About Us


HomeEquity Bank, a Schedule 1 Canadian Bank, is the leading provider of reverse mortgages to Canadian homeowners aged 55 and over as well as the main underwriter of reverse mortgages in Canada for the past 30 years. With regional offices in Vancouver and Montreal, and a head office in Toronto, HomeEquity Bank works hard to help Canadians live a fulfilling retirement.

HomeEquity Bank is completely focused on serving the needs of Canadians by helping them live a long and stress free retirement. Through its CHIP Reverse Mortgage and Income Advantage products homeowners can access the equity in their home to meet their financial goals.


A CHIP Reverse Mortgage (formally the Canadian Home Income Plan) gives homeowners the ability to unlock the value in their home. They can access up to 55% of their home’s equity in tax-free cash – giving them the ability to enjoy a comfortable retirement.

Unlike a loan or a regular mortgage, with CHIP the homeowner is not required to make payments until they move or sell the home. The homeowners also have the option to receive the money in monthly instalments or initial and periodic advances.


Income Advantage gives homeowners both choice and flexibility. This plan allows them to develop a comprehensive retirement plan inclusive of assets in their portfolio.

The loan is secured against the value in their home and lets them convert part of their home’s equity into cash – without the need to move or sell. They maintain complete ownership and control of their home and have the option to access their money in monthly instalments or initial and periodic advances.



CARP Recommended

HomeEquity Bank has been recognized by CARP, Canada’s largest organization focused on financial security and improving the health and quality of life for mature Canadians.

With our CHIP Reverse Mortgage our goal is to provide Canadian homeowners with a comfortable lifestyle by providing them the financial ability to live the retirement they deserve.


EY Entrepreneur of the Year Finalist

Our very own President & Chief Executive Officer Steve Ranson, was named a finalist for the 2016 EY Entrepreneur of the Year. This prestigious honour places him in select company among some of Canada’s most successful entrepreneurs.


Proudly Serving Canadians for Over 30 Years

In 2017, we reached a 30 year milestone in our story. Although a lot has changed in our 3 decades of business, one thing hasn’t: we are continuously focused on providing Canadians with the financial tools and knowledge they need to live the comfortable retirement they deserve.