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Equitable's reverse mortgage is a simple way to turn a portion of your hard-earned home equity into tax-free cash— with no monthly payments required. Designed for Canadian homeowners 55+. With Equitable Bank, homeowners aged 55+ can borrow more—up to 59% of their home's value. View eligibility. Retain ownership of the home you love.
See how Equitable Bank’s reverse mortgage rates, advance options, and fees stack up next to the competition. Learn about our interest rates and prepayments.
A reverse mortgage allows Canadian homeowners aged 55+ to unlock a portion of the equity they’ve built in their homes and turn it into tax-free cash—all while staying in the home they love.
An Equitable Bank Reverse Mortgage is designed to provide financial flexibility to homeowners aged 55 and older. To be eligible, you must own your home and have significant equity built up in it. Once approved, you can access up to 55% of your home's appraised value.
Sep 8, 2021 · Qualifying for a reverse mortgage. At both Equitable Bank and HEB, eligible borrowers must be at least age 55, and the property must be a principal residence (owner-occupied at least six...
HomeEquity Bank is the incumbent in Canada’s reverse mortgage market with more than 30 years of experience. Equitable Bank is the newcomer. It first began offering reverse mortgages in early 2018. HomeEquity Bank vs. Equitable Bank. Here’s a quick side-by-side comparison of some key differences between the two:
Dec 21, 2023 · The two main providers of reverse mortgages in Canada are HomeEquity Bank (known for the CHIP Reverse Mortgage that is available across Canada) and Equitable Bank, which offers a...
What Is a Reverse Mortgage? How Reverse Mortgages Work. Where Can I Get a Reverse Mortgage? Reverse Mortgage Pros. Reverse Mortgage Cons. Should You Get a Reverse Mortgage? Show more....
Jan 12, 2024 · Equitable Bank offers residential and commercial mortgages via mortgage brokers; it’s known for being one of two banks to offer reverse mortgages in Canada. Equitable Bank mortgage...
lenders’ discretion at any time. Reverse Mortgage: A reverse mortgage (also called an equity release) is a non-amortizing loan that allows you to convert the equity in your property int. cash while remaining in your home. You may take the amount you are eligible for upfront as a one-time advance or as planned advances (single .
