~6.39% (special rate)
Headline 5-year · $1,795–$2,995 setup
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CHIP Reverse Mortgage
~6.39% (special rate)
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CHIP Max
Contact for rate
-
CHIP Open
Contact for rate
-
Income Advantage
7.29%
Reverse Mortgage Rates Canada — September 2026
Published rates from four reverse mortgage lenders plus Fraction, as of September 2026. Then use the reverse mortgage calculator Canada (no personal info).
Reverse mortgage rates in Canada in 2026 typically range from about 6.23% (Equitable Flex Lite and Home Trust EquityAccess) to about 7.71% on select Home Trust Boost products; CHIP’s published 5-year fixed special rate is about 6.39% in eligible locations. Rates are higher than conventional mortgages because lenders receive no monthly payments and carry compounding and no-negative-equity risk. Next: run the reverse mortgage calculator Canada tool (no personal info).
6.28%
Headline 5-year · $995 setup
-
Flex
6.28%
-
Flex PLUS
7.43%
-
Flex Lite
6.23%
6.59%
Headline 5-year · ~$2,300 (processing + appraisal + ILA certificate) setup
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Bloom Reverse Mortgage
6.59%
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Bloom SafeRate™
6.69% (lifetime)
-
Bloom Prepaid Mastercard
Contact for rate
6.23%–6.47%
Headline 5-year · $995 setup
-
EquityAccess
6.23%–6.47%
-
EquityAccess+
6.29%–6.53%
-
EquityAccess Boost
7.44%–7.71%
from 5.10%
Headline 5-year · 1% (Interest Only / Jumbo) or 2% (No Payment) setup
-
Fraction Interest Only
from 5.10%
-
Fraction Jumbo
from 5.60%
-
Fraction No Payment
from 5.75%
Published 5-year figures are planning snapshots, not live quotes. Actual rate depends on province, LTV, age, and product. Sample rates — book a call for a real quote.
CHIP vs Equitable vs Bloom
Urban borrowers in Ontario, BC, Alberta, and Quebec often compare CHIP and Equitable Bank first. Bloom's SafeRate™ locks a lifetime fixed rate (currently ~6.69%) — unique in Canada. See CHIP vs Equitable for product differences.
Published rates are starting points. Use the estimator and cost estimator, then closing costs.
Frequently Asked Questions
What are reverse mortgage rates in Canada in 2026?
As of September 2026, five-year fixed reverse mortgage rates in Canada range from approximately 6.23% (Equitable Bank Flex Lite and Home Trust EquityAccess) to about 7.71% on select Home Trust Boost products. CHIP's 5-year fixed special rate is about 6.39% in eligible locations. Equitable Bank also posted a limited-time 4.99% 1-year fixed on new Flex and Flex Lite applications through September 30, 2026.
Which Canadian reverse mortgage lender has the lowest rate?
Equitable Bank Flex Lite and Home Trust EquityAccess both publish 5-year fixed rates near 6.23%, but they are broker-exclusive and limited to urban ON, BC, AB, and QC (Home Trust also serves NS). Actual rates depend on home value, LTV, and underwriting.
What are CHIP reverse mortgage rates?
CHIP's standard 5-year fixed special rate is approximately 6.39% in eligible locations. CHIP Max, CHIP Open, and Income Advantage carry different rate bands — see the full CHIP lender guide for product-level detail.
Do reverse mortgage rates change every month?
Lenders adjust reverse mortgage rates periodically based on funding costs and market conditions. This page is refreshed when lender rate sheets change — check the 'rates last updated' date above and compare using the loan estimator before applying.
What is the current interest rate for reverse mortgages in Canada?
As of September 2026, published five-year fixed reverse mortgage rates generally fall between about 6.23% and 7.71% depending on lender and product. Equitable Bank Flex Lite and Home Trust EquityAccess tie for the lowest published entry rate near 6.23%; CHIP special rates are about 6.39% in eligible locations. Always confirm the rate on your formal offer letter.
Are reverse mortgage rates higher than regular mortgage rates in Canada?
Yes. Reverse mortgage rates are typically higher than conventional 5-year fixed mortgages because there are no required monthly payments, interest may compound, and lenders provide a no-negative-equity guarantee. Compare total cost — not rate alone — using the cost estimator and equity projection tools.
Want your actual rate?
Published rates are starting points. Book a free call to compare actual offers from four reverse mortgage lenders plus Fraction for your home and province.