HECM Line of Credit
All the benefits of a traditional home equity loan, but with more flexible payment options.
If you're 62 or older, an FHA-insured* Home Equity Conversion Mortgage (HECM) can be a smart retirement financing solution. If you have an existing mortgage, home equity loan or other debt, you could refinance them with a HECM line of credit and greatly reduce your monthly bills, while getting enhanced benefits that aren't available with other loan options — including a flexible payment feature.
Compare a HECM Reverse Mortgage versus a traditional Home Equity Line of Credit (HELOC).
The advantages of a HECM Line of Credit are clear.
Advantage |
Our HECM Line of Credit |
Traditional HELOC | ||
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Converts home equity into funds you can easily access as needed. |
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Federal Housing Administration (FHA) insured loan* |
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No required monthly payment on principal and interest.
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If part of your loan is held in a line of credit, the unused portion of the line of credit will grow in size each month.1 |
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Lender cannot cancel or reduce your line of credit, as long as you meet your loan obligations. |
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You can never owe more than the home is worth when the loan is repaid — known as the non-recourse feature. |
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No pre-defined loan maturity date: Loan remains in force and no principal and interest payments are required until borrowers move, pass away or sell the home, as long as they meet their loan obligations. |
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You can choose to convert the line of credit into a monthly stream of funds at any time in the future. |
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1 The growth rate is equal to the sum of the interest rate plus the annual mortgage insurance premium rate being charged on your loan.

Call me today and see why HECMs are a loan for life.
Mary Alice Cardenas
Reverse Mortgage Specialist, NMLS #468646
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