We initially had a rough start with an advisor who didn't seem to care much. However, we then transferred to Stephanie, and she really helped us immensely throughout the process. There were many uphil... See more
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A huge decision, back & forth, to step into a Reverse Mortgage with Equitable Bank made all the easier with Mitch & Charlene who guided me along the way. Calls were always returned in quick time &... See more
I dealt with Stephanie Caero at EQ bank and I recommend her highly. My reverse mortgage went through so fast, and Stephanie was there every step of the way, 'holding' my hand if necessary. The only t... See more
Stephanie Caero was very professional, knowledgeable, efficient and friendly during the whole process. All our questions were answered and everything went fairly smoothly although the process took lon... See more
Company details
About EQ Bank Reverse Mortgages
Written by the company
Enjoy your hard-earned home equity in retirement, without having to sell or make monthly payments. Access your home equity in tax-free cash and stay in the home you love. Plus, we’ll beat any posted rates for comparable reverse mortgages.* Is your traditional mortgage weighing you down? Do you have high-interest debt? Or maybe you’re simply looking to free up cash flow to fund home renovations or help a loved one. Whatever your priorities, we can find a solution that works for you. Call us today to chat with one of our reverse mortgage specialists.
Access your home equity in tax-free cash. Stay in the home you love with no monthly payments to worry about.
Is your traditional mortgage weighting you down? Do you have high-interest debt? Or maybe you’re simply looking to free up cash flow to fund home renovations or help a loved one. Whatever your priorities, we can find a solution that works for you.
Call us today to chat with one of our reverse mortgage specialists.
1-866-644-0802
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Contact info
2200-25 Ontario Street, M5A 0Y9, Toronto, Canada
- 1-866-644-0802
- reversemortgage@eqbank.ca
- eqbank.ca/reverse-mortgage
4.5
Excellent
147 reviews
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Equitable Bank for all your financial needs
The entire process from beginning to end was explained to me and went off without any problems , a big thank you to Agnes Letkeman for her help and everyone that i dealt with . I highly recommend Equitable Bank.
August 17, 2022
Reply from EQ Bank Reverse Mortgages
Hi Mike, thanks for recommending us! We're glad Agnes and the team were able to help you though the process!
Fantastic underwriting and BDM team
Fantastic underwriting and BDM team. Very responsive and client centric.
October 15, 2021
Reply from EQ Bank Reverse Mortgages
Hi Richard, we're so glad to hear you had a positive interaction with our team! Thanks for leaving us a review!
I recently completed a reverse mortgage…
I recently completed a reverse mortgage with Equitable Bank. It is scheduled to fund on September 30th.
My underwriter, Patricia Finka and mortgage officer John Fernandez were over the top amazing to work with. Patricia is quick, efficient and knowledgeable. John was helpful and responded to my emails and phone calls immediately. The workflow was smooth and very fast. Top notch!
What a pleasure to work with Equitable Bank Reverse Mortgage Team!
August 26, 2022
Unprompted review
Reply from EQ Bank Reverse Mortgages
Hi Sue, thank you so much for your lovely review! We're glad you had such a good experience with Patricia and John. We look forward to working with you in the future!
Reply from EQ Bank Reverse Mortgages
Hi Hugo, thanks for the great review! We’re so glad that we can make life a little easier for you!
Thank you for expanding your coverage to Rural...
I was so pleased when Equitable Bank expanded into rural areas. They have been so helpful and supportive in refinancing the reverse mortgage of my home. I would recommend Equitable Bank to anyone looking to Reverse Mortgage their home.
I had been with another reverse mortgage company and they had served me well until I had to refinance. So I can speak from experience and I truly would recommend Equitalble's reverse mortgage services.
August 19, 2022
Reply from EQ Bank Reverse Mortgages
Hi Wendy, thank you for recommending us! We’re delighted that we were able to support you through your refinancing process!
Although there were some minor errors…
Although there were some minor errors in the initial documentation, the mortgage went through as promised, on time and without major difficulties. Staff were friendly, helpful and knowledgeable.
August 18, 2022
Reply from EQ Bank Reverse Mortgages
Hi Stephen, we’re happy to hear that our team was friendly, helpful, and knowledgeable throughout the process! Thanks for the great review!
Everything was fine except it seemed it…
Everything was fine except it seemed it was all done then something else came up. Never ending
August 18, 2022
Reply from EQ Bank Reverse Mortgages
Hi Lyla, thank you for the review. We are continuously working to improve our process and appreciate your feedback.
I found them competent in legal-tax…
I found them competent in legal-tax mortgage aspects in Vancouver.
No room for error!!!
July 20, 2022
Unprompted review
Reply from EQ Bank Reverse Mortgages
Hi Gordon, thanks for the great review! We strive for the best here at Equitable Bank!
I found that the people I delt were…
I found thst the people I delt were very good, especially Mark.
I wasn't sure that the extea lawyer was necessary
June 21, 2022
Reply from EQ Bank Reverse Mortgages
Hi Patrica, we’re delighted to hear that you had a great experience with our team! Although we understand that obtaining independent legal advice (ILA) adds an extra step, this is important as it’s provided for your benefit to ensure you understand the terms and conditions of the reverse mortgage, are of sound mind and judgement, and that you are not being pressured to sign the mortgage documents. The lawyer providing you with ILA does not represent Equitable Bank or any other interested party. ILA is required to ensure you understand the legal aspects of the reverse mortgage, without any bias or prejudice. Thank you for the review!
Relief in the Golden Years
The reverse mortgage is very helpful in the later years of life. As expenses continue to climb. When retiring one estimates the amount they would require to continue on living comfortable but unfortunately one has no control over the cost of living in the years to come and may find themselves in a financial struggle. As you age, changes in life expectancies due change to illness and family loss. Not wanting to be housed in retirement home, with the reverse mortgage allows one to maintain their homes in comfort. One of the most expensive items in you life is a home, having spent a lifetime of payments to a mortgage company it is a wonderful means getting back what you put into it before the day comes that you are no longer there...
