HomEquity Bank Prime Rate: 3.45%
For Québec: click here to download HomEquity 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 HomEquity Bank.
||CLOSING AND ADMINISTRATIVE COSTS1
||ANNUAL PERCENTAGE RATE (APR)2
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 HomEquity Bank Prime Rate plus a fixed spread of 2.29%. The fixed spread is guaranteed for 5 years. For contract 21-30, the variable rate is 6.14%