Best Reverse Mortgage Companies in Canada: Ontario Broker Explains All Four

“Before you sign with any reverse mortgage company, find out which of Canada’s four offers you the best deal. The best-known lender isn’t always the best value for you. Pick one by name alone, and you could pay more for years,” said Richard Hopkins, Mortgage Broker, licence M16000896.

HAMILTON, Ontario – October 28, 2026 – Which are the best reverse mortgage companies in Canada? A free guide from Richard Hopkins, a licensed reverse mortgage broker with Dominion Lending Centres Homestead Financial, answers the question for homeowners aged 55 and over.

Canada had one reverse mortgage lender until 2018. It now has four: HomeEquity Bank, known for its CHIP reverse mortgage, Equitable Bank, Bloom, and Home Trust, which launched its EquityAccess reverse mortgage in October 2025. All four are government regulated. The big banks, including RBC, TD, Scotiabank, BMO and CIBC, do not offer reverse mortgages.

The guide shows what each lender wins on:

• Lowest posted rate. Equitable Bank and Home Trust’s entry tier have posted the lowest base five-year rates this fall.
• Most money at 70 and over. Home Trust advertises the highest share of a home’s value for older borrowers, at a higher rate.
• A rate that never resets. Bloom is the only lender in Canada with a lifetime fixed rate.
• Size and reach. HomeEquity Bank, through CHIP, is the oldest and largest, and lends in more rural areas than the others.

The guide also explains why no single company is best for everyone. Each lender treats a couple’s ages, the home and its location differently. Set-up fees include different things. Early repayment charges differ in kind, not just size. Two of the four products are effectively available only through a broker: Home Trust’s, and CHIP Max, HomeEquity Bank’s highest-lending tier.

Every Canadian reverse mortgage lets a homeowner stay on title and keep ownership, with no required monthly mortgage payments. You can never owe more than your home is worth when the mortgage comes due, as long as the terms are kept. It’s typically called the no negative equity guarantee, and all four lenders offer it. Every lender requires independent legal advice from the homeowner’s own lawyer before closing.

A broker is paid by the lender the homeowner chooses, after the mortgage funds. The homeowner pays the broker nothing. Appraisal and legal costs still apply.

The guide, “Best Reverse Mortgage Companies & Lenders in Canada (2026)”, is free to read, with no sign-up, at: https://reversemortgagebroker.ca/best-reverse-mortgage-companies-canada/?utm_source=abnewswire&utm_medium=press_release&utm_campaign=pr-best-companies-2026-10

About Dominion Lending Centres Homestead Financial

Dominion Lending Centres Homestead Financial is an independent mortgage brokerage in Ontario, licensed by the Financial Services Regulatory Authority of Ontario (brokerage licence #11711) and trusted by more than 1,200 Ontario homeowners since 2009. Independently Owned and Operated. Richard Hopkins, Mortgage Broker (licence M16000896), specializes in reverse mortgages and compares every reverse mortgage lender in Canada for homeowners across Ontario.

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Company Name: Homestead Financial
Contact Person: Richard Hopkins
Email: Send Email
Phone: 905-690-6068
Address:26 Glaceport Ave
City: Dundas
State: Ontario
Country: Canada
Website: https://reversemortgagebroker.ca/best-reverse-mortgage-companies-canada/?utm_source=abnewswire&utm_medium=press_release&utm_campaign=pr-best-companies-2026-10