HomeEquity Bank

HomeEquity Bank (French: Banque HomeEquity) 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 and is owned by private equity firm Birch Hill Equity Partners.HomeEquity Bank originated $767 million in reverse mortgages in 2018, up 26% from the previous year. In addition to the CHIP Reverse Mortgage, HomeEquity Bank also offers the Income Advantage loan, CHIPMax, and GICs.