Current Interest Rates

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HomeEquity Bank Prime Rate: 3.95%

For Québec: click here to download HomeEquity Bank's current rate sheet.

For all provinces outside Québec: The following is a summary of the current CHIP Reverse Mortgage interest rates and terms offered by HomeEquity Bank.

term interest rate closing and administrative costs1 Annual Percentage Rate (APR)2
Variable3 6.99% $1,795 7.30%
6 Month 6.99% 7.30%
1 Year 6.99% 7.30%
3 Years 7.24% 7.55%
5 Years 7.49% 7.81%

These fees and interest rates may vary based on individual circumstances, including any additional rate premiums added on your file.
1 These fees may vary based on individual circumstances.
2 APR is the estimated cost of borrowing for 5 years expressed as an annual percentage. It is based on a mortgage of $150,000 and includes the applicable closing costs.
3 Variable refers to the HomeEquity Bank Prime Rate plus a fixed spread of 3.04%. The fixed spread is guaranteed for 5 years.