Reverse mortgage blog
Does TD Offer a Reverse Mortgage? (2026)
General information for Canadian homeowners, not personal financial, legal, or tax advice.
Key takeaways
- TD does not offer a reverse mortgage. What it offers instead is the TD Home Equity FlexLine, a line of credit approved based on income.
- TD's own answer on reverse mortgages defines the product and points readers to the Financial Consumer Agency of Canada. It names no TD product, because TD has none.
- The FlexLine and a reverse mortgage work in opposite directions on the two things that matter most at 55+: a FlexLine requires a payment every month and is approved on income, while a reverse mortgage has no required monthly mortgage payments and is based on age, home value, and location.
- Four lenders offer reverse mortgages in Canada — HomeEquity Bank, Equitable Bank, Home Trust, and Bloom — and two of them are Schedule 1 banks, set up under the same federal law as TD (Financial Consumer Agency of Canada).
- TD has no reverse mortgage calculator, because it has no reverse mortgage. Its mortgage calculators cover payments and affordability on a regular mortgage — the reverse mortgage calculator on this site estimates what the four lenders would lend instead.
TD does not offer a reverse mortgage. Its home equity product is the TD Home Equity FlexLine, a line of credit that requires a payment every month and is approved based on income.
Most people who bank with TD would rather arrange a reverse mortgage there too. The branch is familiar, and keeping everything in one place is simpler.
The challenge is not that the answer is complicated. It is that TD’s own pages never say so directly — they explain what a reverse mortgage is, then point somewhere else, so a homeowner is left guessing whether the product exists at TD at all.
TD does offer a product that lets a homeowner borrow against the home, the TD Home Equity FlexLine, and it works in a genuinely different way from a reverse mortgage. Payments are required every month, and approval depends on income. Four other Canadian lenders offer reverse mortgages instead.
This page states TD’s position plainly, explains the FlexLine and where the two products part ways, and names the four lenders that do offer a reverse mortgage.
Does TD offer a reverse mortgage?
No. TD has no reverse mortgage product.
What TD offers a homeowner who wants to borrow against the home is the TD Home Equity FlexLine, a home equity line of credit. Reverse mortgages in Canada come from four other lenders: HomeEquity Bank, Equitable Bank, Home Trust, and Bloom. Two of those are Schedule 1 Canadian banks, set up under the same federal law as TD — the full picture is in which banks offer reverse mortgages in Canada.
TD’s own answer sends readers to the federal government
TD’s customer help system does answer the question. It defines a reverse mortgage as a loan secured against a primary residence that doesn’t require regular payments, with interest added to the balance over time — then it points readers to the Financial Consumer Agency of Canada and suggests a branch visit to talk about home financing options.
It names no TD product anywhere in that answer. There isn’t one to name.
What does TD offer instead of a reverse mortgage?
The TD Home Equity FlexLine is a home equity line of credit. One part of it works the way most people expect a line of credit to work: draw what’s needed, pay it down, then draw again up to the limit without reapplying. TD calls that the revolving portion.
There’s also an optional term portion, with set monthly payments that pay the balance down the way a regular mortgage does. Adding one is how the borrowing reaches up to 80% of the home’s value.
The catch that decides it for most homeowners over 55
Approval depends on income. TD measures whether the household’s income can afford the payments — the same test any bank applies before it lends on a line of credit. A homeowner who owns the home outright but lives on a modest pension can still be turned down.
Comparing the two doesn’t mean walking into a branch. An independent broker arranges lines of credit and refinances as well, so one person can price both sides of the decision. The head-to-head detail is covered in reverse mortgage vs HELOC.
Is the TD Home Equity FlexLine a reverse mortgage?
No, and the mix-up is understandable. The FlexLine lets a homeowner draw against the home repeatedly while still living in it, which is exactly what most people picture when they hear “reverse mortgage.”
On the two things that decide whether a homeowner 55 or older can actually use one, the two products work in opposite ways.
Payments: required every month, or not required at all
A FlexLine bills every month. On the revolving portion the minimum is the interest, so the balance doesn’t move unless more than that is paid — and the money has to come out of a retirement income for as long as the balance is there.
A reverse mortgage has no required monthly mortgage payments. Interest is added to the balance instead, and the loan is repaid when the home is sold, when the last borrower moves out permanently, or after they pass away.
Property taxes, home insurance, and reasonable upkeep are still the homeowner’s responsibility, the same as with any mortgage.
Approval: what the bank tests, and what a reverse mortgage lender tests
TD tests income. A reverse mortgage lender doesn’t test income the same way. How much a lender will lend is based on age, the home’s value, and its location.
Income is still reviewed, though far more lightly — enough for the lender to be satisfied the property taxes are comfortably affordable.
So the real question isn’t which product sounds better. It’s which one a particular situation can qualify for, and then afford month after month.
Strong income and a clear plan to repay point toward a line of credit. When income is the constraint, the FlexLine is usually the one that gets declined and a reverse mortgage is still available.
Who does offer a reverse mortgage in Canada?
