Custom Solutions: Turn Home Equity Into Financial Possibility

You may qualify if you:

• Are 55 years of age or older
• Own a primary residence in Canada
• Meet a minimum appraised home value of $250,000

Final eligibility depends on age, home value, location, and program criteria.

Yes. Funds can be allocated across multiple objectives at the same time, including family gifting, education support, investments, or charitable initiatives. Once funds are received, you control how they are used.

When incorporated into a broader strategy and depending on your individual circumstances, Custom Solutions may help:

• Reduce the value of your taxable estate
• Lower potential probate fees
• Enable lifetime gifting and legacy planning

Consider speaking with tax, investment or estate planning advisors if you have questions about your specific financial circumstances. Coordination with legal and financial advisors is recommended to ensure alignment with your estate goals. HomeEquity Bank specialists can assist in supporting those conversations.

Custom Solutions is best evaluated as part of a broader financial conversation. A consultation with a HomeEquity Bank specialist can help determine:

• How much home equity is available
• Which product structure best fits your objectives
• How it could support your tax, investment, and estate plans

Consider speaking with tax, investment or estate planning advisors if you have questions about your specific financial circumstances. Coordinating with your advisors (if you have them) helps ensure the solution supports your long-term goals.

Typically, funds accessed through Custom Solutions are not considered taxable income. This may allow you to preserve investments, manage liquidity, and coordinate gifting or investment strategies more efficiently. Consult your tax advisor to ensure alignment with your overall tax plan.

Cash gifts are typically tax-free for the recipient, unless the funds later generate taxable income. This makes Custom Solutions an effective way to support children or grandchildren. Always consult your tax professional to confirm how gifting applies to your specific situation.

Eligible homeowners can access up to 55% of their home’s appraised value, depending on age, property details, and outstanding mortgage balances—unlocking meaningful capital while maintaining flexibility and peace of mind.

Once approved and closed, funds are disbursed directly from HomeEquity Bank. Access typically occurs within a few weeks, depending on appraisal, legal review, and any advisor coordination.

Custom Solutions includes standard fees which typically consist of:

• Appraisal fee (to determine your home’s value)
• Legal fees (for closing and registration)
• Closing costs (such as administration fees)

All fees are disclosed upfront during your consultation, and most can be deducted from the funds you receive, so there’s no need for out-of-pocket payment at closing.

Custom Solutions uses the HomeEquity Bank CHIP Reverse Mortgage product structure, so the interest rates are similar to those offered for CHIP. Rates can vary based on factors such as:

• The amount of equity you access
• The type of rate you choose (fixed or variable)
• Market conditions at the time of closing

Your exact rate will be confirmed during your consultation, and you’ll have the option to select the structure that best fits your financial goals.

Yes. You can select either a fixed rate, which stays the same for the term you choose, or a variable rate, which moves with market conditions. Your HomeEquity Bank specialist will review both options with you so you can choose the structure that best aligns with your financial goals.

No. There are no required monthly principal or interest payments. Interest accrues over time and is generally repaid when the home is sold, you move out permanently, or upon the passing of the last surviving borrower. Voluntary repayments are permitted. A prepayment charge may apply as set out in your agreement.

Yes. You remain the owner of your home and keep your name on the title. Custom Solutions simply allows you to access a portion of your home equity without selling or giving up ownership. You can continue to live in your home as long as you wish, provided you meet the terms of the agreement (such as maintaining the property and paying property taxes and insurance).

Yes. You may repay part or all of the loan at any time, although certain terms or fees, such as a prepayment charge, may apply depending on your agreement. A HomeEquity Bank advisor can review available options with you.