Today's Cash. Tomorrow's Equity

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 No Monthly Mortgage Payment Doesn't Mean No Cost

That's an important distinction when accessing home equity.

A Home Equity Investment (HEI) and a reverse second mortgage may both allow qualified homeowners to access equity without refinancing their existing first mortgage — and without adding a required monthly principal-and-interest payment.

But the long-term costs develop very differently.

With a reverse second:

 It's a loan
 Interest accrues
 The balance can grow over time if voluntary payments aren't made

With an HEI:

 It's not a traditional loan
 There's no traditional interest-bearing balance
 The eventual settlement is tied to the home's future value according to the agreement

There are also traditional HELOCs, home equity loans and other second-mortgage options that may ultimately be a better choice depending on your circumstances.

The goal shouldn't be finding the program that gives you the most money today.

It should be finding the option whose benefits, costs and tradeoffs best fit what you're trying to accomplish.

 Rob Clark | Home Loan Consultant
209-227-7745 | 559-476-9279
 rbrtclark53@gmail.com
 robertclarkloans.com

Advertising Disclosure: This information is for educational purposes only and is not a commitment to lend or offer of credit. Programs, terms, costs, eligibility requirements and availability are subject to change. Home Equity Investments are not traditional loans and may reduce future equity. Reverse second mortgages are loans and accrue interest. Other home-equity financing may require monthly payments.

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