Equitable Reverse Mortgages

Equitable Bank

TermFixedARMSetup Costs 1
Reverse
Mortgage
(Lump-Sum) 2		6 Month
1 Year
2 Year
3 Year
5 Year		4.29%
3.44%
3.94%
3.99%
4.19%		–
–
–
–
P + 1.64%		$995
Reverse
Mortgage
(Flex) 2		6 Month
1 Year
2 Year
3 Year
5 Year		4.29%
3.44%
4.34%
4.39%
4.89%		–
–
–
–
P + 1.64%		$995
Reverse
Mortgage (Flex
Reset)		6 Month
1 Year
2 Year
3 Year
5 Year		4.59%
3.74%
4.64%
4.69%
5.19%		–
–
–
–
P + 2.24%
1 Setup costs will be deducted from the mortgage proceeds/advance
2 These rates only apply to certain transactions within Equitable Bank’s lending guidelines. Rates and conditions are subject to change without notice.

DISCLOSURE:

• Rates and/or discounts are subject to change without notice

• Equitable Bank Reverse Mortgage Prime Rate is 2.45%

Receiving Your Money

Initial Advance

• Draw a portion or all of eligible funds up front

• Minimum initial advance: $25,000

Recurring Advances

• Schedule advances monthly, quarterly, semi-annually, or annually for up to 20 years

• Available for adjustable interest rate reset term only

• Not subject to a disbursement fee if recurring advances set at origination

Single Advances

• Receive remaining funds upon request any time after closing

• Minimum advance: $5,000

• Subject to $50 fee for each subsequent advance

For more information, please visit www.equitablebank.ca or speak to your Business Development Manager