Reverse Mortgages in London
City-level context for London homeowners exploring reverse mortgages in Ontario.
Lender availability in London
Available providers: CHIP,Equitable Bank,Bloom Finance,Home Trust,Fraction.
Four reverse mortgages plus Fraction as an alternative: CHIP, Equitable Bank, Bloom Finance, Home Trust, Fraction. Equitable Bank and Fraction are urban-only.
Typical home-value context: Often $500,000-$750,000 for typical owner-occupied homes.
CHIP in London
CHIP (HomeEquity Bank) is the reverse mortgage available in all 10 provinces and the one that routinely considers rural properties.
- Ontario has four reverse mortgages plus Fraction.
- CHIP is the product that still considers properties outside the urban core.
- CHIP (HomeEquity Bank) is available in all 10 provinces and routinely considers rural properties.
City-specific planning notes
- Southwestern Ontario borrowers benefit from multi-lender competition in London.
- Detached homes in mature neighbourhoods are common reverse mortgage candidates.
- Rural properties outside London may still qualify through CHIP where others decline.
Estimate for your situation
London homeowners can pressure-test draw amounts before comparing lender fees and rates.
Stay in your home.
Compare CHIP, Equitable, Bloom, Home Trust, and Fraction with a licensed broker. No fee to use this site.