June 18, 2022
Reply from EQ Bank Reverse Mortgages
Hi Alan, we’re so happy that our reverse mortgage solution has allowed you to continue to enjoy your Golden Years in your own home. Thank you for the review!
Excellent service
The person which I forgot the name was extremely friendly and I had a great device from him and from Multi prêt
June 16, 2022
Reply from EQ Bank Reverse Mortgages
Hi Renald, we’re happy to hear that you had a great experience with our Equitable Bank Reverse Mortgage team! Thanks for taking the time to share your experience!
We are seniors 71 and 75 yes old.......
We are seniors 71 and 75 yes old.......
In the last few years we kind of got ourselves in a financial bind......I talked about a reverse mortgage w my husband and NO WAY WOULD HE GET A REVERSE MORTGAGE !!!!
However we were at a pool party last summer in Hamilton .........I did home daycare out of my house years ago and this pool party was some of my former charges.....
One of the fellas was a mortgage person so it happened that I asked him if he knew anything about reverse mortgages and he did and gave us the name of his father in law who does them......
We had a online interview with him......after ALL of the reasons my husband had about reverse mortgages......he listened and by the end of our appt he agreed...
I think knowing someone in reverse mortgages helped us.....Todd wouldn't screw us around.....
The worst part of it was we are not techy so face to face we would have liked better...
We were approved ..got OUR money... .they paid all out bills and the heaviest in my chest was gone... ... ... .
June 5, 2022
Reply from EQ Bank Reverse Mortgages
Hi Richard, thank you for the positive feedback! We’re so happy that your financial concerns were alleviated with our reverse mortgage solution.
Very well organized
It takes a lot of paperwork, but the assistance from Sarita Free was great. The money was as promised and looking forward to a debtfree retirement.
April 20, 2022
Reply from EQ Bank Reverse Mortgages
Hi Adrie, thank you for the positive feedback! We're glad that you had a great experience with your broker and that everything was very well organized throughout the process. We look forward to the positive impact this product has on your retirement!
Our contact Agnes was great to work…
Our contact Agnes was great to work with. She was easy to deal with and was transparent. Took a while to get it done but we liked the experience.
April 19, 2022
Reply from EQ Bank Reverse Mortgages
Hi Timothy, we're delighted to hear that you had such a great experience working with Agnes! It's great to hear that she was easy to deal with and super transparent throughout the process. We'll be sure to share your kind words with her. Thank you for taking the time to share your experience with us!
It was a pleasure dealing with Agnes…
It was a pleasure dealing with Agnes Letkeman at the Equitable Bank. Agnes responded quickly and thoroughly to all of our questions and provided the information that we needed when we were unsure of something. I wouldn’t hesitate to call her if I needed any further clarification or questions.
Thanks Agnes for all of your help!
Barbara S.
March 29, 2022
Reply from EQ Bank Reverse Mortgages
Hi Barbara, thanks for taking the time to share your experience with us! We’re super happy to hear that Agnes was able to support you every step of the way – we’ll be sure to share your kind words with her. Thank you for all the positive feedback!
Everything went smoothly with little…
Everything went smoothly with little difficulty and no surprises
March 17, 2022
Reply from EQ Bank Reverse Mortgages
Hi Joseph, thank you for taking the time to leave us a review! We appreciate the positive feedback and are happy to hear that the entire process went smoothly for you.
The agent answered all of my questions
The agent answered all of my questions, put me at ease to take a reverse mortgage I'm very satisfied with all the procedures I recommend Equitable Bank.
March 16, 2022
Reply from EQ Bank Reverse Mortgages
Hi Ronald, thank you for taking the time to post a review. We’re glad that our team was informative and made you feel at ease about your decision!
lots of red tape
lots of red tape, and duplicating of paper work, some requirements didn't make sense.
March 16, 2022
Reply from EQ Bank Reverse Mortgages
Hi Jerald, thank you for the feedback. We’re continually working to improve and simplify our reverse mortgage closing process and are sorry yours wasn’t as smooth as it could be. We’ve passed these comments to the right team as we look to address these concerns for future closings.
ln June I am going to be 91 years old
ln June I am going to be 91 years old. I clicked on line, about reverse mortgages, and someone call me in a few days from Toronto.
When my son talked to his mtge broker , and was told they could do the same from their office in Burlington
As my husband and I bought our lot in 1950, built our house with cash, never got a mortgage for it
I decided to go for a reverse mortgage I am not in need of the money personally but with real estate values so high decided to place a reverse mortgage on my property, for inheritance purpose.
It was like swimming in mud for me with several hick=ups along the way. The interest fees on the large amount are quite shocking to me. Its like the mortgage Co. is sitting across from me with a gun on their lap. BUT it is not loaded
Sincerely June Bennett
March 16, 2022
Reply from EQ Bank Reverse Mortgages
Hi June, thank you for taking the time to share your experience with us. We’re sorry to hear that there were hiccups during the process. We take pride in consistently offering the lowest reverse mortgage rates in Canada. We offer tools on our website for both mortgage brokers and clients, which provide detailed financial illustrations that help give a better understanding of how our product works. If we can help you access these or answer any questions, please don’t hesitate to contact us.
Everything was very clear
Everything was very clear, and well explained. The financial projections showing the implications in different scenarios were clear. It was adaptable to our situation.
March 16, 2022
Reply from EQ Bank Reverse Mortgages
Hi Neil, we’re so happy to hear about your recent experience with Equitable Bank. We appreciate you taking the time to leave a review!
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