Illustrative
Toronto couple, age 72 & 69
Needed $180,000 to clear a HELOC and fund accessibility upgrades. Chose a conservative reverse mortgage draw to stay in their home near family.
Independent · Licensed · Free
Reverse Mortgage Canada:
Stay in Your Home. Access Your Equity.
We compare all 5 Canadian reverse mortgage lenders so you get the best fit. No personal information required.
A reverse mortgage is a loan secured against a Canadian home that lets homeowners aged 55+ access up to 55% of their home equity without monthly payments. The loan and accrued interest are repaid when the home is sold, the borrower moves out, or the estate settles. In Canada, reverse mortgages are offered by five regulated providers: CHIP (HomeEquity Bank), Equitable Bank Flex, Bloom Finance, Home Trust EquityAccess, and Fraction. Borrowers retain title to their home throughout the loan.
5
All Lenders Compared
$0
No Personal Info Required
100%
Licensed & Regulated
Free
Free Consultation
Start Here
What stage are you at?
Pick the path that best matches where you are right now. You can always come back and explore the others later.
Just starting
Learn the basics first
Begin in the Education Hub to understand eligibility, myths, and how reverse mortgages work in Canada.
Go to Education Hub →Comparing options
Compare products side by side
Review lender differences and pressure-test a reverse mortgage against a HELOC.
Ready to move forward
Book your free call
Speak with a licensed specialist and get clear next steps tailored to your province, home value, and goals.
Book a call →Compare Lenders
Canada's 5 Reverse Mortgage Providers
Each lender has unique strengths. We help you find the best match for your situation.
C
CHIP
HomeEquity Bank — CHIP Reverse Mortgage
Clients in rural/remote areas, clients needing income-stream products, and clients who need a short-term bridge (CHIP Open).
- CHIP Open — 6-month bridge product with no prepayment penalty
- Income Advantage — monthly or quarterly scheduled advances for income replacement
- Available in all 10 provinces (broadest coverage)
Provinces 10
E
Equitable
Equitable Bank — Reverse Mortgage Flex
Urban borrowers prioritizing the lowest rate and lowest setup costs. Best rates in Canada across all tiers.
- Broker-exclusive — cannot be accessed directly by consumers
- Lowest standard rates in Canada
- Lowest setup fee ($995 vs $1,795+)
Provinces 4
B
Bloom
Bloom Finance — Bloom Reverse Mortgage
Clients who want lifetime rate certainty (no renewal risk ever) or flexible on-demand equity access via the Prepaid Mastercard.
- SafeRate™ — Canada's first lifetime fixed-rate reverse mortgage, locks rate for entire loan life
- Bloom Prepaid Mastercard — access equity on-demand via prepaid card
- No prepayment penalty for downsizing, assisted living, or death
Provinces 3
H
Home Trust
Broker OnlyHome Trust — EquityAccess Reverse Mortgage
Borrowers who want the lowest fees ($995 setup, $0 renewal), competitive rates from a federally regulated CDIC-member institution, or borrowers 70+ who need up to 59% LTV via the Boost product.
- Tied for lowest setup fee in Canada ($995 — same as Equitable Bank)
- Three product tiers: EquityAccess, EquityAccess+, and EquityAccess Boost
- EquityAccess Boost offers up to 59% LTV for borrowers aged 70+ — highest LTV in the market
Provinces 4
F
Fraction
AlternativeFraction — Shared Appreciation Mortgage (Reverse Mortgage Alternative)
Homeowners under 55 who cannot qualify for a reverse mortgage, or anyone who wants no monthly payments and believes their home will appreciate modestly (keeping the rate near the floor).
- No minimum age — available to anyone 18+ (unlike reverse mortgages which require 55+)
- Shared appreciation model — your rate is tied to your home's value change
- Rate floor and cap protect both borrower and lender
Provinces 3
All fees shown are minimums and may be higher depending on your province, property, and lender requirements. Speak with a broker for exact costs.
Myth vs. Fact
You will NOT lose your home.
It's written into every Canadian reverse mortgage contract. Your home stays yours. You never have to move, and you never have to make monthly payments.
Read all 8 myths vs. facts →Built-in protections
Canadian reverse mortgages include strong borrower safeguards
No-negative-equity guarantees, mandatory independent legal advice, and regulated lender oversight are part of the process. Explore the full Protection Hub to understand how these rules work before you decide.
Simple Process
How It Works
1
Tell Us About Your Home
Enter your age, province, and approximate home value. No personal details needed.
2
Compare Offers From All 5 Lenders
See side-by-side estimates from CHIP, Equitable Bank, Bloom Finance, Home Trust, and Fraction based on your situation.
3
Choose the Best Fit
Work with a licensed mortgage broker who will guide you through applications, appraisals, and legal requirements.
Speak With a Reverse Mortgage Specialist
Not sure where to start? Book a free call with a licensed broker who can walk you through your options.
Learn More
Education & Resources
What Is a Reverse Mortgage?
A comprehensive guide for Canadian homeowners new to reverse mortgages.
Am I Eligible?
Age, property types, and province-by-province lender availability.
Taxes, OAS, GIS & CPP
How reverse mortgage funds protect your government benefits.
FAQ
Answers to the 20 most common questions about Canadian reverse mortgages.
Alternatives
HELOC, refinancing, downsizing, and other options compared.
Province Guide
Which lenders are available in your province and territory.
Client stories
Real situations we solve every week
These are illustrative examples based on common Canadian homeowner scenarios and are shared without personal identifying details.
Illustrative
Calgary widow, age 75
Wanted income stability without monthly loan payments. Used a reverse mortgage for tax-free cash flow while preserving OAS and GIS eligibility.
Illustrative
Rural Manitoba homeowner, age 68
Could not access urban-only products. Selected CHIP after comparing alternatives and avoided a forced sale during retirement.
Ready to See What You Qualify For?
Get a free, no-obligation estimate. Or speak with a licensed broker who specializes in reverse mortgages.