When most of us dream of retirement, we imagine ourselves in our homes - sharing a meal with family or just relaxing in a comfortable spot.

But retirement can also bring financial strain. Seniors often face the challenge of managing with less cash flow than they anticipated or coping with unforeseen expenses. 

A Trusted Regina Mortgage Broker empowers older Canadian homeowners with smart, simple ways to use the value of their home during retirement.

For over 25 years The Canadian Home Income Plan (CHIP) our reverse mortgage solution has helped thousands of older homeowners enjoy more financial flexibility without having to sell or move. CHIP might be the solution for you.

CHIP Home Income Plan is a home equity loan available exclusively to Canadian homeowners to convert a portion of your home equity into tax-free cash. But, unlike a traditional loan or mortgage, you never have to make a payment until you choose to move or sell – although you can make payments if you so choose.

The CHIP Home Income Plan has other advantages over traditional loans or mortgages. For example, there are no income qualifications and once you receive the loan, it can never be recalled.

It's called a Reverse Mortgage because unlike a traditional mortgage in which you make regular payments to a lender, the CHIP Home Income Plan pays you! You do not have to make any payments — principal or interest – for as long as you or your spouse lives in your home.

Features of a CHIP Reverse Mortgage:

• Homeowners age 55 and older
• No payments are ever required
• No Income qualifications
• No Credit requirements
• Qualify for up to 50% of the value of the home
• Money can be received as a lump sum, or over time or combination
• Owner maintains title
• They can sell or move at anytime
• Receive the money tax free