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Reverse Mortgage Line of Credit vs. HELOC

Knowing your home equity options can make it easier to support retirement, manage medical expenses, and handle everyday costs.

Feature
Reverse Mortgage LOC
HELOC
Minimum Age Requirement 55+ None
Minimum credit score None 680
Monthly payment required No Yes
Can be frozen or reduced No Yes
Borrower still owns home Borrower still owns home Yes
Has a set term No Yes
Repayment When borrower moves, sells, or passes away Monthly payments
Unused line of credit grows over time Yes No

*Age requirements vary by product and state. Programs vary by state and are subject to change at any time.