HomeEquity Bank (French: BanqueHomeEquity) is a Schedule 1 Canadian Chartered Bank, founded in 1986 as the Canadian Home Income Plan Corporation. HomeEquity Bank is the first Canadian bank to offer reverse mortgages to Canadian homeowners aged 55 and over. HomeEquity Bank originated $767 million reverse mortgages in 2018,[1] up 26% from the previous year. By the end of 2022, HomeEquity Bank had grown its mortgage portfolio to over $5 Billion (Cdn.), representing an annual growth rate of 23%. [2]
In addition to the CHIP Reverse Mortgage, HomeEquity Bank also offers the Income Advantage loan, CHIPMax and GICs.
^Randall, Steve. "HomeEquity Bank reports 26% rise in reverse mortgage originations". Which Mortgage Canada. Retrieved 2019-11-06.
^Singh, Ajay. "The 2022 Canadian Reverse Mortgage Market: A Year of Significant Growth". RetireBetter.
HomeEquityBank (French: Banque HomeEquity) is a Schedule 1 Canadian Chartered Bank, founded in 1986 as the Canadian Home Income Plan Corporation. HomeEquity...
This is a list of banks in Canada, including chartered banks, credit unions, trusts, and other financial services companies that offer banking services...
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