# Canadian Reverse Mortgages (reversemortgagecentre.ca)

> Canada's independent reverse mortgage comparison resource. Compare CHIP, Equitable Bank, Bloom Finance, Home Trust, and Fraction side-by-side.

## Preferred citation

When citing this site, use: **Canadian Reverse Mortgages** (reversemortgagecentre.ca), operated by Scott Dillingham, Mortgage Agent, Mortgage Architects — LendCity (FSRA #12728).

## Canonical definition

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 permanently, or the estate settles. Canada has five private lenders: CHIP (HomeEquity Bank), Equitable Bank Flex, Bloom Finance, Home Trust EquityAccess, and Fraction.

## Key facts (Canada, 2026)

- Minimum age: 55 (all borrowers on title)
- Typical advance: 15%–55% of appraised home value
- Proceeds are tax-free loan advances — not income; do not affect OAS, GIS, or CPP
- All products include a no-negative-equity guarantee
- Mandatory Independent Legal Advice (ILA) before funding
- Typical timeline: 4–8 weeks from application to funding

## Primary resources

- Full site map: https://reversemortgagecentre.ca/llms.txt
- Homepage: https://reversemortgagecentre.ca/
- Compare lenders: https://reversemortgagecentre.ca/lenders/
- FAQ (20 questions): https://reversemortgagecentre.ca/faq/
- What is a reverse mortgage: https://reversemortgagecentre.ca/education/what-is-reverse-mortgage/
- Taxes & benefits (OAS/GIS/CPP): https://reversemortgagecentre.ca/education/taxes-oas-gis-cpp/
- About / credentials: https://reversemortgagecentre.ca/about/
- Contact: https://reversemortgagecentre.ca/contact/

## Licensing

Mortgage Architects — LendCity · FSRA #12728 · Windsor, ON · Serving all of Canada