Reverse Mortgages in Pickering
Maintain ownership and control of your home. Live a better retirement!
With a CHIP Reverse Mortgage you can stay in the comfort of your home without having to move or sell, make no monthly payments, and live a financially stress-free retirement on your own terms.
What is a Reverse Mortgage?
- A Reverse mortgage is a way for homeowners 55 or older to turn up to 55%* of the value of their home into tax-free cash.
- It is a loan secured against the value of the home, but unlike a traditional home equity line of credit or a conventional mortgage it does not require monthly mortgage payments for a long as you live in your home
Your Obligations
You are required to pay your property taxes and home insurance and keep your property well maintained.
Benefits:
- Pay off debts
- Renovate or make your home more accessible
- Handle unexpected expenses
- Help your children or grandchildren
- Improve your day-to-day standard of living
- No payments required unless you choose to move or sell
How To Qualify:
- You and your spouse are both of 55+
- Your home is your principal residence
- Any outstanding loans against your home must be less than the funds available from CHIP
Reverse Mortgages available for seniors! To apply or to discuss your options call us at 1.877.834.9346.
*some conditions apply.
From a guide to reverse mortgages.
Reverse Mortgages in Pickering
Maintain ownership and control of your home. Live a better retirement!
With a CHIP Reverse Mortgage you can stay in the comfort of your home without having to move or sell, make no monthly payments, and live a financially stress-free retirement on your own terms.
What is a Reverse Mortgage?
- A Reverse mortgage is a way for homeowners 55 or older to turn up to 55%* of the value of their home into tax-free cash.
- It is a loan secured against the value of the home, but unlike a traditional home equity line of credit or a conventional mortgage it does not require monthly mortgage payments for a long as you live in your home
Your Obligations
You are required to pay your property taxes and home insurance and keep your property well maintained.
Benefits:
- Pay off debts
- Renovate or make your home more accessible
- Handle unexpected expenses
- Help your children or grandchildren
- Improve your day-to-day standard of living
- No payments required unless you choose to move or sell
How To Qualify:
- You and your spouse are both of 55+
- Your home is your principal residence
- Any outstanding loans against your home must be less than the funds available from CHIP
Reverse Mortgages available for seniors! To apply or to discuss your options call us at 1.877.834.9346.
*some conditions apply.
From a guide to reverse mortgages.