CHIP Reverse Mortgage– Gain access up to 55% equity in your home today tax free to enjoy your lifestyle !
This E-Book helps you understand what a CHIP Reverse Mortgage is and how you can use the equity in your home for anything you want to do.
Wouldn’t it be nice if you had the money to do more of the things you want to do?
A CHIP Reverse Mortgage 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.
Why get a reverse mortgage?
Here are some examples of how clients commonly use it:
- eliminate debt payments
- help a child or grandchild with a down payment on a home
- purchase a new home (right-sizing instead of having to downsize the home)
- increase cash flow to improve lifestyle (e.g. vacation, new car)
- pay healthcare costs
- pay for an unexpected expense (e.g. home repairs)
How much can you get?
You can receive up to 55%* of the value of your home tax-free.
BENEFITS OF A CHIP REVERSE MORTGAGE
You receive the money tax-free. It is not added to your taxable income so it doesn’t affect Old Age Security (OAS) or Guaranteed Income Supplement (GIS) government benefits you may receive.
What is a reverse mortgage and how does it work?
It is a loan secured against the value of your home, but unlike a traditional Home Equity Line of Credit (HELOC) or a second mortgage, you are not required to make monthly mortgage payments for as long as you live in your home. You always maintain ownership and control of your home.
There are 2 programs when it comes to Chip Reverse Mortgages and you get to choose to either take advantage of 1 or both of the programs.
The first program is the CHIP Reverse Mortgage which is a lump sum program:
Up to 55% for a CHIP Reverse Mortgage (dependent upon age, location
and type of home).
- Minimum $25,000 for lump-sum initial advance.
- Minimum $5,000 for each subsequent advance.
The second program is the Income Advantage Program which is a monthly payment program for you:
Up to 55% (dependent upon age, location and type of home); 75% of which
is available in the first year.
- Planned advances from $500/month or $1,500/quarter.
- Minimum $5,000 for each subsequent advance
To learn more about how these great programs can help you, contact us today. Have apply now button under this text and link to application page
Get Approved Today
Use The Equity In Your Home Today To Enjoy Your Life
Get Your Money!
Get Your Money In As Little As 2-5 Business Days!
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“Instant Approval, Conditional Approval, Pre-Approval” – Borrower subject to credit and underwriting approval. Not all borrowers will be approved for conventional financing or equity financing. Receipt of borrower’s application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, Annual APR is subject to approval and underwriting, APR includes all fees and rate which is calculated on a yearly term. APR varies contact us for current rates or more information on a specific product. OAC*