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- A CHIP reverse mortgage is a loan secured against the value of your home, allowing you to unlock the value without selling or moving away12. It is available to Canadian homeowners aged 55 and older. The application process involves providing proof of age, home ownership, and home value3. The loan amount is determined based on the appraised value, borrower's age, and interest rate34.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.CHIP is a reverse mortgage, a loan secured against the value of your home. It lets you unlock the value in your home without having to sell or move away. The money you receive is tax-free and yours to use as you wish.www.homeequitybank.ca/products/chip-reverse-mo…As the most popular reverse mortgage product in Canada, the CHIP Reverse Mortgage is a loan secured against the value your home that enables Canadian homeowners 55+ to access up to 55%* of the equity in their home without having to move, sell or make regular interest payments.www.chip.ca/chip-reverse-mortgage/The application process for a CHIP reverse mortgage is straightforward. The borrower must provide proof of age, ownership of the home, and the value of the home. The lender will then appraise the home and determine the loan amount based on the appraised value, the borrower's age, and the interest rate.retirebetter.ca/blog/the-ultimate-guide-to-chip-rever…The CHIP Reverse Mortgage allows you to turn some of your home equity into tax-free cash. You can access up to 55% of its value. The amount that you can access is based on several factors such as; your age, property location, home type and appraised home value.www.chip.ca/
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See results only from chip.caCHIP Reverse Mortgage - Canada's Leading Plan
WEBWhat is the CHIP Reverse Mortgage? The CHIP Reverse Mortgage allows Canadian homeowners age 55+ to access up to 55% of their home’s value and turn it into tax-free cash without having to move or sell and no …
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WEBSep 6, 2023 · With a CHIP Reverse Mortgage you can take up to 55% of the value in your home, as tax-free cash, stay in your home for as long as you wish, maintain complete ownership and control of your home at all …
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