Compare All Four Canadian
Reverse Mortgage Lenders
There are only four reverse mortgage lenders in Canada. This page helps you compare all four side by side, understand the trade-offs, and see which one best fits your goals, timeline, and property.
We make these lenders compete for your business.
Why the best-known lender
isn't always the best fit
No single lender is best for everyone. The right choice depends on your goals, property, location, and timeline.
CHIP is the best-known lender, but it is not always the best fit. Depending on your goals, another lender may offer better long-term value, lower fees, or more flexibility.The CHIP reverse mortgage is the best-known name in the market, and sometimes it is the right fit, especially for rural properties, open-term needs, or multi-property setups. But in other cases, another lender may offer better long-term value, lower fees, or more flexibility.
Did you know?
CHIP Reverse Mortgage is the only reverse mortgage lender that charges existing clients a rate premium upon renewal.
Before comparing lenders, it helps to see the numbers for your own home. Start with a quick estimate of what you could borrow, then we compare all four lenders for free and build your personalized comparison.
What you get:
A comparison built around youA comparison built around you
After a discovery call, we prepare a personalized 4-lender comparison built around your goals, property, and timeline — and send it within 1 business day.After your discovery call, we prepare a personalized 4-lender comparison built around your goals, property, and timeline, ready within 1 business day. It shows how each lender stacks up on loan amount, pricing, fees, contract structure, flexibility, and long-term fit, so you can see the trade-offs clearly before making a decision.
Sample Lender Comparison
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Your personalized comparison, ready within 1 business day of your discovery call
All 4 reverse mortgage lenders in Canada compared side by side
You see the trade-offs clearly. We handle the legwork.
Meet Canada's four reverse mortgage lenders
Canada's reverse mortgage market is small, but the differences between lenders can still be meaningful. Rates, loan amounts, renewal pricing, minimum terms, property treatment, and flexibility can all vary from one lender to another.
CHIP is the most recognized name in Canadian reverse mortgages. It has a long operating history, broad availability, and a few unique features that can make it the right fit in specific situations.
- Remote or rural locations where other lenders may be less competitive or unavailable
- Multi-property reverse mortgages, with up to 3 properties in total
- Situations where a second mortgage behind the reverse mortgage is needed
- Short-term solutions, since CHIP is the only lender offering an open term
- Often less competitive as a long-term solution, because existing clients face a rate premium after the first 5-year term
- Condos and townhomes can be treated more conservatively on loan amount than with some other lenders
CHIP absolutely has situations where it wins. But the biggest name is not automatically the best fit once the full structure is compared.
Equitable Bank is a large Schedule I bank that often competes aggressively on pricing and loan amounts in the right markets. It is frequently one of the strongest options when the property and location fit its lending model well. For borrowers age 70 and over, Equitable Bank is also one of two lenders that may advance up to 59% of the home's value, while others may cap out closer to 55%.
- Metropolitan areas
- Borrowers prioritizing very competitive rates
- Borrowers age 70 and over who want to maximize their advance
- Files where strong loan amount and pricing need to work together
- Outside major metropolitan areas, it can be less competitive on loan value than other lenders at similar rates
Equitable can be an excellent option, but its strength tends to show most clearly in urban markets.
Bloom is Canada's digital-first reverse mortgage lender, with a strong reputation for service, speed, and customer experience. It often performs well on loan amount in both urban and more remote areas, while also offering some of the market's most innovative product features. It can be especially compelling for borrowers who plan to access funds gradually over time, thanks to its competitive future advance pricing.
- Borrowers who value strong customer service and a more modern client experience
- Urban and more remote areas where loan amounts can still be competitive
- Borrowers who plan to draw funds gradually over time, thanks to Bloom's competitive future advance pricing
- Borrowers who want long-term rate stability through SafeRate - Canada's only fixed lifetime rate
- Homeowners who may want to downsize later and port their mortgage and rate to a new property
- Borrowers who prefer more control over how they access funds, instead of taking a large lump sum upfront
- Bloom is not ideal for short-term solutions because it is the only lender with a minimum term of 10 years
- Condos and townhomes can be treated more conservatively on loan amount than with some other lenders
Bloom stands out for service and innovation, but its structure makes the most sense when the plan is longer term.
Home Trust is a federally regulated trust company with deep lending experience and strong competitiveness on both rates and loan amounts. It can be especially compelling in cases where other lenders are less flexible on geography or property profile. For borrowers age 70 and over, Home Trust is also one of two lenders that may advance up to 59% of the home's value, while others may cap out closer to 55%.
- Borrowers seeking strong loan amounts in both metropolitan and rural areas
- Homeowners prioritizing highly competitive rates
- Borrowers over 70 who want to maximize their advance
- Straightforward "set it and forget it" reverse mortgage setups
- The organization can feel more traditional and process-heavy than some competitors
- Borrowers who expect frequent servicing requests, recurring advances, or regular account changes may encounter more delays or bureaucracy than with other lenders
Home Trust can be very strong on the fundamentals, especially pricing and loan value, but it may be less appealing if ongoing servicing flexibility is a major priority.
The key takeaway
Each lender has real strengths. Each also has trade-offs that may or may not matter depending on your property, location, timeline, and goals. That's why we don't recommend a reverse mortgage lender based on brand name or headline rate alone — we compare the full picture so you can make the right choice with confidence.
Why work with us instead of going direct
A direct reverse mortgage lender can only offer its own product. We compare all four Canadian reverse mortgage lenders, explain the trade-offs clearly, and help you choose the option that best fits your goals.
What you get by working with us:
Access to all four lenders — not just one bank's option
A true apples-to-apples comparison of rates, fees, terms, and flexibility
Unbiased guidance at no cost to you
Broker-channel leverage that can unlock better pricing, exceptions, or added flexibility
More choice. Less guesswork. No cost to you.
Further Reading
If you want to see what makes a good broker such a valuable asset, read our guide on how to choose a reverse mortgage broker in Canada.
Common Questions About Canadian Reverse Mortgages Lenders
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