Solutions that match your goals.
Find the right reverse mortgage option to fit your unique needs.
 |  |  | |
|---|---|---|---|
| Loan type | Standard reverse mortgage | Jumbo reverse mortgage | Reverse second mortgage |
| Common uses | Eliminating monthly mortgage payments² & supplementing income | Accessing home equity from higher-value homes | Tapping equity without paying off or refinancing first mortgage |
| Loan limits | Loan limits vary by home value, up to $1.2 million | Up to $4 million⁶ | Up to $1 million |
| Funds disbursement | Lump sum payout, tenure and term payments, line of credit | Lump sum payout, line of credit option with HomeSafe Select | Lump sum payout |
| Monthly payments? | No² | ||
| Interest rate | Fixed or variable rate options | Fixed or variable rate options | Fixed rate |
| Age requirement | 62+ | 55+⁷ | 55+⁷ |
| Credit score requirements | No minimum; full credit review required | No minimum; full credit review required | Minimum FICO 640; full credit review required if FICO <720 |
| Non-recourse protections? | Yes, the borrower (or heirs) never owe more than the home’s value at the time of repayment.⁸ | ||
| Loan repayment | The loan is typically due when the borrower leaves the home, passes away, or fails to comply with the loan terms. | ||
²The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
Solutions that match your goals.
Find the right reverse mortgage option to fit your unique needs.
| HELOC | Personal loan | |
|---|---|---|---|
| Loan type | Standard reverse mortgage | Jumbo reverse mortgage | Reverse second mortgage |
| Common uses | Eliminating monthly mortgage payments² & supplementing income | Accessing home equity from higher-value homes | Tapping equity without paying off or refinancing first mortgage |
| Loan limits | Loan limits vary by home value, up to $1.2 million | Up to $4 million⁶ | Up to $1 million |
| Funds disbursement | Lump sum payout, tenure and term payments, line of credit | Lump sum payout, line of credit option with HomeSafe Select | Lump sum payout |
| Monthly payments? | No² | ||
| Interest rate | Fixed or variable rate options | Fixed or variable rate options | Fixed rate |
| Age requirement | 62+ | 55+⁷ | 55+⁷ |
| Credit score requirements | No minimum; full credit review required | No minimum; full credit review required | Minimum FICO 640; full credit review required if FICO <720 |
| Non-recourse protections? | Yes, the borrower (or heirs) never owe more than the home’s value at the time of repayment.⁸ | ||
| Loan repayment | The loan is typically due when the borrower leaves the home, passes away, or fails to comply with the loan terms. | ||
