CHIP Reverse Mortgages

Saskatoon, Warman, Martensville & Saskatchewan Mortgages

What is a CHIP Reverse Mortgage?

CHIP Reverse Mortgage solutions designed for senior Saskatoon and Regina homeowners

It's a financial solution designed for Senior Canadian homeowners

If you're like many people in the Saskatoon, Regina, Warman, Martensville and surrounding areas of Saskatchewan, you've spent much of your life working hard and diligently making your mortgage payments. Yet now that you need income the most, there’s a good chance the bulk of your net worth is locked up as equity in your home. Fortunately there's a solution. By choosing the CHIP Reverse Mortgage, you receive income in your lifetime while retaining full control of the place where you rest your head.

The biggest benefit of the CHIP reverse mortgage is that you are not required to make regular payments for as long as you or your spouse lives in your home.

Call Today to Find Out More

CHIP Reverse Mortgage Quick-Facts and Features

Helping people in Saskatoon, regina, Warman, Martensville and across Saskatchewan for all their Reverse Mortgage Needs

  1. 1

    Tax Free Money

    The money you receive does not constitute a part of your taxable income, meaning that your Old Age Security (OAS) and Guaranteed Income Supplement (GIS) is not affected.

  2. 2

    Maintain Ownership of Your Saskatoon, Regina or Saskatchewan Home

    Contrary to popular belief, you will not lose your home with a Canadian reverse mortgage. You'll never be asked to move or sell to repay your CHIP Reverse Mortgage. The requirement is to maintain your property and stay up-to-date with property taxes, fire insurance and condominium or maintenance fees while you live there.

  3. 3

    Use The Money Anyway You Wish

    A reverse mortgage can help you enjoy your retirement or cover unexpected expenses. Pay for medical bills, upgrade your home, help family and loved ones, travel and pay monthly expenses without depleting your current savings. The only condition is that any outstanding loans secured by your home must be paid out with the proceeds from your CHIP Reverse Mortgage.

  4. 4

    Keep All Remaining Home Equity

    In many years of experience, 99 out of 100 homeowners have money left over when their CHIP Reverse Mortgage is repaid. And on average, the amount left over is 50% of the value of the home when it is sold.

  5. 5

    Basic Qualification

    To qualify you must be a Canadian home owner, 55 years of age or older. The age qualification applies to both you and your spouse. Get up to 55% the value of your home; No credit, no health check and no income needed. Your home must be your primary residence.

  6. 6

    No Repayment While Living In your Home

    Regular mortgage payments are not required while you or your spouse are living in the home. The full amount only becomes due when you and your spouse no longer live in the home.

FREE Downloadable Information on CHIP Reverse Mortgages

Below you will find a range of valuable information in regards to CHIP Reverse Mortgages in Saskatchewan. Simply click on a link to download the file.

CHIP Reverse Mortgages for people in Saskatoon and across Saskatchewan

What's Your Next Step?

Get in Touch

First time buyer or refinancing? Call for a free quote!

learn more

Apply Now

We shop for the best mortgage option at no charge to you.

learn more

Mortgage Calculators

Crunch the numbers and explore your mortgage options!

learn more

Happy Mortgage Client Testimonials

  • Excellent customer service, great product knowledge, easy to talk to-Lisa is a professional who enjoys her work and cares for her clients!
    Trevor and Debbie
  • Lisa's kindness, professionalism and hard work made our purchase stress free. Thanks for everything and we cannot say how grateful we are as new residents to Saskatoon for all the help you have pro...
    David and Mary
  • I have the opportunity to work with Lisa on a couple of occasions. She is professional and proficient in her job. I've appreciated her willingness to go above and beyond and explain all options av...
    Bonnie C - Saskatoon
  • We really enjoyed working with Lisa. Her excellent service and pleasant personality had led us to refer friends and family to her and they have all been very satisfied with their transactions
    Brian and Jennifer
  • I am so grateful to Lisa for helping me purchase my first home in Saskatoon. I am so delighted she was there for me.
    Sarah

Free Saskatoon, Regina & Saskatchewan Mortgage Guides

Download our guides for free. A great way to learn a bit more about mortgage refinancing, renewals, reverse mortgages and much more.

Let's Get Started
Google Rating
5
users image

Hi, How can I help you?