Custom Solutions give clients aged 55+ flexible access to their home equity to help meet a range of financial needs while maintaining home ownership.
HomeEquity Bank interest rates are competitive with other home equity release products. No repayments are required as long as the borrower lives in their home. Choose from a range of Custom Solutions and terms to suit your client’s lifestyle.
Bring more possibilities to clients and prospects
As your clients’ needs evolve, traditional financing may not always be the right fit. Custom Solutions give you another way to address a wide variety of objectives and bring home equity into broader wealth conversations. You can help clients:
- Advance their broader financial goals
- Access a flexible source of capital that may be tax-efficient
- Tailor investment, gifting, and wealth planning strategies
- Retain full home ownership and benefit from potential home-price appreciation
- Gain protection through the No Negative Equity Guarantee1,2
How Custom Solutions can enhance client strategies
Custom Solutions allow clients to access their home equity while maintaining full home ownership and benefitting from potential home-price appreciation. Unlike traditional mortgage loans, Custom Solutions do not require regular monthly payments. Interest continues to accrue on the outstanding balance.
Explore how clients can incorporate their home equity into retirement, investing, and estate planning strategies with HomeEquity Bank Custom Solutions.
Access bridge financing
Help clients access financing for time-sensitive opportunities, such as purchasing a new home before selling their current property.
- Purchase a new home before their current home sells
- Maintain broader financial plans and investment portfolios
- Repay the full loan at any time, without prepayment penalties
Support family through gifting
Help clients explore ways to support children and grandchildren while staying on track with their own retirement and financial goals.
- Help children or grandchildre
- Purchase a home
- Fund education and future opportunities
- Provide equalization gifts as part of an estate planning strategy
- Create a living legacy while maintaining home ownership
Invest in opportunities
Show clients how home equity can be used to fund Canadian investments or business ventures without having to sell existing assets or downsize. This may allow them to preserve their existing portfolios and potentially defer the realization of capital gains, depending on their individual circumstances.
- Pursue investment or business opportunitie
- Preserve retirement portfolios
- Avoid selling investments or other assets to fund opportunities
- Continue living in their home and maintain home ownership
Purchase a vacation property
Funds can be used to purchase a vacation property or second home, helping clients pursue lifestyle goals or potential rental income opportunities.
- Purchase a vacation property or second home
- Avoid selling other assets to fund the purchase
- Maintain ownership of their current home
The right product for the right Custom Solution
Different client goals may call for different product features. Explore our range of products, matched to your client’s needs, whether they require flexible access to funds, a higher loan amount, or a short-term option with no prepayment penalties.
Our most popular product type, the CHIP Reverse Mortgage, is ideal for homeowners 55+ who are looking for an initial lump sum.
Designed for homeowners, CHIP Max can provide clients in select locations with access to a higher percentage of their home equity.
Made for homeowners searching for a short-term financial solution who are willing to pay a higher interest rate and closing fee in lieu of any prepayment penalties.
Discover how much home equity your client can access. Use our interactive calculator to customize a CHIP Reverse Mortgage solution that aligns with your client’s retirement financial goals.
Custom Solutions eligibility
Your clients may qualify if they:
- Are 55 years of age or older
- Own a primary residence in Canada
- Meet a minimum appraised home value of $250,000 or more
Final eligibility depends on age, home valuation, location, and program criteria.
You bring the client relationship. We bring the expertise
HomeEquity Bank specialists can complement your professional advice by providing product expertise and ongoing support throughout your client’s journey.
Whether you’re a mortgage broker, financial advisor, or retail banking professional, our team can help you explore how Custom Solutions may fit into your client’s broader financial strategy.
Ready to explore how Custom Solutions can expand your client conversations? Tap into our expertise today. Our Business Development Managers and Associates are dedicated to helping you build your practice.
1Borrower must maintain property, pay property taxes and homeowners’ insurance, and abide by your mortgage obligations.
2The guarantee excludes any administrative expenses and interest that has accumulated after the due date.