JAM Mortgages

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The Reverse Mortgage Process


Decide how much of your home equity you would like to access without scrutiny of your income, credit, or health.



Contact us to find out how much you qualify for. We will personally walk you through the entire process from start to finish.


Receive the money you need in one lump sum or multiple instalments. Spend the money however you like!



The full amount only becomes due when you and your spouse pass away, when your home is sold, or if you decide to move.

A reverse mortgage is a tool used by many 55+ homeowners that allows them to unlock equity out of their home without making any payments at all.

You can also pull money out of your home each month to supplement your income (tax free). It’s perfect for people who are conscious of their cashflow each month. 


Reverse mortgages from HomeEquity Bank can be used for tax savings and to access funds without the need to withdraw funds from your investment portfolios or pension funds. Similar to traditional mortgages, proceeds from a reverse mortgage are tax-free.

If you’re thinking of withdrawing from your investments, first consider some of the benefits of a reverse mortgage and contact JAM Mortgages today to find out your options.

Why use a certified reverse mortgage specialist?

The CHIP Home Income Plan, now called a CHIP Reverse Mortgage, was created by HomEquity Bank, a Schedule 1 Canadian Bank. It was founded 30 years ago as an annuity-based solution addressing the financial needs of Canadians who wanted to access the equity of their top asset – their home. For many years, in order to secure a CHIP Reverse Mortgage, Canadians were limited to dealing directly with a representative from CHIP. Unfortunately, this is a lot like dealing with a bank representative directly in that it failed to provide real choice and variety of mortgage products.

So, in order to increase customer service and make the CHIP Reverse Mortgage more accessible to Canadians, HomEquity bank invited a select group of well-established mortgage brokers to become “Reverse Mortgage Certified”.  We are included in this group and we’re proud to work with clients through the entire process of securing a reverse mortgage.

Learn More About
The Reverse Mortgage Process

Frequently Asked Questions

How does a reverse mortgage work?

A CHIP Reverse Mortgage is secured by the equity in your home. Unlike a traditional mortgage in which you make regular payments to someone else, a reverse mortgage pays you.

The big advantage with the CHIP Reverse Mortgage is that you do not have to make any regular mortgage payments for as long as you or your spouse lives in your home. That’s what has made reverse mortgages such a popular solution in Canada, the U.K., the U.S., Australia and other countries.

Who is it for?

The CHIP Reverse Mortgage is designed exclusively for homeowners age 55 and older. This age qualification applies to both you and your spouse.

How much can I get and how is it calculated?

You can receive up to 55% of the value of your home. The specific amount is based on your age and that of your spouse, the location and type of home you have, and your home’s current appraised value. You can contact me and I can quickly give you an estimate of how much you may be approved for. 

How do receive the money?

You can choose how you want to receive the money. The CHIP Reverse Mortgage gives you the option of receiving all the money you’re eligible for in one lump sum advance, or you can take some now and more later, or you can receive planned advances over a set period of time. Planned advances are available on the Income Advantage product.

Will the bank own the home?

No. The homeowner retains title and maintains ownership of the home. It’s required for the homeowner to live in the home, pay taxes on time, have property insurance, and maintain the property in good condition.

Should Reverse Mortgages only be considered as a loan of last resort?

No. Many financial professionals recommend a reverse mortgage to supplement monthly income instead of selling and downsizing, or taking out a conventional mortgage or a line of credit.

Will the homeowner owe more than the house is worth?

The homeowner keeps all the equity remaining in the home. In our many years of experience, over 99% of homeowners have money left over when their loan is repaid. The equity remaining depends on the amount borrowed, the value of the home, and the amount of time that’s passed since the reverse mortgage was taken out.

What if the homeowner has an existing mortgage?

Many of our clients use a reverse mortgage to pay off their existing mortgage and debts. 

What fees are associated with a Reverse Mortgage?

There are one time fees to arrange a reverse mortgage such as an appraisal fee, fee for independent legal advice as well as our fee for administration, title insurance, and registration. With the exception of the appraisal fee, these fees are paid for with the funding dollars.


Who received the right mortgage for them.

I had no idea where to start in looking for a house. A friend of mine who had just purchased a condo recommended I speak with Glenn, I’m so happy she did. I found Glenn to be personable, he took the time to explain the entire process to me and although we ran into a couple issues, he was able to get me financing and I’m so excited to be living on my own now!

I would recommend Glenn Issler to anyone who is intimidated by mortgages, he will walk you through everything!

N. Williamson

Working with Michael, you know that you will get excellent service provided by a person who is knowledgeable, passionate and determined to get the best possible deal for you. Greatly appreciated the effort and the process was made easy for me to understand.

Steven S.

Joe went out of his way to answer my questions, ensure the best rate and mortgage for me. A stressful bidding process and fast close date were made a lot easier with Joe’s help. Thank you again! Highly recommend.

Cheryl G.

I have been Alfredo’s client for 10+ years and I have always been impressed by his professionalism. He has gotten me approved for mortgages in a short time and with great rates.

Carlos O.

Let’s Get Started.

JAM Mortgages – a sweet and simple way to get into your own home.

Let’s Talk. You have questions, We can help!


550-2608 Granville Street,
Vancouver, BC V6H 3V3