Question 1

Is CHIP Reverse Mortgage available in London?

Accepted Answer

Yes — CHIP Reverse Mortgage is available to eligible homeowners throughout London and the Southwestern Ontario area. We serve London clients by phone and video call across Ontario.

Question 2

How much can London homeowners access through CHIP Reverse Mortgage?

Accepted Answer

Eligible amounts depend on your age, property value, and lender guidelines. Reverse mortgage borrowers may access up to 55% of their home's appraised value — though the actual percentage varies significantly by age (younger borrowers typically access a lower share). Given London's property market, eligible amounts are often substantial. A consultation will provide preliminary figures for your specific property.

Question 3

Do I need to visit an office to apply for CHIP Reverse Mortgage in London?

Accepted Answer

No — the process can be handled virtually. We conduct consultations by phone or video, and most documentation is handled digitally. Where a property appraisal is required, it will be arranged as part of the application process.

Question 4

What is the CHIP Reverse Mortgage?

Accepted Answer

CHIP stands for Canadian Home Income Plan. It is a long-term financing solution offered by HomeEquity Bank — a federally regulated Canadian bank — that may allow qualifying homeowners to access up to 55% of their home's appraised value as tax-free cash, depending on their borrower profile. No required monthly payments. Borrowers retain ownership and title of the home.

Question 5

What is CHIP Max?

Accepted Answer

CHIP Max is a HomeEquity Bank product designed for eligible borrowers who may qualify for a higher loan-to-value ratio than the standard CHIP product. Eligibility criteria and available amounts depend on your age, property, and location — a consultation will confirm whether CHIP Max applies to your situation.

CHIP Reverse Mortgage in London, Ontario

CHIP Reverse Mortgage in London — Local Context

About CHIP Reverse Mortgage

Benefits for London Homeowners

CHIP Reverse Mortgage in London — FAQs

Get CHIP Reverse Mortgage in London

More Services in London

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