Equitable Bank is Canada’s seventh-largest Schedule I bank, headquartered in Toronto and known as a leading monoline mortgage lender. They provide a wide range of residential lending options—covering prime, alternative, HELOC, reverse, and laneway-home mortgages—through mortgage brokers nationwide .
Mortgage Products Available
- Fixed and adjustable-rate mortgages with competitive rates
- High-ratio/insured mortgages for down payments up to 95%
- Alternative lending solutions (for self-employed, newcomers, or credit challenges)
- Home Equity Line of Credit (HELOC) standalone or combined up to 80% LTV
- Laneway‑house mortgages allowing secondary suites in select regions
- Reverse mortgages for homeowners aged 55+ to access home equity
Ideal Clients and Use Cases
- First‑time buyers needing both insured or prime mortgages
- Self‑employed, newcomers, foreign‑income earners needing flexible underwriting
- Homeowners seeking HELOC or cash‑out refinance options
- Owners wanting to build a laneway house or secondary suite
- Seniors seeking non‑amortizing reverse mortgage options
- Borrowers transitioning with adjustable-rate flexibility
Advantages
- Broad product suite serving diverse borrower needs
- HELOC flexibility, with combined and standalone options
- Innovative laneway home financing in key regions
- Reverse mortgages as a viable option for older homeowners
- Personalized broker‑only access, ensuring advice tailored to your situation
- Strong digital tools including online calculators and account portals
Potential Drawbacks
- Accessible only through brokers—no branch locations
- Alternative products may come with higher rates
- Limited availability of laneway mortgages to select areas
- Reverse mortgages require homeowners to be 55 or older, with varying interest rates
Is Equitable Bank Right for You?
Equitable Bank is a strong choice if you’re looking for flexible mortgage options beyond conventional bank offerings. Whether you’re self-employed, a newcomer, building a laneway home, or seeking a reverse mortgage, they offer modern solutions to match.
How We Can Help
We can help you explore Equitable Bank’s products alongside other lenders to find your best fit. For mortgage applications, refinances, renewals, or HELOCs:
- Apply online now
- Contact us for personal assistance
