Reverse Mortgages
Private lending options for Albertans who need fast & flexible solutions.
Fast Decisions — Flexible Documentation — Discreet & Compassionate
Why Now Mortgage?
Alberta-based expertise and local private lender network
Fast approvals & closings — often days, not weeks
Customized terms based on your separation agreement
Clear exit strategy to return to traditional financing
Confidential handling of sensitive information
Common Situations We Help With
Supplementing Retirement Income When Savings Are Tight
Paying Off Existing Debt or High-Interest Loans
Covering Large or Unexpected Expenses
Financing Home Renovations or Accessibility Upgrades
Staying in the Home Longer Instead of Downsizing
Managing Reduced or Irregular Retirement Income
Bridge Funding While Waiting on the Sale of Investments or Assets
What is a CHIP Reverse Mortgage?
The CHIP Reverse Mortgage allows Canadian homeowners age 55+ to access up to 55% of their home’s value and turn it into tax-free cash without having to move or sell and no monthly mortgage payments required!
Our convenient, secure (and now contactless!) process means you can complete the entire application from the comfort of your own home from application through to electronic signature!
Why get a CHIP Reverse Mortgage?
The value of your home has grown over the years and makes up a good portion of your net worth. The CHIP Reverse Mortgage allows you to turn some of your home equity into tax-free cash. You can access up to 55% of its value. The amount that you can access is based on several factors such as; your age, property location, home type and appraised home value.
A Difficult Situation
After decades in their family home, Joan and Michael were struggling with rising expenses, medical costs, and a home that needed repairs. Their bank wouldn’t approve a refinance because their retirement income wasn’t high enough, and selling wasn’t an option they wanted to consider.
NOW Mortgage helped them access a CHIP Reverse Mortgage, allowing them to unlock some of their home’s equity with no monthly payments required. They repaired the roof, covered medical bills, and created a financial buffer — all while staying in the home they love.