Posted Interest Rates


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 5.94% $1,795 6.22%
6 Month 5.74% 6.02%
1 Year 5.49% 5.76%
3 Years 5.79% 6.06%
5 Years 5.89% 6.17%

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 1.99%. The fixed spread is guaranteed for 5 years. For contract 21-30, the variable rate is 6.64%