At Reverse Mortgage 4U, we’ve helped thousands of Canadians tap into their wealth through a CHIP reverse mortgage. If you are over 55, working or retired, and own your home, you can unlock your home equity. Whether you wish to travel, renovate your home, pay off debt or enjoy increased cash flow, a reverse CHIP mortgage is the best way to reach your financial goals. Let us help you access the cash you need now — tax-free. You stay in the home you love and enjoy financial security without mortgage payments.

What is a CHIP Reverse Mortgage?

If you are 55 and over you can access up to 55% of your home value, tax-free. A CHIP reverse mortgage allows you to enjoy more financial freedom while staying in your home without mortgage payments. The older you are and the more equity you have in your home, the more money you have available. You choose how you wish to receive the money, in one lump sum, or through installments. Once you decide to sell, move out of your home or your estate passes on to your loved ones, the balance of your mortgage is then paid.

How do I Qualify for a CHIP Reverse Mortgage?

There are just a few requirements to qualify for your CHIP reverse mortgage:

  • You must be over 55 years of age.
  • You must be a Canadian homeowner.
  • The home being mortgaged must be your primary residence (the home where you reside).

If you own your home with a spouse, they must be over 55 and their name must also be on the application.

How Do I Know How Much Money I Will Receive?

You can access up to 55% of your home’s current value – TAX-FREE. We will assess your home’s current market value based on your home type, location, and condition. Your age will also be considered. From there we let you know how much of the equity in your home is available through a reverse home mortgage.

Does the CHIP Reverse Mortgage Have to Be Paid Back?

Yes, as with any mortgage, a reverse home mortgage is a form of a loan. However, where it differs is that:

  • You no longer make monthly mortgage payments as long as you stay in the home.
  • When you move, sell, or your estate passes on to your loved ones, the balance is paid in full from the proceeds of your home sale.

As with any other home sale, you then keep the remaining balance once the mortgage is paid.

Interested in a reverse mortgage? Let us help.

Our team can help you benefit from your reverse residential mortgage loan. For more information get a copy of our Factbook and find out the benefits of a reverse CHIP mortgage or read our FAQs.

Office Location

14 Martin Street, Milton.
ON. L9T 2P9


Mon – Thur: 8:30am – 6pm
Fri: 8:30am – 3:30pm