Great experience start to finish

They were transparent with fees and the details of the mortgage, and their customer service was great. They were also ready to close ahead of schedule.

Transparent fees and rates

No hidden costs, no surprises.

Flat fees

At Bloom, we try to keep our fees as low as possible to allow more homeowners to keep living in the homes they love, worry-free.

A one-time processing fee, an appraisal fee and an ILA Certificate fee will be deducted from your proceeds, so you don’t need to pay anything out of pocket.

Processing¹
$1,650

Appraisal²
‍$350

ILA Certificate³
‍$300

Total
‍$2,300

1. This is to compensate Bloom for costs such as hiring lawyers to prepare and register your mortgage.
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2. This is to compensate us for hiring a professional appraiser to estimate the value of your home for lending purposes.
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3. This is an estimate of the independent legal advice component of borrower legal costs. The full cost of borrower legal fees is beyond the control of Bloom and not included in this estimate.

Competitive interest rates

4. This rate may be available for new home equity release mortgages, prior to the first interest rate reset, in certain locations, and is subject to meeting Bloom's credit granting criteria. This rate may be changed, extended or withdrawn at any time without notice. Bloom's rates, including the Promotional Rate, are compounded semi-annually.

5. This is the estimated cost of borrowing for 5 years expressed as an annual percentage. It is based on a $200,000 mortgage, and includes the Processing, Appraisal, and ILA Certificate fees outlined above for new home equity release mortgages.

6. This rate applies to home equity release mortgages that are not subject to the Promotional Rate, including for the purpose of determining the new rate on a home equity release mortgage that becomes subject to an interest rate reset. Bloom's rates, including the Bloom Rate, are compounded semi-annually.

Excellent Reverse Mortgage Experience

Thank you Bloom Finance and team for an amazing experience for my client. Everything was handled so professionally and the reverse mortgage application was completed in less than two weeks. Highly recommend Bloom to seniors looking to access equity out for the lowest possible interest rate to help them take care of their financial needs.

Your reverse mortgage questions, answered

For more questions and answers, visit our FAQs page.

Unlock financial peace of mind

Access up to 55% of the value of your home as tax-free cash and live retirement on your own terms.

Apply now

Stay in the home you love

Maintain 100% ownership

No monthly payments required