A line of credit with reverse-mortgage features.
For homeowners who meet the applicable age, equity, occupancy and program requirements, a reverse-mortgage line of credit can provide access to home equity without the required monthly principal-and-interest payment structure of a traditional HELOC. You still own the home, and you remain responsible for property taxes, homeowners insurance, maintenance and other applicable property charges and loan obligations.
Program availability, age requirements, line growth features, draw rules, rates, fees and repayment terms vary. This page is educational and is not a commitment to lend.
Questions homeowners ask
What is a Reverse HELOC?+
A Reverse HELOC is a home-equity line designed for eligible older homeowners. Depending on the program, borrowers may access available equity over time rather than taking all proceeds at closing.
Do I have to make monthly mortgage payments on a Reverse HELOC?+
Eligible reverse-mortgage line-of-credit programs generally do not require monthly principal-and-interest payments. Borrowers may choose to make voluntary payments. Property taxes, homeowners insurance, property charges, maintenance and other loan obligations must still be kept current.
Is a Reverse HELOC the same as a traditional HELOC?+
No. A traditional HELOC generally requires monthly payments and qualification under traditional home-equity guidelines. Reverse-mortgage lines are structured differently and have age, equity, property and program requirements.
Can I keep the line available for future needs?+
Some reverse-mortgage programs provide a line-of-credit feature that allows eligible borrowers to draw available funds as needed, subject to the specific program terms and remaining line availability.
Who may qualify?+
Eligibility depends on the specific program and can include borrower age, home equity, property type, occupancy, financial assessment and other lender or program requirements. CTC Equity can compare available options for your scenario.