HomeEquity Bank is a Schedule I bank founded in 1986 by William Turner in Vancouver, BC. They are based out of Toronto, ON and have been operating for over four decades. In 2013 HomeEquity Bank introduced Income Advantage, allowing financial planners and investment advisors to work with clients and develop comprehensive retirement plans. Income Advantage was changed to CHIP Reverse Mortgage in 2014 with the focus on helping Canadian homeowners secure a safe retirement.

CHIP Reverse Mortgage helps homeowners 55 and older live and relax looking forward to a comfortable future. Through CHIP, homeowners can access up to 55% of the value of their home without having to sell it.

Pros

• Offers free guide
• Offers free calculator
• Many on-site articles and videos on retirement planning
• Largest Reverse Mortgage lender in Canada

Cons

• Loans only up to 55% of home value

Award

A+ from the BBB

Reviews

HomeEquity Bank has the following online reviews available:

• BBB – A+ rating with the Better Business Bureau

All reviews updated as of 10/22/19.