HomeEquity Bank launches HEB Advantage™, a new payment product expanding its leadership in home equity solutions for Canadians 55+

• Delivers approved funds in one lump sum, with monthly interest payments required on a portion of the loan for the first 10 years.
• Eligible borrowers may access up to 59 per cent of their home's value, subject to approval. The product offers fixed and variable rate terms.
• Expands HomeEquity Bank's Custom Solutions range to meet the evolving financial needs of Canadians 55 – 70.

EmitenTrust.com TORONTO, Oct. 15, 2026 /CNW/ -- HomeEquity Bank today announced the launch of new product, HEB Advantage™, a home equity loan that gives eligible Canadian homeowners aged 55 to 70 a new way to access the value in their homes.

For 40 years, HomeEquity Bank has led Canada's reverse mortgage market, pioneering financial solutions that help Canadians 55+ access the equity in their homes. As homeowners' needs evolve, the Bank continues to build on that expertise, expanding its product range to support different financial circumstances and long-term goals. HEB Advantage™ marks the next step in that commitment, giving eligible homeowners greater choice in how they put their home equity to work.

HEB Advantage™ combines features of a reverse mortgage and traditional home equity solutions. Borrowers receive their approved funds in a single lump sum and make monthly interest payments on a portion of the loan for the first 10 years. After that, monthly payments are no longer required, provided they meet the terms of the loan and mortgage. The new product joins the HEB's Custom Solutions suite of offerings, which is designed to support homeowners' broader financial goals and looking to access more funds with lower payments than a traditional HELOC.

"Canadians are telling us they want more choice in how they use the equity they have built in their homes," said Yousry Bissada, President and CEO of HomeEquity Bank. "Some are addressing an immediate financial need, while others are considering how their home can support longer-term financial, tax-efficient objectives. With HEB Advantage™, this broadens our ability to offer solutions that reflect those different priorities."

HEB Advantage™ further positions HomeEquity Bank as a growth partner to its broker network, expanding the solutions brokers can bring to their clients. Brokers play an integral role in educating and advising Canadians 55+, helping them make informed financial decisions as their needs evolve. This latest addition gives brokers another option to help eligible homeowners access home equity in a way that supports their financial goals.

"Our commitment to innovate comes from 40 years of market leadership and our deep understanding of the evolving needs of Canadians 55+," said Yvonne Ziomecki, the Bank's Chief Customer, Brand and Advice Officer. "As rising costs and economic uncertainty reshape how people plan for the future, HEB Advantage™ expands our range of solutions, giving homeowners greater choice and flexibility to put their home equity to work in support of their financial goals."

HEB Advantage™ will be available at the end of October 2026. To qualify, applicants must be aged 55 to 70, own a primary residence in Canada with a minimum appraised value of $250,000. Final eligibility and the amount available depend on factors including age, home value, property location, income, affordability and credit profile. An appraisal and independent legal advice are required.

About HomeEquity Bank
HomeEquity Bank is a Schedule 1 Canadian Bank offering a range of reverse mortgage solutions including the flagship CHIP Reverse Mortgage™ product. The company was founded in 1986 to address the financial needs of Canadians who wanted to access the equity of their top asset – their home. The Bank is committed to empowering Canadians aged 55 plus to live the retirement they deserve, in the home they love. HomeEquity Bank is a portfolio company of Ontario Teachers' Pension Plan Board, a global investor that delivers retirement income for 340,000 current and retired teachers in Ontario. For more information, visit www.chip.ca. 

SOURCE HomeEquity Bank