INCOME ADVANTAGE
Are you enjoying life? Would having just a bit of additional cash each month make everything better? A reverse annuity loan may be the solution by providing you with cash by utilizing the equity in your home. The Income Advantage product offered by Home Equity Bank is a reverse annuity loan and follows much the same policies that the standard CHIP Product, with the total eligible loan amount determined by the same calculation. See www.reversemortgagesinbc.com/reversemortgage
The main difference is that instead of receiving the entire loan amount in a lump sum at the beginning you will receive a pre-determined amount each month or quarter that can be modified at any time. This extra income can sometimes make the difference between struggling each month or enjoying the life you deserve.
You have likely experienced a substantial increase in your home’s value and now is the time to let that home give back to you the equity you have worked hard to build over the years. The convenience of automatic deposits into your bank account monthly or quarterly with a predetermined amount.
This is the perfect solution for those of us who just need a little extra income for whatever reason. It can be used to:
- Supplement the monthly household budget
- Improve lifestyle
- Take regular vacations
- Hire someone to assist with home maintenance
- Pay for in home health care
- Preserve your investment portfolio
These amounts are not considered as income for tax purposes and will not included on your annual income tax return. This is your money that you are enjoying now to make your life better.
The advantages of Income Advantage:
- No payments required
- Flexibility
- Interest is calculated only on the amount borrowed
You will kick start your Income Advantage loan with a minimum lump sum initial advance of $20,000. You then decide how much you would like to have deposited into your account on a monthly or quarterly basis. The minimum monthly amount is $1000 and minimum quarterly amount is $3000. Once you decide on an amount please know that it can be increased or decreased at your discretion.
CONTACT ME ANYTIME! nicolle@fitrightmortgage.com 250-644-4002