Reverse Mortgage Broker in Ontario Compares All Four Lenders for Homeowners Aged 55+
Just another WordPress site
Press Release Disclaimer: This is a press release distributed through the XPR Media network. It has not been independently verified by our newsroom.
HAMILTON, Ontario – October 05, 2026 – A reverse mortgage broker in Ontario has published a free, public comparison of every reverse mortgage lender in Canada, aimed at homeowners aged 55 and over who are being quoted by one lender and have no way to see the rest of the market.
Canada had a single reverse mortgage lender until 2018. It now has four. Each one prices differently, charges different set-up and exit costs, and lends a different share of a home’s value depending on the borrower’s age. A homeowner who approaches one of them directly is shown one offer, by that company’s own salespeople.
The comparison is published by Richard Hopkins, a Mortgage Broker (licence M16000896) with Dominion Lending Centres Homestead Financial, an independent Ontario brokerage licensed by the Financial Services Regulatory Authority of Ontario (brokerage licence #11711) and in business since 1999. The brokerage has arranged mortgages for more than 1,200 Ontario families.
“A homeowner who calls a lender directly gets one company’s answer. A reverse mortgage broker puts all four in front of you and says which one fits your situation, including when the answer is none of them,” said Richard Hopkins, Mortgage Broker, licence M16000896.
It is free to read at ReverseMortgageBroker.ca and requires no sign-up.
Reverse mortgages let Canadian homeowners aged 55 and over borrow against the value of their home with no required monthly mortgage payments. The balance is repaid when the home is sold, when the owners move out, or after the last borrower passes away. Homeowners stay on title and keep ownership throughout. Every one of the four lenders offers a guarantee that a borrower can never owe more than the home is worth at the time it is sold, typically called the no negative equity guarantee, provided the terms of the mortgage are kept.
What varies between lenders is the part most homeowners never see:
How much you can borrow. The share of a home’s value available rises with the borrower’s age, and the four lenders do not set the same ceiling. The gap between the most generous and the least generous is large enough to change what a homeowner can actually do.
What it costs to set up. Appraisal, lender set-up fee and independent legal advice are charged by every lender, at different amounts.
What it costs to leave early. Early repayment charges differ in both size and structure, and this is the number that decides whether a reverse mortgage suits someone who may sell in a few years.
What happens at renewal. Some lenders publish the schedule an existing borrower resets to. Others do not.
A mortgage broker is paid by the lender the client chooses, after the mortgage funds. The homeowner pays the broker nothing. Appraisal and legal costs still apply, and are disclosed before anything is signed.
Ontario law requires every reverse mortgage borrower to receive independent legal advice from their own lawyer before closing.
Homeowners can see the comparison and request a free estimate, with no credit check and no sales pressure, at: https://reversemortgagebroker.ca/?utm_source=abnewswire&utm_medium=press_release&utm_campaign=pr03-broker-home
About Dominion Lending Centres Homestead Financial
Dominion Lending Centres Homestead Financial is an independent mortgage brokerage in Hamilton, Ontario, licensed by the Financial Services Regulatory Authority of Ontario (brokerage licence #11711) and in business since 1999. More than 1,200 Ontario families have arranged a mortgage through the brokerage. Independently Owned and Operated. Richard Hopkins, Mortgage Broker (licence M16000896), leads its reverse mortgage practice and compares every reverse mortgage lender in Canada for homeowners across Ontario.
Media Contact
Company Name: Homestead Financial
Contact Person: Richard Hopkins
Email: Send Email
Phone: 905-690-6068
Address:26 Glaceport Ave
City: Dundas
State: Ontario
Country: Canada
Website: https://reversemortgagebroker.ca/?utm_source=abnewswire&utm_medium=press_release&utm_campaign=pr03-broker-home
Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Reverse Mortgage Broker in Ontario Compares All Four Lenders for Homeowners Aged 55+
