Senior Equity Loans

Good news for our seniors: If you’re 62 or older, you can use the equity in your home to supplement your income. Whether you need funds for day-to-day living expenses, home repairs, or unexpected emergencies, we have a solution that works for you.

Key Benefits:

• Flexible Usage: Use the funds for daily expenses, home renovations, medical bills, or any other needs.
• No Monthly Payments: You don’t have to worry about monthly payments, giving you peace of mind.
• Primary Residence Requirement: This loan must be tied to your primary residence, ensuring that your home remains your home.

Each situation is unique, so we encourage you to contact a Real Estate Loan Consultant for personalized assistance and to explore how this loan can meet your specific needs.

Loan Features:

Ready to explore your options? Our Real Estate Loan Consultants are here to help you understand how a Senior Equity Loan can work for you. Reach out today for a free consultation.

• Term Length: 20-year loan term, providing a structured timeframe.
• Loan-to-Value (LTV) Ratio: Maximum LTV of 65%. This means you can borrow up to 65% of your home’s appraised value.
• Loan Amount:
  • Minimum: $50,000
  • Maximum: $970,800
• Interest Rate Details:
  • Adjustable Rate: The interest rate is subject to change every six months.
  • Rate Cap: The interest rate can’t increase or decrease by more than 1% on any change date.
  • Lifetime Cap: The maximum lifetime interest rate is limited to your initial rate plus 6%.

Important Considerations:

• 20-Year Term: After 20 years, the loan will mature. At that time, repayment of the loan balance will be required, typically through the sale of the home, refinancing, or other arrangements.
• Loan Repayment: The loan is usually repaid when you sell the home, move out permanently, or pass away. Any remaining equity after the loan repayment belongs to you or your heirs.
• Eligibility: You must be at least 62 years old.
• Available on California and Idaho properties only.

Contact Us Today!

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Ready to explore your options? Our Real Estate Loan Consultants are here to help you understand how a Senior Equity Loan can work for you. Reach out today for a free consultation.