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HousingWire: Record Senior Home Equity is Fueling Demand for New Solutions

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Older Americans hold substantial home equity, built over decades of steady homeownership. With refinancing opportunities limited and mortgage rates still high, this equity has become one of the strongest sources of financial security for retirees and those on fixed incomes.

For many older homeowners, tapping into that equity can help cover home repairs, medical care, or everyday expenses. Reverse mortgages remain a trusted option with many strong advantages, while traditional home equity line of credit (HELOC) products can be less senior-friendly, often requiring higher income, carrying variable rates, and leaving borrowers exposed to unpredictable payment spikes.

That’s why Longbridge Financial, powered by the technology of Figure Technology Solutions, introduced HELOC For Seniors®—the first HELOC designed specifically for homeowners age 62 and older. With a fixed-rate per draw,1 interest-only payments,2 and a streamlined digital application process, HELOC For Seniors® offers a combination of stability and speed—giving older homeowners a solution they can feel confident using to support their financial future.

With home equity remaining high, and a steady demand for responsible ways to access it, HELOC For Seniors® adds another powerful option to the toolkit. Together with trusted options like reverse mortgages, this product helps the industry better serve older Americans by turning housing wealth into financial resilience.

Read the full HousingWire article to learn more about why this product matters for today’s older homeowners.

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.

It's time to explore a new way to unlock financial flexibility and peace of mind.

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*To check 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.

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