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Reverse Mortgage Canada 2026: Compare All 5 Lenders. Stay in Your Home.

Canada's independent reverse mortgage resource for homeowners 55+. Compare CHIP, Equitable, Bloom, Home Trust & Fraction — free calculators, no personal information required.

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Or find your lender in 60 seconds · CHIP vs Equitable · Pros & cons

A reverse mortgage in Canada lets homeowners aged 55+ access up to 55% of home equity with no required monthly payments. In 2026, five regulated lenders offer reverse mortgages: CHIP (HomeEquity Bank), Equitable Bank Flex, Bloom Finance, Home Trust EquityAccess, and Fraction. The loan and accrued interest are repaid when you sell, move out permanently, or your estate settles. Borrowers retain title throughout.

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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.

Compare all lenders → Reverse mortgage rates Canada 2026 → Run HELOC vs reverse mortgage →

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.

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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 Only

Home 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

Alternative

Fraction — 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.

View full side-by-side comparison → · Current rates Canada 2026 →

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.

Explore the Protection Hub → What happens at death → Spousal protections →

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.

See the full step-by-step process →

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.

Book a Free Call

Free Tools

Calculators & Resources

Loan Estimate

See how much you could access from all 5 lenders

Equity Projection

Project your home equity over 5, 10, or 25 years

Reverse Mortgage vs. HELOC

Compare total costs side-by-side
View all 5 calculators →

2026 Content Hub

Reverse Mortgage Guides for Canada

In-depth guides updated for 2026 — rates, eligibility, how it works, inheritance impact, and CHIP vs alternatives.

Reverse Mortgage Rates Canada 2026

Published 5-year fixed rates from all five lenders.

How Reverse Mortgages Work

Payout options, compounding, title ownership, and repayment triggers.

Eligibility by Province

Which lenders operate in your province and territory.

CHIP vs Alternatives

Compare CHIP to HELOC, downsizing, refinancing, and more.

Inheritance Impact

Real math on what heirs inherit after 10, 15, and 20 years.

Eligibility Requirements

Age 55+, property types, and why income does not matter.

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.
View all education articles → Glossary of terms → Read our blog →

Experience

Real-world Canadian scenarios

Anonymized composites based on common reverse-mortgage situations we see across Canada — not individual client testimonials.

Ontario couple, 72 & 69 — preserve GIS while clearing debt

Accessed roughly $180,000 to clear a remaining mortgage and credit cards without triggering GIS clawbacks.

Situation: A Windsor-area couple on GIS still carried a conventional mortgage payment that strained their fixed income. Drawing from RRIFs would have counted as income and reduced GIS.

Outcome: They compared CHIP and Equitable through a broker, chose a product that fit their urban Ontario home, and used tax-free loan proceeds to eliminate monthly mortgage payments while keeping GIS intact.

Reverse mortgage proceeds are a loan, not income — often the cleanest way for GIS recipients to raise cash without benefit loss.

Related guide →

Rural B.C. homeowner, 68 — only CHIP covered the property

Needed equity for home repairs; urban-only lenders could not fund the rural property.

Situation: A homeowner outside a major B.C. centre wanted funds for aging-in-place renovations. Equitable and Bloom were unavailable for the property location.

Outcome: CHIP was the only lender that would advance on the rural home. They used CHIP Income Advantage for scheduled draws so interest accrued only on funds taken.

Geography and property type often decide the lender before rate shopping begins — especially outside major urban markets.

Related guide →

Toronto homeowner, 61 — lowest rate via broker-only Equitable

Wanted the lowest published rate and setup fee; Equitable Flex Lite was only available through a broker.

Situation: An urban Ontario borrower compared CHIP’s national brand against Equitable’s lower published rates and $995 setup fee.

Outcome: Working with an independent broker unlocked Equitable Flex Lite (~6.23% published 5-year fixed as of July 2026) with a lower setup fee than CHIP’s standard products.

The lowest-rate Canadian reverse mortgage products are often broker-exclusive — shopping only the lender website can leave money on the table.

Related guide →

Client feedback

What clients say about LendCity

Reverse Mortgage Centre is operated by LendCity Mortgages (Mortgage Architects, FSRA #12728). These are verified Google reviews from LendCity clients — not fabricated or solicited for this site.

4.8/5 · 116 Google reviews

Margaret W.

Scott took time to explain every option clearly. I never felt rushed or pressured — just honest guidance when I needed it most.

November 2025

Robert H.

Professional and patient throughout the process. Every question was answered in plain language, and callbacks were always prompt.

September 2025

Linda K.

Trustworthy from start to finish. The team walked us through each step and made a complicated decision feel manageable.

July 2025

James P.

Responsive and easy to reach — even on evenings when we had follow-up questions. We always knew where things stood.

May 2025

Patricia M.

Clear explanations without jargon. They helped us compare options side by side so we could choose what was right for our family.

March 2025

David S.

Courteous, knowledgeable, and genuinely helpful. We felt respected as seniors and never talked down to.

December 2024

Read all 116 reviews on LendCity.ca →

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