Introducing EquitySelect,
the most flexible line of
credit ever created.
Relax, your home’s helping.
- Easier Qualification Standards
- Low Flexible Payment Options
- Built-In Monthly Payment Cap
The Difference with EquitySelect
Traditional
Bank HELOC
Qualified for $33,000
Payment: $260
Qualified for $200,000
Capped Monthly Payment of: $260
The above scenario is based on the following:
Age: 74
Current home value: $950,000
Current mortgage balance: $250,000
Current total mortgage payment: $1,979
Monthly income: $4,500
Until now, the ones who need it most, retirees, often had the hardest time accessing their home equity.
Fixed incomes, rising expenses, and tight lending rules have left many retirees without the financial flexibility they need.
The EquitySelect loan program changes that for some, offering another way to borrow against your home.
EquitySelect is unlike any other loan.
Designed to say Yes:
- Strict debt-to-income ratios work against too many seniors
- EquitySelect was created to help with more inclusive underwriting
Monthly repayment that flexes:
- It’s up to you. Choose a monthly payment plan that fits your needs*
- Monthly payments as low as an annualized 1% of the loan*
Rely on predictable capped monthly payments:
- Each loan has a lifetime monthly payment cap
- Monthly payments cannot exceed it, regardless of :
- Interest rate increase
- Accessing your full line of credit
- Paying less than full interest over time
Never own more than your home:
- Unlike traditional HELOCs, Equity Select is a nonrecourse loan.
- You and your heirs will never owe more than the value of your home.
*A minimum payment is required. If the monthly payment does not cover the monthly interest due, any deficiency will be added to the loan balance which will result in a balloon payment when the loan term ends or when paid off, if earlier.
Saving thousands on monthly mortgage payments.
One of our recent clients who obtained an EquitySelect line of credit, was juggling a first mortgage, a HELOC, and high-interest debt, totaling over $4,400/month in payments.
By consolidating everything into a single EquitySelect loan, their monthly mortgage payment dropped to under $500 and even if they draw an additional $147,000 available through the loan, their monthly payment will stay under $950, for the next 40 years.
That means they’ve unlocked a lump sum of equity, secured a predictable, capped monthly payment plan, and are now saving over $3,000 every month, money they can use for retirement, home improvements, or simply peace of mind.
If the monthly payment does not cover the monthly interest due, any deficiency will be added to the loan balance which will result in a balloon payment when the loan term ends or is paid off, whichever is earlier.
Frequently Asked Questions
Can I really consolidate all my debts into one loan?
Yes, we can combine your mortgage, credit cards, personal loans, and more into a single payment.
What if my credit score isn t perfect?
EquitySelect looks beyond just your credit score, and you may still qualify even if other lenders say no.
Will this lower my interest rates?
In many cases, yes, especially if you’re carrying high-interest credit card or personal loan debt.
The rules of home equity have been much more rigid, until now. If you qualify, the EquitySelect HELOC may help you keep you in your home, and live better in it.
Pay Off High Interest Credit Cards
Fund Long-Term
Care
Help a Family
Member
Supplement Retirement Income
Take Your Dream Vacation
Home
Improvements
EQUITYSELECT MAKES IT EASIER TO QUALIFY
- Easier Qualification Standards
- Flexible Monthly Payment Options
- Built In Monthly Payment Cap
Stop Overpaying on Debt Every Month.
See how much you could save by consolidating your debt with EquitySelect.
Corporate headquaters
American Senior Lending – NMLS #7147
2030 Main St. #500
Irvine, CA 92614
866-801-0501
(Not for use by New York borrowers)
ACT@americansenior.com
Affiliations
Compliance
