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Mortgage

Chip elder couple

Reverse Mortgage

A reverse mortgage is a big decision. Get free help from a licensed mortgage agent from The Laurin Team to guide you along the way and make sure you're happy that the decision is absolutely right for you.

Our advice is impartial and objective - we don't work for any bank or lender.

Get your free assessment and start your financial freedom today!

Request A Call or Quote Now!

 

What is CHIP?

CHIP (Canada Home Income Plan) is a reverse mortgage, a loan secured against the value of the home. Unlike a loan or a regular mortgage, with CHIP you are not required to make regular mortgage payments. The loan is repaid only when the homeowners no longer live in the home.

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The CHIP mortgage does not require income or credit to qualify and does not require regular monthly payments.  The homeowner is required to keep the property in good condition, up-to-date with property taxes and property insurance. The money received is tax-free and can be used however the homeowner wishes.

 

A CHIP Reverse Mortgage can help you:

  • Pay off debts
  • Handle unexpected expenses
  • Help children or grandchildren
  • Improve day-to-day standard of living
  • Make a special trip or purchase

 

Features of a CHIP Reverse Mortgage

Keep Home ownership. You stay in your own home and community. Homeowners maintain complete ownership and control of the home for as long as they choose to stay.

No regular monthly payments. With a CHIP Reverse Mortgage, there are no regular mortgage payments until the homeowner decides to move or sell.

Relieve financial stress. Up to 55% of the equity in the home is available and can be used however the homeowner wishes.

Take control. You get your finances under control and gain the freedom to set your own plans and priorities.

Enjoy retirement. The money accessed through CHIP is tax-free and will not affect CPP or OAS.

 

 

Where To Start?

Get All The Important Facts

We always advise not rushing into any decision. We give you all the information you need to know - the advantages and the disadvantages.

You Will Always Own Your Home. Period.

One of the biggest misconceptions about reverse mortgage is that you might lose your home. This is 100% false. You will always own your home. Period. No ifs or buts or what-ifs. Your home is 100% yours for life.

We'll show you the true disadvantages - you have to still pay your property taxes, insurance and condo fees. You will always own your home as long as you keep up with these. Find out what other falsehoods there out there, we will help you understand.

Get Your Family's Blessing

With so much false information out there about this financial solution, family members can be confused and even scared. With your permission, we will speak to any family members you like and will make sure that they too are happy with your decision.

We understand that it's important that everyone be happy and we will help everyone involved learn how this product can work to change your life. It is true that for some people this will not be the solution for them. But for others it can and has been absolutely life changing.

 

Let The Laurin Team help you! 

Chip elder couple 2Our help is 100% free of charge. We bring you all the objective advice you need for your reverse mortgage decision.

Your time is valuable. There is a lot of incorrect information out there.  You can spend a lot of time going from bank to bank and lender to loan provider and still have no idea how a reverse mortgage could work for you.

Let us do the hard work for you.

We have dealt with hundreds of customers seeking mortgage loan services as part of Dominion Lending Centres Family Mortgage Group.

Let an expert help you with this otherwise stressful decision. With our totally free professional guidance, we’ll make certain that the choice you make is the right one. Learn all the about reverse mortgages canada before acting.

Don’t try to go it alone. Our help is invaluable.

You’ve worked hard your entire life. Now it’s time to sit back and relax. We can take it from here.

 

Contact The Laurin Team To Request A Quote

We will be glad to setup an appointment and answer any questions you may have about the CHIP Reverse Mortgage. Please complete the form below an a Certified Reverse Mortgage Specialist within 24 hours.

 

MortgageRates

TERMS BANK RATES OUR RATES
6 Months 3.14% 3.10%
1 Year 3.04% 2.89%
2 Years 3.24% 2.54%
3 Years 3.44% 2.89%
4 Years 3.89% 2.89%
5 Years 4.94% 2.94%
7 Years 5.30% 3.69%
10 Years 6.10% 3.74%

 *Rates subject to change without notice. Certain conditions may apply. OAC, E & OE. Rates published as of November 14, 2017. For more information, please contact us.

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