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


Keep home ownership

Your clients can now stay in their 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 CHIP Max, there are no regular mortgage payments until the homeowner decides to move or sell.


Up to 55% of the equity in the home is available and can be used however the homeowner wishes, to enjoy retirement. The money accessed through CHIP Max is tax-free and will not affect CPP or OAS.

Take control

Your clients can get their finances under control and gain the freedom to set their own plans and priorities.

*Subject to homeowners meeting their mortgage obligations

HomeEquity Bank Prime Rate: %

The following is a summary of the current CHIP Max interest rates and terms offered by HomeEquity Bank.

term interest rate closing and administrative costs1 Annual Percentage Rate (APR)2
Variable3 % $ %
6 Month % %
1 Year % %
3 Years % %
5 Years % %

CHIP Max is only available in certain locations and is subject to meeting HomeEquity Bank’s credit granting criteria.

1These fees and interest rates may vary based on individual circumstances, including any additional rate premiums added on your file.
2APR is the estimated cost of borrowing for years expressed as an annual percentage. It is based on a mortgage of $ and includes the applicable closing costs.
3Variable refers to the HomeEquity Bank Prime Rate plus a fixed spread of %. The fixed spread is guaranteed for years.



Find out how much your client can get using the online calculator.


Contact your Business Development Manager who will answer any questions you or your client may have and walk you through the straightforward application process.


Your client receives their tax-free money!

Frequently Asked Questions

Who can qualify?

It is required that your clients are over 55, own the home, and use it as the primary residence, CHIP Max requires no health checks.

  1. This age requirement applies to both spouses.
How much of the home’s equity can be accessed through CHIP Max?

CHIP Max lets your clients access up to 55% of the home’s appraised value.

How will my clients receive their money?

CHIP Max is structured to ensure your clients get the money they need in precisely the way they want it. They can access money in a lump-sum or optional subsequent advances.

When it’s time to repay the loan, could my client’s other assets be affected?

We guarantee that the amount to be repaid will never exceed the fair market value of your client’s home.* Your client’s other assets are completely protected.

Will the bank own the home?

No. Your client retains title and maintains ownership of their home. It’s required for your client to live in the home, pay taxes on time, have property insurance, and maintain the property in good condition.

What if my client has an existing mortgage?

Yes, many of our clients use a reverse mortgage to pay off their existing mortgage and debts.

* Conditions apply. You must maintain the condition of your property and your taxes and insurances must be up to date. Guarantee, excludes administrative fees and interest accumulated after due date. Always consult your accountant or financial advisor.



Keep your clients up-to-date with these downloadable CHIP Max resources.