Equitable Bank Prime Mortgages, Explained
Equitable Bank is one of Canada’s biggest challenger banks — but on the prime side it stepped back from broad broker lending in 2024. Here’s the honest picture of where Equitable prime fits today, and where Equitable is still a go-to for us.
Who is Equitable Bank?
Equitable Bank — known to consumers through its EQ Bank brand and often called “Canada’s Challenger Bank” — is one of the country’s largest lenders outside the Big Six. It has long been a heavyweight in alternative mortgage lending, and it also offers reverse mortgages. Prime lending, though, has been a smaller and more on-again/off-again part of its broker business.
What happened to Equitable’s prime broker lending?
In 2024, faced with thin prime margins and market conditions, Equitable stepped back from originating prime mortgages through the broad broker channel. It later announced a limited return to prime in 2026, but that relaunch is available exclusively through one broker network rather than the channel at large. The practical result for our Alberta clients: we generally can’t place a brand-new Equitable prime mortgage — but we can help with renewals and ports of an existing Equitable mortgage, and Equitable remains fully available to us for alternative and reverse lending.
Where Equitable still fits
- Equitable Bank (Alternative) — its core strength: common-sense lending for the self-employed, newer-to-Canada buyers, bruised credit and non-traditional income.
- Equitable Bank (Reverse) — its reverse-mortgage option for homeowners aged 55+, a competitor to CHIP.
- Existing Equitable prime clients — if you already have an Equitable prime mortgage, we can review your renewal or a port and compare it to the wider market.
How a Calgary mortgage broker helps
Even where one lender pulls back, the broker advantage holds:
- If you’re an existing Equitable client, we review your renewal or port and benchmark it against 30+ lenders.
- If you need a new prime mortgage, we place it with a lender that’s competing hard for it today.
- If your file is better suited to alternative or reverse lending, Equitable is still very much on the table.
- It’s free, with no credit hit to start and no obligation.
Renewing an Equitable mortgage, or shopping a new one?
We’ll review your Equitable renewal or port, or place a fresh mortgage with the sharpest lender available today. Apply online in about two minutes, or book a no-pressure discovery call.
Free · No credit check to start · No obligationFrequently asked questions
Can I get a new Equitable Bank prime mortgage through a broker?
Can you renew or port my existing Equitable mortgage?
Does Equitable still offer alternative mortgages?
Does Equitable offer reverse mortgages?
This article is general information, not financial, mortgage or legal advice. Lender availability, products, rates, features and penalty structures vary, are subject to change and depend on lender approval. Equitable Bank is not affiliated with Mortgages for Less and no endorsement is implied. Please speak with a licensed mortgage professional about your specific circumstances. Mortgages for Less with INDI Mortgage.