Reverse Mortgage Loan Estimator

Understanding Your Loan Estimate

The amounts shown are estimates based on age-based LTV tables used by Canadian reverse mortgage lenders. Your actual loan amount will depend on a formal property appraisal, your specific age, property type, and the lender's underwriting assessment.

Why estimates vary by lender

Each lender uses a different LTV (loan-to-value) schedule. CHIP's flagship product allows up to 55% LTV with the flexibility of rural and remote properties. Equitable Bank's Flex Lite offers the lowest rate (6.44%) but caps LTV at 40%. Home Trust and Equitable Bank are tied for the lowest setup fee at $995. Bloom's lifetime fixed-rate eliminates renewal risk across the life of the loan.

How to use this estimate

Use this tool as a starting point for your conversations with a licensed mortgage broker. A broker can submit applications to all four regulated lenders — CHIP, Equitable Bank, Bloom Finance, and Home Trust — and present you with actual offer letters to compare.

Next steps

Not sure if you qualify? Review the eligibility requirements — you may be surprised at how straightforward they are. Want to understand the mechanics behind these numbers? Read how reverse mortgages work. Ready to move forward? Follow our step-by-step application guide to see what happens after you get your estimate.