Access your home’s equity, if you qualify, with customizable payment options that suit your lifestyle.
Equity Select gives you more control and options for managing your retirement finances, with minimum monthly payments that adjust based on your balance while keeping your payments manageable.
Click here to view our terms and conditions
This flexibility allows you to access the funds you need with payment options that adjust to your balance. With a built-in cap* on your monthly payment, you will never pay more than a set amount, even if interest rates rise. No surprises. Just a smarter way to borrow, with options designed to work for you. If you are looking for clarity, Equity Select delivers.
*Cap is determined at the time of your application and is based on the payment plan selected.
EquitySelect is built for predictability. With a 40-year capped payment and non-recourse protection, borrowers can move forward knowing exactly what to expect—no matter how the market shifts.
EquitySelect gives you flexibility without compromise. Whether you’re looking to ease cash flow or take a more aggressive paydown, EquitySelect gives you options:
EquitySelect stacks up against FHA Reverse Mortgages and traditional HELOCs, offering a clear comparison of payments, terms, qualifications, and more.
See how EquitySelect stands out with its low-interest payments, extended terms, and borrower-friendly features.
Scroll to the right to see >
| Product |
|
FHA Reverse Mortgage LOC | HELOC |
|---|---|---|---|
| Minimum Payments | As low as an annual 1% | Optional | Interest Only the first 5-10 years (then principal and interest) |
| Term | 40 Years | N/A | 15-30 years |
| Pre-payment Penalty | None | None | Pre-payment penalties can be charged in some cases - make sure to ask your lender |
| Counseling | Online Video | HUD-approved in-person or over the phone counseling required | None |
| Qualifications | First position loan and must be primary residence and have equity | First position loan and must be a homeowner age 62+ and use the home as primary residence and have equity | Second position loan and qualify based on credit score and income |
| Credit Requirements | 650 | Must prove ongoing expenses can be paid | Based on lenders requirements |
| Annual Fees | None | Ongoing FHA annual insurance | Annual fee to keep the loan open |
Interest Rate is based on Secured Overnight Financing Rate (SOFR) Index + Margin (APR). APR excludes loan fees, points and similar charges relating to opening, renewing, or continuing the account.
EquitySelect offers unmatched flexibility with payment options as low as 1% of your loan balance and a 40-year term that won’t recast. With no prepayment penalties and a protected line of credit, you can access your home’s equity on your terms.
This is the starting point of your EquitySelect HELOC journey. You complete an application with details about your financial situation and property. You also watch a product explainer video to learn how the EquitySelect HELOC works, followed by signing an acknowledgment to confirm you have reviewed the terms.
At this stage, a property appraisal is scheduled to determine the current market value of your home, ensuring it meets the requirements for the EquitySelect HELOC. Additionally, a title search is conducted to verify there are no liens or issues with your property ownership that could impact your loan.
Your application and supporting documents are submitted to the underwriting team. They carefully review your financial information, property value, and other relevant factors to ensure you meet the eligibility criteria for the EquitySelect HELOC.
Congratulations! Your EquitySelect HELOC application is approved. This means the lender confirms you meet the qualifications. You receive a formal approval notification outlining the terms of your loan.
Before moving to closing, you may need to provide additional documentation or address specific conditions required by the lender, such as proof of insurance or updated financial records. Once these are resolved, you are ready to move forward.
You meet with a notary or closing agent to sign the final loan documents and review all terms of your EquitySelect HELOC. This step finalizes the agreement between you and the lender, and any closing costs are outlined here.
After closing, the EquitySelect HELOC funds become available to you. You can now access your line of credit and use it as needed for your planned expenses or projects.
By submitting my information through this site, I authorize HighTechLending Inc doing business as American Senior Lending to contact me by email or telephone and/or mobile device (including SMS and MMS text messages) at the number provided through the use of an automatic telephone dialing system or an artificial or prerecorded voice about an inquiry, any application submitted, loan or account, and/or regarding products, services, or promotions available. I authorize HighTechLending Inc doing business as American Senior Lending to contact me even if the telephone number provided is currently listed on a corporate, state, and/or federal Do-Not-Call list(s). I understand that I am not required to give my consent as a condition of purchasing any goods or services from HighTechLending Inc doing business as American Senior Lending. I may revoke my consent at any time. To revoke my consent with HighTechLending Inc doing business as American Senior Lending I can contact marketing@americansenior.com. I understand that messaging and data rates may apply.
For more information, please visit our privacy policy. Message frequency varies per user. Message and data rates may apply. Text HELP for help. Text STOP to unsubscribe. Carriers are not liable for delayed or undelivered messages.
We understand that you may have questions about our loan products and services. To help you get the information you need quickly, we’ve compiled a list of the most frequently asked questions. Browse through the answers below or contact our team for further assistance.
We uphold the highest standards of honesty and transparency in all our dealings. Trust is the foundation of our relationship with clients, and we are committed to earning and maintaining it every day.
Our clients are at the heart of everything we do. We strive to understand your needs and provide tailored solutions that truly meet your financial goals.
We are dedicated to delivering top-notch services and innovative solutions. Our pursuit of excellence drives us to continuously improve and exceed your expectations.
We are dedicated to delivering top-notch services and innovative solutions. Our pursuit of excellence drives us to continuously improve and exceed your expectations.
*Cap is determined at the time of your application and is based on the payment plan selected.
Corporate Headquarters
