Smaller provinces and the territories
A hub for the Canadian reverse mortgage map outside Ontario, British Columbia, Alberta, and Quebec. Open the dedicated guide for your province or territory — this page explains the pattern those pages share.
Outside Ontario, BC, Alberta, and Quebec, reverse mortgage choice is a thinner map: Nova Scotia has two lenders, five provinces have CHIP only, and the territories have none. Dedicated pages now cover Nova Scotia, Manitoba, Saskatchewan, New Brunswick, Prince Edward Island, Newfoundland and Labrador, and the territories. Use this hub to see how those markets cluster, then follow the dedicated URL for local products, regulators, and cities.
Dedicated guides from this hub
Ontario, British Columbia, Alberta, and Quebec are not listed here — they have the full or near-full lender set and their own province pages from the province guide. Everything else in Canada sits in one of the three rows below.
| Place | Reverse mortgage lenders | Dedicated guide |
|---|---|---|
| Nova Scotia | CHIP and Home Trust | Nova Scotia guide |
| Manitoba | CHIP only | Manitoba guide |
| Saskatchewan | CHIP only | Saskatchewan guide |
| New Brunswick | CHIP only | New Brunswick guide |
| Prince Edward Island | CHIP only | Prince Edward Island guide |
| Newfoundland and Labrador | CHIP only | Newfoundland and Labrador guide |
| Yukon, Northwest Territories, and Nunavut | No reverse mortgage lender | Yukon, Northwest Territories, and Nunavut guide |
How these markets cluster
Newer reverse mortgage lenders concentrated on Ontario, British Columbia, and Alberta, where home values, appraisal density, and file volume support competition. HomeEquity Bank (CHIP) is the exception: it has served all 10 provinces since the mid-1980s, which is why Manitoba, Saskatchewan, New Brunswick, Prince Edward Island, and Newfoundland and Labrador still have a reverse mortgage option at all.
Nova Scotia left that one-lender group in October 2025 when Home Trust EquityAccess launched there. Home Trust is broker-exclusive, so the only way to compare CHIP and Home Trust on an NS file is to work with a licensed broker. Quebec is also a two-lender province (CHIP and Equitable Bank) but is not part of this hub — see the Quebec guide.
The territories are a third cluster: no Canadian reverse mortgage lender currently operates in Yukon, the Northwest Territories, or Nunavut. That is a market-size and appraisal-data limit, not a provincial eligibility rule you can work around. Territory homeowners who need equity usually look at a HELOC, sale, or other alternative instead.
What a broker still does in a CHIP-only province
One lender does not mean one product. CHIP's lineup (standard, CHIP Max, CHIP Open, Income Advantage) differs on LTV, minimum home value, advance structure, and term. A broker who knows that lineup can still choose the right CHIP product, flag when a rural or lower-value home will miss the floor, and say honestly when a reverse mortgage is the wrong tool.
Broker compensation is paid by the lender. There is no extra fee to the homeowner for using a broker in a one-lender province. The same is true in Nova Scotia, where the broker is also the only path to Home Trust.
The $200,000 floor and rural files
CHIP's standard minimum home value is $200,000 ($300,000 for CHIP Max and CHIP Open). That floor shows up often in Atlantic Canada and in smaller Prairie markets: many otherwise eligible homeowners never reach a reverse mortgage because the property appraises below the minimum. Dedicated pages cover the local version of that problem. If the home is under the floor, start with alternatives and eligibility rather than forcing a CHIP application.
Related resources
- CHIP Reverse Mortgage — the lender that covers all 10 provinces, and the only reverse mortgage in MB, SK, NB, PEI, and NL
- Home Trust EquityAccess — the second NS lender since October 2025
- Reverse mortgage estimate calculator
- Eligibility requirements — age, property, and province basics
- Step-by-step application process
- Alternatives guide — including options when no reverse mortgage lender operates where you live
Estimate your smaller-province scenarios reverse mortgage
Estimate a range here, then confirm lender availability and minimum-value rules on the dedicated province or territory page.
Smaller-province questions
Which smaller provinces have more than one reverse mortgage lender?
Only Nova Scotia. Since October 2025, Nova Scotia has been served by two reverse mortgage lenders — HomeEquity Bank (CHIP) and Home Trust (EquityAccess). Manitoba, Saskatchewan, New Brunswick, Prince Edward Island, and Newfoundland and Labrador are each served by CHIP only. The territories have no reverse mortgage lender.
Do I still need a broker in a one-lender province?
Yes. A broker helps you choose between CHIP's four products (standard, CHIP Max, CHIP Open, Income Advantage), manages timelines that can stretch in smaller markets, and assesses whether a reverse mortgage or an alternative like a HELOC or property tax deferral program is the better fit. Broker compensation is paid by the lender at no cost to you.
Are reverse mortgages available in Yukon, NWT, or Nunavut?
No. No Canadian reverse mortgage lender currently operates in the territories. That is a market and appraisal-data limit, not something a broker can override. Territory homeowners looking at equity usually start with alternatives such as a HELOC or a sale, and should read the dedicated territories guide.
Should I use this hub or the dedicated province page?
Use the dedicated page once you know the province or territory — that is where local products, regulators, and city notes live. Use this hub when you are comparing CHIP-only markets, Nova Scotia's two-lender change, and the territories as a group.
Open the dedicated guide.
If you know the province, use its page. If you are comparing CHIP-only markets or the territories, book a call and we will tell you whether a reverse mortgage is even on the table.