Equitable Reverse Mortgages Mortgage Lender Profile
Generally for Homeowners aged 55 and older in Alberta, British Columbia, Ontario or Quebec who want equity without monthly payments.
Who they are
Equitable Reverse Mortgages is the reverse mortgage product line of Equitable Bank, a Schedule I federally regulated bank and the operating subsidiary of EQB Inc. Equitable entered the Canadian reverse mortgage market in 2018 and has since become the principal national competitor in a segment long dominated by a single incumbent. The bank has no retail branches, so reverse mortgages are arranged through licensed mortgage brokers and financial advisors rather than by applying to the bank yourself. Equitable states that the product is available to qualifying homeowners in Alberta, British Columbia, Ontario and Quebec.
What they lend on, and who for
The product is designed for Canadian homeowners aged 55 and older who want to convert home equity into tax-free funds without making regular principal and interest payments. The balance is repaid when the home is sold or when the last borrower leaves it, and you keep title and ownership throughout. Typical users are retirees who are asset-rich but income-constrained and want to supplement retirement income, retire other debt, fund home modifications or assist family. Eligibility criteria, qualifying property types and advance limits are set by Equitable and worth confirming before you proceed.
How to approach Equitable Reverse Mortgages
You can contact Equitable Reverse Mortgages yourself; nothing stops you. What you cannot easily find out is what they will actually accept. How they read self-employed income, which add-backs they allow, how they treat rental income, and what they will accept in place of the documents you cannot produce — none of that is published in full anywhere, and it moves.
A licensed broker who places files with lenders like this every week knows those criteria, and more usefully knows how to structure a file so it lands inside them rather than just outside. On anything that is not a straightforward salaried purchase, that structuring is most of the difference between an approval and a decline. It costs you nothing on a prime mortgage — the lender pays the broker when it funds.
| Lender type | Monoline · Reverse mortgage |
| Division of | Equitable Bank |
| Head office | EQ Bank Tower, 25 Ontario Street, Suite 2200, Toronto, ON M5A 0Y9 |
| Website | equitablebank.ca |
| Phone | 1-866-576-0374 |
Get notified 90 days before your renewal
Your lender contacts you at 30 days, when you have no time to shop. We reach you at 90 — early enough to lock a hold and personalize your offers.
Borrower ratings for Equitable Reverse Mortgages
In today’s world, reviews dictate the service industry. Brokers have taken the hit for bad lenders. We bring the consumer experience to light to help borrowers decide.
How quickly did they issue a commitment and get to funding?
Was the rate you got competitive for the product you qualified for?
Could you reach someone, and did they resolve things?
Portal, e-signing, document upload, online account — did it work?
Were the terms, fees and penalties clear before you signed?
Worked with Equitable Reverse Mortgages?
Score them on the five things above. We confirm every review by email before it publishes, and we publish the bad ones too.
Questions about Equitable Reverse Mortgages
Is Equitable Reverse Mortgages a real mortgage lender?
Yes. Equitable Reverse Mortgages is a monoline (reverse mortgage) based in Ontario, part of Equitable Bank (EQB Inc.). Its own site is equitablebank.ca.
What kind of lender is Equitable Reverse Mortgages?
Monoline — categorised in our directory as Reverse Mortgage. Mortgages and nothing else, sold through brokers. Best pricing in the market and usually the fairest penalty formulas. Most Canadians have never heard of them, which is exactly what this directory is for.
Who owns Equitable Reverse Mortgages?
Equitable Reverse Mortgages is part of Equitable Bank (EQB Inc.). Ownership matters mainly because it tends to determine the funding source and, on a fixed mortgage, how the break penalty is calculated.
Should I go to Equitable Reverse Mortgages directly or through a broker?
You can approach them yourself. The reason most people do not is that a lender's real criteria — how income is read, what is accepted as documentation, what will be allowed as an exception — are not published, and they change. A broker who works with Equitable Reverse Mortgages regularly knows them and knows how to present a file to fit them, which on anything other than a simple salaried purchase is usually what decides the answer. On a prime mortgage it costs you nothing either way, because the lender pays the broker when it funds.
Would Equitable Reverse Mortgages approve me?
No profile page can answer that, and any site that tries is guessing. It turns on how your income is earned and how much of it a lender will count, your credit history, the property itself, and how much you need against what it is worth. Those are the questions a licensed broker asks before naming a lender — and they will tell you which ones realistically fit, this one included, and which would price it better.
Where does Equitable Reverse Mortgages lend?
Its head office is in Ontario. Lending areas change and are not always the same as where the lender is based — confirm current coverage with the lender or a broker before planning around it.
Would Equitable Reverse Mortgages take your file?
Send us the details and a licensed broker will tell you which lenders fit — this one included, and the ones that would price it better.
Send us the file