Reverse Mortgage

CHIP Reverse Mortgage is a loan secured against the value of the home. Unlike a loan or a regular mortgage, with CHIP Reverse Mortgage you are not required to make regular mortgage payments. The loan is repaid only when the homeowners no longer live in the home.

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.

The CHIP Reverse Mortgage can help to:

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

 

 

Income Advantage

Income Advantage is a reverse mortgage, a loan secured against the value of the home. If your clients want the convenience of monthly or quarterly advances, Income Advantage is the product for them. Unlike a loan or a regular mortgage, with Income Advantage you are not required to make regular mortgage payments. The loan is repaid only when the homeowners no longer live in the home.

The homeowner is required to keep the property in good condition, up-to-date with property taxes and home insurance. The money received is tax-free and can be used however the homeowner wishes.

Income Advantage can help your clients:

  • With the convenience of regularly scheduled advances
  • By providing additional income
  • Preserve investment portfolios longer
  • Lower tax liabilities long term*

* Always consult your accountant or financial advisor

 

 

CHIP Max

CHIP Max is a reverse mortgage loan secured against the value of the home. This product is designed to give your younger clients access to a greater amount of their home equity. Unlike a loan or a regular mortgage, with a CHIP Max reverse mortgage, your clients are not required to make regular mortgage payments. The loan is repaid only when the homeowners no longer live in the home.

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.

CHIP MAX CAN HELP YOUR CLIENTS:

  • Pay off debts
  • Have cash for unforeseen expenses
  • Maintain their lifestyle in retirement
  • Provide more value in the long run

 

 

CHIP Open

CHIP Open is a reverse mortgage loan, secured against the value of the home. This product is designed for clients searching for a short-term financing solution, without any prepayment penalties for full payments. Unlike a conventional mortgage, CHIP Open does not require regular monthly mortgage payments and offers your clients the ability convert to a CHIP Reverse Mortgage if they require a longer-term lending solution.

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.

CHIP OPEN CAN HELP YOUR CLIENTS:

  • Obtain the capital to seize a present opportunity
  • Pay off debts
  • Assist with their bridge financing needs
  • Handle unexpected expenses