Four lenders offer them. Every reverse mortgage in Canada comes from one of these four:
- HomeEquity Bank (CHIP) — the first and largest, lending since 1986 (full CHIP review).
- Equitable Bank — in the market since 2018, and competitive on rates.
- Home Trust — a federally regulated trust company, available only through mortgage brokers.
- Bloom — a mortgage lender licensed province by province, with the market’s only lifetime fixed rate.
HomeEquity Bank and Equitable Bank are Schedule 1 Canadian banks, set up under the same federal law as TD. The label isn’t what protects a borrower, though.
All four carry the No Negative Equity Guarantee: you or your estate can never owe more than the home’s fair market value at the time the mortgage becomes due, as long as the homeowner obligations are met. All four also require advice from your own lawyer before anything becomes final.
How the four differ on rates, fees, and fit is its own page — the best reverse mortgage companies in Canada.
See what all four lenders would offer on your home
A free, no-obligation estimate compares every reverse mortgage lender in Canada for your age and home — no branch visit, no impact on your credit.
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A referral hands you one offer, not a comparison
A TD branch has no reverse mortgage to offer. Some conversations end there. Others end with a name passed along to a lender that does offer them.
A referral like that hands over one lender’s offer. It’s presented by that lender’s own salespeople, and it’s tested against nothing — no second quote, and nobody asking whether another lender would lend more or charge less.
A broker works the other way around: compares all four lenders, then handles the file personally — the paperwork, the lender questions, the follow-ups. It costs the homeowner nothing, because the lender pays the broker. Choosing a reverse mortgage broker covers how to pick one and the questions that test any of them.
Start with whether, not which
The first question isn’t which of the four lenders fits best. It’s whether a reverse mortgage is the right move at all — or whether savings, a traditional mortgage, or a line of credit like the FlexLine is the better way to pay for whatever the money is for.
A broker who arranges all of those can answer that first, and “none of the above” is a normal answer.
Only then does the lender comparison matter. A free estimate shows what each of the four would offer on a particular age and home, and what a reverse mortgage is covers the product itself from the beginning.
Free Guide:The Canadian Reverse Mortgage Guide
- ✓How much tax-free cash you could unlock — and what moves the number
- ✓The real costs, rates, and fees — nothing buried in fine print
- ✓How the lenders (CHIP, Equitable Bank, Home Trust, Bloom) really compare
- ✓When a reverse mortgage is the wrong choice
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Frequently asked questions
Is the TD Home Equity FlexLine a reverse mortgage?
No. The TD Home Equity FlexLine is a home equity line of credit. It requires a payment every month — on the revolving portion, at least the interest — and TD approves it based on whether household income can afford those payments. A reverse mortgage has no required monthly mortgage payments, and how much a lender will lend is based on age, the home's value, and its location rather than on income. The two get confused because both let a homeowner borrow against a home they keep living in.
Does TD have a reverse mortgage calculator?
No. TD's calculators cover a regular mortgage — a Mortgage Payment Calculator and a Mortgage Affordability Calculator — and there is no reverse mortgage calculator among them, because TD does not offer the product. The reverse mortgage calculator on this site estimates what the four Canadian reverse mortgage lenders would lend, based on age and home value.
Why doesn't TD offer a reverse mortgage?
A reverse mortgage sends money out and collects nothing for years, because there are no required monthly mortgage payments. That takes staff and systems built around homeowners 55 and older rather than around collecting a payment every month. TD already offers the borrowing products that suit how it works — lines of credit and refinances, both approved on income — so a handful of specialized lenders built the reverse mortgage expertise instead.
Can a reverse mortgage pay off an existing TD mortgage?
Yes. A reverse mortgage always pays off and closes any mortgage or line of credit already registered against the home, because it has to be the loan that ranks ahead of everything else on title. For many homeowners that is the point of arranging one: the TD mortgage payment stops, and any money left over after those debts are cleared goes to the homeowner tax-free. Breaking a TD mortgage part way through its term can trigger an early-payment charge, so that cost gets priced into the decision before anything is arranged.
Will a TD branch refer me to a reverse mortgage lender?
TD's own published answer on reverse mortgages points readers to the Financial Consumer Agency of Canada and suggests visiting a branch to discuss home financing options. A branch referral, wherever it comes from, hands over one lender's offer presented by that lender's own salespeople and tested against nothing. A mortgage broker instead compares all four Canadian reverse mortgage lenders and handles the file personally, at no cost to the homeowner.
Get the answer a TD branch can't give you
A free, no-obligation estimate compares every reverse mortgage lender in Canada for your exact age and home — with no impact on your credit.
Get my free estimate About the author
Richard Hopkins
Licensed Mortgage Broker · M16000896
Richard has worked in the mortgage business since 2013 — first as a mortgage agent, today a licensed mortgage broker — and leads the reverse mortgage practice at Homestead Financial — Dominion Lending Centres, an FSRA-licensed Ontario brokerage (#11711) with roots in the industry since 1999 and more than 2,500 mortgages funded. More about Richard →
This article is general information for Canadian homeowners, not personal financial, legal, or tax advice. Everyone's situation is different — please get advice on your own numbers before making a decision.