Different than a reverse mortgage.
More than just a HELOC
Meet EquitySelect — a product designed with you in mind. No age restrictions, flexible payments, and a qualification process built to give you access to more of what you've already built.
These aren't marketing claims — they're structural features built into every EquitySelect loan.
You don't have to wait until 55 or 62 to access your equity. EquitySelect is available starting at age 18. Your equity is yours — regardless of where you are in life.
Select from five payment plans — 1% to 5% of your balance annually. Your payment cap is fixed for the life of the loan and never changes, even if rates rise.
Traditional HELOCs qualify you on the full interest-only payment. EquitySelect uses the lifetime cap payment instead. That one difference can mean the difference between denied and approved.
Unlike a reverse mortgage line that doesn't replenish, EquitySelect is a true revolving credit line. Draw what you need, pay it down, and access it again during your draw period — 7 years for a 1st lien, 5 years for a 2nd lien.
Your home is the only collateral. You — and your heirs — will never personally owe more than what the home sells for. The lender absorbs any shortfall. No exceptions.
When the draw period ends, your payment stays exactly the same for the life of the loan. No recast, no surprise increases — ever. Your cap is set at closing and locked in permanently.
The HELOC qualifies you on the full interest-only payment — a number most people can't pass. EquitySelect qualifies you on the capped payment. Same home. Same equity. Completely different outcome.
Example based on a $300,000 line of credit at the 1% payment plan. HELOC payment reflects interest-only at Prime + margin and will vary with market rates. EquitySelect figures use a 10% qualifying rate. The 1% and 2% payment plans are available to borrowers age 60 and older; the 3%, 4%, and 5% plans are available starting at age 55. For illustration only. Not a commitment to lend.
About EquitySelect: EquitySelect is a home equity line of credit (HELOC) mortgage loan. Monthly payments may not cover all accrued interest, and unpaid interest is added to the balance, resulting in a balloon payment at the end of the term or upon payoff. Minimum payment amounts can vary based on the outstanding loan balance. There is a required minimum initial draw of $75,000 or 50% of the credit line for 1st-liens (80% for 2nd-liens), whichever is greater. The draw period lasts seven years for 1st liens (five years for 2nd liens), and no additional draws can be made after that. 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.
Product: EquitySelect is a home equity line of credit (HELOC) mortgage loan with a 40-year balloon term. Monthly payments may not cover all accrued interest. Unpaid interest is added to the outstanding balance, which may increase over time — this is negative amortization. EquitySelect is a non-recourse loan: repayment is limited to the value of the home, and neither the borrower nor their heirs will personally owe more than the home's sale proceeds.
Payments: Your payment cap is set at origination and fixed for the life of the loan with no recast. There is no prepayment penalty. A required minimum initial draw of $75,000 or 50% of the credit line applies for 1st liens (80% for 2nd liens), whichever is greater.
Estimates: All figures shown on this website are estimates based on information provided and do not constitute a commitment to lend. Actual loan terms are subject to underwriting review, property appraisal, credit approval, and eligibility requirements.
Availability: Currently available in AZ, CA, CO, FL, GA, ID, NC, NJ, NV, OH, OR, SC, and UT. Not available in all states.
Licensing: HighTechLending, Inc. NMLS #7147. HighTechLending, Inc. does business as American Senior Lending in certain states. Equal Housing Lender. 2030 Main St. #500, Irvine, CA 92614.
Both products help homeowners access equity. But they work very differently — and the right one depends on your goals.
EquitySelect gives you access to your equity through a flexible line of credit. Draw what you need, choose a payment plan at closing, and build from there.
A reverse mortgage lets homeowners access equity without making monthly principal-and-interest payments. The balance grows over time and is repaid when the home is sold or the borrower passes.