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Refinance With a HECM LOC

The Joneses have some retirement savings, but they are unsure if their funds will last. They have friends who’ve leveraged equity for peace of mind and want to learn more.

  1. Home Value: $400,000
  2. Payoff: $100,000
  3. Youngest Borrower Age: 75
  4. Available Line of Credit today: $121,200
  5. Available Line of Credit in 10 years: $175,450
This example shows how a HECM can improve their cash flow and supplement their savings. They will remove their monthly mortgage payment and receive a substantial line of credit that can be used whenever they need extra funds.