CHIP vs Equitable vs Bloom vs Home Trust: The Complete 2026 Comparison

Canada has four active reverse mortgage lenders as of 2026: HomeEquity Bank (CHIP), Equitable Bank, Bloom Finance, and Home Trust (EquityAccess). Each has distinct advantages, rate structures, and eligibility requirements. As an independent broker, we work with all four — and this guide gives you the unbiased picture.

Quick Comparison Table

HomeEquity Bank (CHIP Reverse Mortgage)

HomeEquity Bank invented the Canadian reverse mortgage product in 1986 and remains the market leader with roughly 80% market share. Their CHIP (Canadian Home Income Plan) product is well-known to advisors, lawyers, and financial planners across the country.

Best for: Homeowners who want maximum brand recognition, extensive advisor network, and rural/smaller town properties. CHIP accepts a wider range of property locations than competitors.

Equitable Bank

Equitable entered the reverse mortgage market in 2018 and has quickly become the primary alternative to CHIP. Their product offers a higher maximum LTV of 59% (vs CHIP's 55%) and lower setup fees.

Best for: Urban homeowners (Toronto, Ottawa, Vancouver, etc.) who want to maximize the amount they can access, especially at younger ages. Equitable applies a slight "boost" multiplier to their LTV calculations.

Bloom Finance

Bloom is the newest direct-to-consumer lender (launched 2021) and has made waves with their SafeRate product — a lifetime fixed rate that never increases for the life of the loan. The current SafeRate is 6.69%, which is the lowest fixed rate available in Canada.

Best for: Clients who are concerned about interest rate increases and want certainty. The lifetime fixed rate gives long-term predictability that CHIP and Equitable cannot match. Requires minimum age of 60.

Home Trust (EquityAccess)

Home Trust launched their EquityAccess reverse mortgage product in October 2025, making them the newest entrant to the market. They offer competitive rates and a maximum LTV of 59%, matching Equitable Bank.

Best for: Homeowners looking for competitive terms in major urban centres. As a new product, EquityAccess is actively competing on price to gain market share.

Which Lender is Right For You?

The right lender depends entirely on your individual situation — age, property type, location, how much you need, and how long you plan to hold the loan. As an independent broker, we run your scenario through all four lenders and present a side-by-side comparison.