When All is Said and Done, Enjoying your Retirement

​​A reverse mortgage is a type of loan for seniors, while a home equity line of credit (HELOC) is a line of credit available to homeowners of any age. A reverse mortgage line of credit is an option available with a government-backed reverse mortgage (HECM) that has distinct features separating it from a traditional HELOC. 

A reverse mortgage allows senior homeowners to convert a portion of their home's equity into cash without having to make monthly mortgage payments. The loan amount is repaid when the borrower dies, sells the home, or moves out permanently. ​

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Reverse mortgages do not have traditional income requirements, but lenders perform a financial assessment to ensure you can cover ongoing property expenses like taxes and insurance. This assessment focuses on your residual income, which is the amount of money left after paying your monthly obligations.

​- Access to cash without selling.

- No monthly payments.

- Tax free proceeds.

- Secure access- cannot be cancelled by lender.

- Growing line of credit.

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​- Access to cash without selling.

- No monthly payments.

- Tax free proceeds.

- Protects heirs from debt.

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 A company provides you with a lump sum in exchange for a share of your home’s future appreciation. There are no monthly payments, but the cost can be high if your home's value increases significantly.