HELOC for Seniors Longbridge Financial logo
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Fixed budget?

HELOC For Seniors can help fix that.

Announcing the first and only HELOC designed exclusively for you.

Apply Now
HELOC for seniors program image

Age 62+? Get the HELOC with interest-only payments,
a fixed rate1, and financial flexibility.

Traditional bank HELOCs often come with unpredictable payments and challenges like sudden increases that can double or triple your monthly bill. HELOC for Seniors addresses them head-on with:

Predictable, Reduced Payments

Keep your monthly costs manageable with interest-only payments for life of the loan.2

(as long as you keep current on property taxes, insurance, and maintenance)

Up to $400,000 Cash3
at a Fixed Rate1

Enjoy financial stability without the risk of payment spikes from variable interest rates.

Fast, Online Approval
and Funding

Apply in minutes with our friction-free process—get your funds in as few as 5 days.4

Flexible Qualification Options

Even on a fixed income, you may qualify if you have enough home equity.

And since HELOC For Seniors can be structured as a first or second lien, you don’t need to pay off your existing mortgage to access more equity. Get the cash you need now with interest-only monthly payments and eliminate the worry of payment spikes or surprises down the road.

See For Yourself

Compare HELOC For Seniors to a Traditional Bank HELOC

View Chart
HELOC For Seniors Traditional Bank HELOC
Interest-only monthly payments
Fixed rate on each draw1
Apply in minutes, 100% online
Less-stringent income requirements
Full disbursement at funding
Funding in as few as 5 days4
No in-person appraisal
Automated underwriting
e-Closing option

Unlock a world of financial options.

HELOC For Seniors is designed exclusively to meet your needs, on terms that work for you—from fixing up your home to visiting your family, consolidating your debts to just covering everyday expenses, it can help give you the cash, and the options, you need.

HELOC for senior lock in rate image

It has features that benefit older adults. Because you’ll be paying interest only payments throughout the life of the loan2 and with fixed interest rates,2 you can budget with confidence knowing those payments won’t suddenly increase.

It’s fast and easy: you can complete the 100% online application within 10 minutes—and if it’s approved, expect to receive your funds as soon as five days4 after the approval date. Just click Apply Now to get started—or if you still have questions, call 1-888-642-0246 to speak with a real, live person for help.

It’s based on a few key factors: first, you must be age 62 or older and have a significant amount of equity in your home. Other factors include credit score (680 or higher), debt-to-income ratio (up to 50%), and combined loan-to-value ratio (up to 85%). Single-family homes, duplexes, townhouses, and condos are all eligible, as long as you live in the home as your primary residence. Certain types of properties may not be eligible.

If you have enough home equity built up, you may qualify even on a fixed budget. HELOC For Seniors is a financial solution specifically designed for older adults who’ve worked hard in every stage of life to build equity in their homes—and now you can use it to help finance the next one.

Your loan amount will be largely based on how much home equity you have—from a minimum of $50,000 to a maximum of $400,000.3

Enjoy the option to redraw up to 100% of your credit limit. After paying down to a $0 balance after initial draw of 80%-100%, you may redraw within a 10-year draw period.

At closing, you must take a minimum draw of 80% of the total loan amount, but you can choose a full draw if you wish—and use it any way you like:
  • Make home repairs and upgrades to help you age in place
  • Consolidate high-interest debt into one easy payment
  • Help cover everyday expenses or medical bills
  • Travel to visit family and friends more often
  • Use for a new vehicle or other large purchase

There’s no risk to check your rate and seeing if you qualify will not affect your credit score.5

As with any other home-equity loan, the lender puts a lien against the property to secure the loan. Monthly payments are due on interest only,2 and the loan doesn’t become fully due until you pass away, sell or leave the home, or fail to keep current with property taxes, homeowners’ insurance, and maintenance. You can pre-pay the loan at any time.

A flexible “fix” for your financial needs to help you live life worry-free.

You’ve worked too hard to spend your senior years fretting over finances. With HELOC For Seniors, you can borrow up to $400,0003 using your home equity. It’s the solution you need today for a worry-free tomorrow.

Need more information?
Call 1-888-642-0246
to speak with a helpful Longbridge consultant.

HELOC for seniors page Longbridge logo in footer.
HELOC for seniors footer logo lockup

For licensing information, please go to www.nmlsconsumeraccess.org. Longbridge Financial Home Equity Line is available in AL, AZ, CA, CO, CT, FL, GA, ID, IL, IN, MA, MD, MI, MN, NC, NJ, NV, NY, OH, OR, PA, TN, UT, VA, WA.

Longbridge is a Licensed Mortgage Banker in the State of New York, but this site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in the State of New York will be accepted through this site

For Customer Service or Complaints, email us at loans@longbridge.myfastheloc.com, or call 1-888-642-0246 between Monday-Friday from 6am-4pm PT and Saturday-Sunday from 6am-5pm PT

  1. HELOC For Seniors is an open-end product where a minimum of 80% and up to a maximum of 100% of the full loan amount (less the origination fee and costs) must be drawn at closing. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the 10-year draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw.
  2. You must meet your loan obligations, and stay current with property taxes, insurance, and maintenance.
  3. Loan amounts range from a minimum of $50,000 to a maximum of $400,000. Your maximum loan amount may be lower than $400,000, and will ultimately depend on your home value, lien position, credit profile, verified income amount, and equity available at the time of application. We determine home value and resulting equity through independent data sources and automated valuation models.
  4. Approval may be granted in ten minutes but is ultimately subject to verification of income, employment, and property value, as well as verification that your property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing, or require a waiting period prior to closing.
  5. To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Hang on — stay and get your free quote the easy way.

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