Please note that due to current operating restrictions related to COVID-19 actual estimate amounts will be lower than currently quoted.
Please speak to your BDM to review your client's quote.

FIND THE BEST REVERSE MORTGAGE SOLUTION FOR YOUR CLIENT

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With HomeEquity Bank your client has many flexible options to help them get the most out of the equity in their home and live a better retirement. Find out how much your client may qualify for and configure a Reverse Mortgage solution tailored to their needs.

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Reverse Mortgage Calculator

Find out the Reverse Mortgage loan amount your client may qualify for by entering their details into the calculator below.

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Should the homeowner(s) decide to apply, an independent home appraisal is required and will be used to determine the loan amount they are eligible to receive.

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March 31, 2019
Results:
Estimated Reverse Mortgage Amount:
$XX,XXX
Product:
Income Advantage
Term:
5 Years
Interest Rate:
5 Years
Homeowner 1 Details:
Homeowner 2 Details:
Age:
55
Age:
58
Gender:
M
Gender:
F
Postal Code:
A1A1A1
City:
Toronto
Property Type:
Condo-apartment
Home Value:
$500,000.00
Your client may be eligible for a $XXX Income Advantage Reverse Mortgage. Please contact your Business Development Manager for more information. To locate your Business Development manager, please go to: www.chipadvisor.ca/bdm.
Current Rates:
Estimated Loan Amount*
Mortgage Quote
Mortgage Quote
N/A
N/A
For more information and the latest rates visit our site at https://www.chipadvisor.ca/
March 31, 2019
Created For: Jonathan MacDonell
Created By: Aanenson #647-123-1234
A reverse mortgage is a loan that allows you to access the equity in your home without requiring you to sell or make any regular mortgage payments. Home equity is the difference between the market value of your home and any remaining loans that are owed on the property.
house
Gertrude Based on your inputs, here is a personalized summary of what your reverse mortgage and home equity could look like over time.
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Approximate Home Value:
$500,000
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Reverse Mortgage Amount:
$100,000
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Years Remaining in Home:
10 years
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Interest Rate Term:
5 years
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Annual Home Appreciation Rate:
6%
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Selected Product:
CHIP Reverse Mortgage
Today
In 5 Years
Home Value
$1,000,000
$1,480,244
Reverse Mortgage
$500,000
$500,000
Interest
$0
$403,054
Remaining Home Equity
$500,000
$577,191
After 10 years you could have $272,009 remaining in home equity.
graph
Home Equity
Interest
Reverse Mortgage
Year
Reverse Mortgage
Interest Rate
Accrued Annual Interest
Estimated End of Year Mortgage Balance
Estimated Future Home Equity
Estimated Remaining
Home Equity
0
$500,000
6%
$ -
$500,000
$1,000,000
$500,000
1
$500,000
6%
$30,450
$530,450
$1,040,000
$509,550
house
Based on our calculations, after X years  you could have $XXX remaining in home equity.
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Benefits of Income Advantage
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Access up to 55% of the value of your home in tax-free cash without having to sell
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Funds received are tax-free and can be used for whatever you choose
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No monthly mortgage payments required
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Convenience of regularly scheduled advances
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Provides you with additional income
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Preserves investment portfolio
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No monthly mortgage payments required
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Get access to cash for large unforeseen expenses
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Funds received are tax-free and can be used for whatever you choose
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Avoid high-interest loans or an additional mortgage
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No monthly mortgage payments required
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Access your home equity for short-term needs
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Repay 100% of balance at any time with no prepayment charges
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Flexibility to convert to a longer-term reverse mortgage solution at anytime
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No monthly mortgage payments required
Ready to take the next step?
If you would like to learn more about Income Advantage and how it can be an active tool in your financial plan, contact me, Jenniffer Aanenson, at JAanenson@gmail.com or reach me at 647-123-1234.