Bloom Finance Company Review 2026Apply Now Check if I Qualify ↓
Written and analysed by Smarter Loans Editorial Team · Reviewed by Vlad Sherbatov
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Four questions checked against Bloom Finance Company's published criteria, per product. No application started.
Bloom's gate is age and title, not income: every borrower on title must be 55 or older, living in the home they are borrowing against.
Since no regular payments are required, your credit score is not as important here as it is for other mortgage products, and Bloom says so in its own criteria. The loan repays from the home, not the pay cheque.
The property has to be an owner-occupied principal residence. A rental, a cottage or an investment property does not qualify, and neither does a home where anyone on title is under 55.
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11 reviews from borrowers who used Bloom Finance Company. Each is submitted by a verified borrower and moderated for authenticity; it renders as written, positive or not, and lenders cannot remove it.
The staff at Bloom Finance Company is very knowledgeable and they were able to answer all my questions about a home equity release and how it would work. Thank you!
Working with Sarah Andrews was a complete pleasure. She is friendly, efficient and very patient. I would highly recommend Sarah and Bloom to friends and family. Thank you!!
Just started looking at reverse mortgages and called Bloom to better understand the process. While I am not ready to make the move yet, the Bloom representative was very patient in answering all of my questions . I will definitely reach back out to Bloom when I am ready to pursue a reverse mortgage. Top notch customer service!
From my initial website query through to the receipt of my mortgage funds, Bloom supported me with phone calls and emails. Thank you, Bob for responding so quickly and professionally to my many questions.
Bloom Finance was very quick in getting my reverse mortgage completed. It was the quickest mortgage that I had ever got. I was able to lock in my mortgage before the rate increase. I would recommend Bloom Finance.
While beginning my research into a reverse mortgage I found the customer service representative at Bloom to be very patient and helpful in answering all of my questions, in a straight forward, professional manner. I would highly recommend Bloom to others looking to better understand if a reverse mortgage is right for them.
Bloom made the reverse mortgage process simple and comfortable. Great service!
Helpful team and quick application. Would recommend Bloom to other seniors.
They helped me unlock value from my home and increase my monthly cash flow.
Clear communication and no pressure. I appreciated their honesty.
Showing 10 of 11 reviews.
Bloom is a Canadian company that uses technology and customer-centric innovation to deliver simple, seamless financial solutions to 55+ Canadians.
Bloom offers home equity releases and reverse mortgages.
Bloom Finance Company was founded in 2019, with the belief that 55+ Canadians could increasingly flourish in retirement if they looked to the wealth in their homes as part of their overall retirement strategy.
Bloom Finance Company's mission is to help 55+ homeowners find financial flexibility in what should be the springtime of their lives.
Bloom offers home equity releases (sometimes referred to as reverse mortgages) between $20,000 and $2,000,0000. You can try their Free Calculator to get a rough idea of what you could unlock by going to their website. Or better yet, give them a call at 1-866-882-5666 and your Bloom Customer Advocate can give you your no obligation quote.
The interest rate on a Bloom loan is between 4% and 5%.
It’s your home, your retirement, and your money. The wealth you unlock from your home is yours to do with what you wish. Some customers use their Bloom Home Equity Release to help support general expenses, give a living inheritance to their loved ones, fund home renovations, or pay for a dream vacation. But you’re in control.
Your Bloom Home Equity Release will accrue interest, which is simply added to the balance over time. Additionally, at the time the mortgage is funded, a processing and appraisal fee will be deducted from your proceeds.
It’s simple – for as long as you wish to stay in your home, no payments are due to Bloom as long as you keep up with your other obligations like maintaining home insurance and paying property tax. When you leave your home – either because you pass away, or move – the loan balance becomes payable. Most borrowers pay for this out of the proceeds from the sale of their home, or by refinancing with another mortgage.
You provide Bloom with some information about yourself and your home. They will let you know how much of your home value you can unlock - up to 55%! A low, friendly interest rate is applied, and interest is simply added to the balance. The balance becomes due when the last homeowner passes away or moves from the home.
