Today’s Reverse Mortgage Rates updated as of November 20, 2024 5:14 pm
*Rates can change at anytime. Other conditions apply. Rate in effect as of today.
Equitable Bank offers Canadian homeowners aged 55+ a secure and flexible way to access their home equity through reverse mortgages. Whether you’re looking to supplement your retirement income, fund home renovations, or consolidate debt, an Equitable Bank Reverse Mortgage provides financial freedom without requiring monthly mortgage payments.
Equitable Bank is one of Canada’s leading reverse mortgage providers, known for its competitive rates and customer-centric approach. Here’s what sets them apart:
Flexible Loan Options
Choose between fixed and variable interest rates to suit your financial needs.
No Negative Equity Guarantee
You’ll never owe more than your home’s fair market value when it’s sold, giving you peace of mind.
Customized Payouts
Receive your funds as a lump sum, in scheduled payments, or a mix of both.
Maintain Homeownership
Stay in your home while accessing its equity.
Expert Support
Equitable Bank’s team provides personalized support to guide you through every step of the reverse mortgage process.
For more details on how reverse mortgages work, visit the Financial Consumer Agency of Canada (FCAC).
As of 2024, Equitable Bank offers some of the most competitive reverse mortgage rates in Canada:
For the latest rate updates, visit Equitable Bank Reverse Mortgage Rates.
This financial solution is ideal for Canadian seniors who:
The amount you can borrow depends on several factors, including:
Use our Reverse Mortgage Calculator to get an estimate of your borrowing potential.
Here’s a breakdown of typical fees associated with an Equitable Bank Reverse Mortgage:
Understanding the market trends and usage patterns for reverse mortgages can help you make informed decisions. Here are key statistics:
Yes, reverse mortgages in Canada are regulated by federal and provincial laws. Lenders like HomeEquity Bank and Equitable Bank offer government-backed solutions with no negative equity guarantees.
The loan is typically repaid when you sell your home, move into long-term care, or pass away. You or your estate won’t owe more than the home’s fair market value at the time of sale.
Here are some examples of how clients commonly use it:
No, both you and your spouse must be at least 55 years old to qualify for a reverse mortgage in Canada.
No, as long as you meet your obligations, such as keeping your property taxes and insurance up to date, you can stay in your home for life.
Canadian reverse mortgages come with a no negative equity guarantee, meaning you’ll never owe more than the value of your home.
The loan is typically repaid when you sell your home, move into long-term care, or pass away.
Yes, prepayment penalties may apply. However, Equitable Bank offers flexible repayment options to minimize costs.
At Citadel Mortgages, we’re committed to finding the best reverse mortgage solutions for your unique needs. Partnering with Equitable Bank allows us to offer:
Understanding your reverse mortgage potential is easier with our Reverse Mortgage Calculator. This tool provides an instant estimate of how much equity you can access based on:
Try the Citadel Mortgages Reverse Mortgage Calculator today to explore your options!
An Equitable Bank Reverse Mortgage offers Canadian homeowners a secure, flexible way to unlock their home equity. Whether you’re planning for retirement, managing debt, or funding home improvements, this financial tool provides the freedom to live comfortably without monthly payments.
Contact Citadel Mortgages today to explore how an Equitable Bank Reverse Mortgage can work for you.
Copyright © 2018 Citadel Mortgages
Head Office – 150 King Street West 2nd Floor Suite 335, Toronto, ON M5H 1J9
Alberta Office – 421 7th Avenue S.W., 30th Floor, Calgary, Alberta, T2P 4K9
Nova Scotia Office – 1701 Hollis Street, Suite 800 Halifax, NS B3J 3M8
Saskatchewan Office – 2010 – 11th Avenue 7th Floor Regina Saskatchewan S4P0J3
Newfoundland Office – 1 Church Hill – Suite 201-522 St. John’s Newfoundland A1C 3Z7
New Brunswick Office – 500 St George Street, Moncton NB, E1C 1Y3
British Columbia Office – 900-2025 Willingdon Avenue, Burnaby BC, V5C 0J3
Montreal Office – 1155 Rue Metcalfe #1500, Montreal, QC, H3B 2V6
Citadel Mortgages is licensed in the following: Ontario FSRA 12993 – Saskatchewan FCAA 509446, Nova Scotia 2021-3000010 – Alberta, PEI, Nunavut, Newfoundland 21-07-CI083-1. New Brunswick 210031130, British Columbia X301267, Quebec AMF – 3003071684
All rights reserved
“Instant Approval, Conditional Approval, Pre-Approval” – Borrower subject to credit and underwriting approval. Not all borrowers will be approved for conventional financing or equity financing. Receipt of the borrower’s application does not represent an approval for financing or interest rate guarantee. Restrictions may apply; Annual APR is subject to approval and underwriting; APR includes all fees and rates calculated on a yearly term. APR varies; contact us for current rates or more information on a specific product. OAC. Citadel Mortgages. All
discounted mortgage products may be subject to an exclusivity agreement between
the applicant(s) and Citadel Mortgages. We thank you for your continued
support and look forward to providing our beloved customers with an unparalleled
level of service, ethics, and deal transparency. Please note some rates are based on province and are subject to change at any time. Please note not all rates are available in Quebec, please contact us to confirm your rate approval.
®™ Trademarks of AM Royalties Limited Partnership used under license by AIR MILES Loyalty Inc. and Citadel Mortgages
Esso and Price Privileges are trademarks of Imperial Oil Limited. Imperial Oil, licensee. Mobil and Speedpass+ are trademarks of Exxon Mobil Corporation or one of its subsidiaries. Imperial Oil, licensee. For terms and conditions, visit fbet-ca.com