TagHELOC

Reverse Mortgage or a Home Equity Line of Credit?

Seniors looking to tap into their home equity have a few different options available in the marketplace today. These choices include a reverse mortgage as well as a home equity line of credit (HELOC). Both options allow borrowers to access the equity in their homes, but have different features and requirements in order to obtain the loans. Similar to any other mortgage product, both options...

HECM Saver or HELOC

What Are They and What Do You Need to Know For seniors looking to tap into their home’s equity, there are a few different options available in the marketplace today. One of those is a Home Equity Conversion Mortgage (HECM) Saver, and another is a Home Equity Line of Credit (HELOC). The HECM Saver provides many of the same features found in a HELOC—but there are also some differences as well. The...

Turned Down for a HELOC? Unlock Your Home Equity with a Reverse Mortgage

If you’ve been turned down for a traditional home equity line of credit (HELOC), you may still be able to get the money you need by tapping into your home’s equity using a reverse mortgage.  While a HELOC may not be an option for you during these tight credit times, if you’re a homeowner aged 62 or over with sufficient equity in your home, it’s relatively easy to qualify for a reverse mortgage...