The person who handled my application, Agnes, was great as were her communication skills and client focused demeanour. She did her best to work toward our goal of obtaining the funding. That bei... See more
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Company details
- #1 of 2 best companies in Bank
- #14 of 20 best companies in Financial Consultant
- #2 of 2 best companies in Mortgage Broker
Written by the company
The CHIP Reverse Mortgage by HomeEquity Bank is the leading Reverse Mortgage offered in Canada. Designed for Canadian Homeowners 55+ to access up to 55% of their home equity without ever needing to move or sell. The CHIP Reverse Mortgage provides peace of mind by allowing you to live retirement on your terms without having to worry about monthly mortgage payments.
CHIP Reverse Mortgage: There's No Retirement Like Home
Written by the company
- The CHIP Reverse Mortgage provides Canadian homeowners 55+ with a safe, simple solution to retire in the home they love. Whether planned or unexpected costs arise, the CHIP Program will allow you to take control of your finances and keep your independence through your retirement.
Contact info
Royal Bank Plaza, South Tower, 200 Bay Street, Suit 3500, M5J 2J1, Toronto, Canada
- 1-866-758-2447
- info@chip.ca
- chip.ca
Replied to 88% of negative reviews
Typically replies within 2 weeks
Home Equity Bank
Our mortgage specialist, Holly Hoy, was excellent and answered and explained all our questions and concerns. This type of mortgage was perfect for our situation. With the exception of a couple of computer hiccups it was a relatively smooth process. We thank Holly for her incredible patience.
Relax and enjoy retirement …
Vivianne made our experience so smooth and easy
Thank you for going above and beyond helping us
Nicole and Geulee
Great option for my circumstances.
I did a lot of research before I went ahead with the mortgage. I worked with a great broker who answered all my questions. This is a good option for many people depending on your circumstances. I highly recommend looking into it and not prejudging before you look at all the numbers and options they give you.
Audra was so great and answered every…
Audra was so great and answered every question we had. She guided us all the way through. She was very professional and really knew her stuff. It made this process very painless for Valerie and myself. I just want to thank Audra and Home Equity Bank. It was a very good plan for us. Thankyou Equity Bank and Audra.
Sandy & Valerie
Aaron was wonderful to work with
Aaron was wonderful to work with, he was thorough, knowledgeable and kind.
Great communication no problems at all.
Outstanding customer care
Outstanding customer care, CHIP treats clients with respect and patience ensuring a smooth, dignified process
The personal are great to work…
The personal are great to work with.This gives me the opportunity to stay in my home
Neil was patient and made the best…
Neil was patient and made the best process easy to understand
Excellent Service and Support
Our adviser, Neil Sharma, kept us informed every step along the way and did everything he did to help us with the process.
the people I have delt with have been…
The people I have delt with have been amazingly helpful thank you everyone
Everyone we dealt with was great
Everyone we dealt with was great. Kyle Dykxhoorn was excellent helping us through the whole process. Helped us with our senior tech issues too. Thank you.
Teamwork
The team that I have worked with were very professional and friendly. Manasi the Mortgage Specialist was very pleasant to deal with. Thank you.
May use AI-assist with repliesRead more
Unfair evaluation
At the last minute Equity bank decided to withhold $100,000 from the amount that was approved. This was because I had an arrears on my property tax amount that resulted from EMPAC backdating their assessment by 2 years. I could not pay the reassessed amount, but I did pay my monthly tax bill for 2 years after this exorbitant tax reassessment.
I explained all of this to the agent but his boss would not reconsider the $100,000 withholding.
So on a home valued at $1,840,000 I got a reverse mortgage payment of $200,000 which I think is very unfair.
Reply from CHIP Reverse Mortgage
Thank you, Niel and HomeEquity Bank.
I would like to thank Niel Palit for all his help and guidance through the process with HomeEquity Bank. With the sudden unexpected illness of a relative it was a relief to have Niel to show me the process and help with the decisions I had to make. It was completed quicker than I expected and gave me peace of mind to know I had extra funds on hand if needed. Thank you, Niel.
Seamless and professional Chip made s…
Seamless and professional Chip made s significant financial process straightforward and stress free, very impressed
Useful means of raising equity
I would like to thank the team at Home Equity Bank, especially Adam Fotias, for helping me negotiate the loan process quickly and efficiently.
I would recommend the Home Equity Bank as an effective means of adding to your retirement resources.
The person who handled my application
The person who handled my application, Agnes, was great as were her communication skills and client focused demeanour.
She did her best to work toward our goal of obtaining the funding.
That being said this was a lengthy process , starting in mid September 2025 and ending January 13, 2026 with the funds being provided.
Despite a few setbacks, Agnes
pushed on to tackle any obstacle that we encountered.
I would definitely recommend Home Equity Bank to anyone that wants to obtain a chip mortgage.
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