How does a reverse mortgage work?
Your home. It’s where you raised your family and built your memories. When something means this much to you, it can be hard to think about the challenges. But challenges do exist.
If you’re like many people in the Niagara Region, 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.
Chip Reverse Mortgage Considerations
• All Rates are dependent on the individual financials
• Calculations need to be reviewed by and expert
Decide how much income you think you might need.
Call us to find out how much you can qualify for.
Receive the money you need in one lump sum or multiple instalments.
The full amount only becomes due when you & your spouse pass away, when your home is sold, or if you decide to move.