Provide your borrowers with access to their home equity through a line of credit that adapts to their needs and keeps payments predictable.
Give your borrowers more control over their financing and fund more loans.
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With built‑in caps on monthly payments you can reassure your borrowers they’ll never pay above a set amount even if rates rise. You deliver clarity. EquitySelect makes it simple.
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.
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| 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.
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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.
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