaining equity

  • Your estate is well protected

  • Flexibilty

  • You can save on taxes

  • You are able to rebalance your assets to use the equity in your home to enhance your retirement

  • No monthly payments are required

 

To begin the process it is as simple as calling 1-888-236-8861, sending us an e-mail, or filling in our online application so that we may contact you.

Let a reverse mortgage help you take advantage of your retirement years.