Today’s Reverse Mortgage Rates updated as of October 8, 2025 9:36 pm
*Rates can change at anytime. Other conditions apply. Rate in effect as of today.
The CHIP Reverse Mortgage by HomeEquity Bank is Canada’s leading reverse mortgage solution, specifically designed for homeowners aged 55 and older. With CHIP, you can access up to 55% of your home’s value without monthly payments, providing you with the financial flexibility to live comfortably while staying in your home as part of a reverse mortgage.
The CHIP Reverse Mortgage is a loan that allows Canadian homeowners to convert a portion of their home equity into tax-free cash. Unlike traditional loans, it doesn’t require monthly payments. The loan, along with interest, is repaid only when you sell your home, move out, or pass away.
For more details on how reverse mortgages work, visit the Financial Consumer Agency of Canada (FCAC).
As of 2025, CHIP reverse mortgage offers some of the most competitive reverse mortgage rates in Canada:
For the latest rate updates, visit CHIP Reverse Mortgage Rates.
Canada’s Most Trusted Provider
With over 30 years of experience, HomeEquity Bank has helped thousands of Canadians access their home equity safely and securely.
No Negative Equity Guarantee
You’ll never owe more than your home’s value when it’s sold. This guarantee ensures that your financial future is secure.
Flexible Payout Options
Choose from lump sum, scheduled payments, or a combination to fit your financial goals.
Tax-Free Funds
Your reverse mortgage payments are tax-free and won’t affect government benefits such as Old Age Security (OAS) or Guaranteed Income Supplement (GIS).
Stay in Your Home
Retain ownership and continue living in your home while accessing its value.
Use our Reverse Mortgage Calculator to get an estimate of your borrowing potential.
Here’s a breakdown of typical fees associated with an CHIP Reverse Mortgage:
Understanding the market trends and usage patterns for reverse mortgages can help you make informed decisions. Here are key statistics:
Eligibility is simple:
Yes, CHIP reverse mortgages in Canada are regulated by federal and provincial laws. Lenders like HomeEquity Bank and Equitable Bank offer government-backed solutions with no negative equity guarantees.
The loan is typically repaid when you sell your home, move into long-term care, or pass away. You or your estate won’t owe more than the home’s fair market value at the time of sale.
Here are some examples of how clients commonly use it:
No, both you and your spouse must be at least 55 years old to qualify for a reverse mortgage in Canada.
No, as long as you meet your obligations, such as keeping your property taxes and insurance up to date, you can stay in your home for life.
Canadian reverse mortgages come with a no negative equity guarantee, meaning you’ll never owe more than the value of your home.
The loan is typically repaid when you sell your home, move into long-term care, or pass away.
Yes, prepayment penalties may apply. However, Equitable Bank offers flexible repayment options to minimize costs.
At Citadel Mortgages, we’re dedicated to helping you find the best financial solutions. Our partnership with HomeEquity Bank allows us to offer the CHIP Reverse Mortgage with competitive rates and personalized service.
Understanding your reverse mortgage potential is easier with our Reverse Mortgage Calculator. This tool provides an instant estimate of how much equity you can access based on:
Try the Citadel Mortgages Reverse Mortgage Calculator today to explore your options!
An CHIP Reverse Mortgage offers Canadian homeowners a secure, flexible way to unlock their home equity. Whether you’re planning for retirement, managing debt, or funding home improvements, this financial tool provides the freedom to live comfortably without monthly payments.
Contact Citadel Mortgages today to explore how an Equitable Bank Reverse Mortgage can work for you.