Bloom Reverse Mortgages
Reverse mortgage lender for homeowners 55+ in AB, BC and ON, with no credit-score minimum and lending capped at 55% of the home value. It lends Alberta, British Columbia, Ontario.
Prepayment-penalty method
Fair, contract-rate penalty
If you break a fixed term early, the penalty is calculated the borrower-friendly way, using your actual contract rate. This is usually far cheaper than a big bank's posted-rate method, and it is one of the biggest hidden costs most people never compare.
See what breaking a mortgage early could costWho it tends to fit
- Homeowners aged 55+ looking at a reverse mortgage
- Self-employed and business-owner borrowers
General signals only. Approval depends on the full application; a lender that fits on paper still has to say yes.
What you can do with it
- Reverse mortgage
Features
- Reverse mortgage
Rate types
- Fixed rates
- Variable rates
Where it lends
Alberta, British Columbia, Ontario
Good to know
- No income or payment qualification, but the balance grows over time and borrowing is limited to 55% of value
- Early-payout penalties in the first three years follow a declining 4/3/2% schedule
How to reach Bloom Reverse Mortgages
Available only through a licensed mortgage broker, not directly to the public. This is educational information, not a rate quote; confirm current rates and terms directly.
Visit Bloom Reverse MortgagesEducational summary; rates, terms, and approval are set by the lender.
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Other reverse mortgage lenders
Educational information about Canadian mortgages, not financial or mortgage advice. This tool is offered by Jordan Avery, Mortgage Agent (Level 2), Licence M23999999 · Maple Key Mortgages Inc., FSRA Brokerage Licence 13999 and operated by LenderSearch; figures are estimates. Confirm all rates, terms, and eligibility directly with the lender before acting.