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 a fixed-rate1 HELOC that
gives you financial flexibility.

Interest-only Payments2

No payment increases—as long as you live in your home, you pay on interest only.

(Keeping up with property taxes, insurance, and maintenance is required)

Fixed Interest Rate1

Lock in your payment and budget with long-term confidence, on a fixed budget.

Online Support
and Video Notary

The entire process can be done from your home. Can’t do video? We’ll come to you.

Fast Approval
and Funding

Apply in minutes with our friction-free process—get your funds in as few as 5 days.3

See For Yourself

Compare HELOC For Seniors to a Traditional Bank HELOC

View Chart
HELOC For Seniors Traditional Bank HELOC
Fixed rate1
Low, interest-only monthly payments2
Apply in minutes, 100% online
Less-stringent income requirements
Full disbursement
Funding in as few as 5 days3
No in-person appraisal
Automated underwriting
e-Closing option
No set repayment deadline

Lock in your rate—and unlock a world of financial options.

HELOC For Seniors is designed exclusively to meet your needs at this time in your life—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 on interest only,2 your monthly payments may be lower than with a bank HELOC—and with a fixed interest rate,1 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 days after the approval date. Just click Apply Now to get started—or if you still have questions, call 1-800-000-0000 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. Others include credit score (640 or higher), debt-to-income ratio (up to 50%), and combined loan-to-value ratio (up to 85%). Single-family homes, townhouses, and condos are all eligible, as long as you live in the home as your primary residence.

If you have enough home equity built up, you may qualify even on a fixed income. 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 $25,000 to a maximum of $400,000.4

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 $400,0004 using your home equity. With enough equity, you may still qualify for HELOC For Seniors, even on a fixed budget. It’s the solution you need today for a worry-free tomorrow.

Need more information?
Call 1-800-000-000
to speak with a helpful Longbridge consultant.

HELOC for seniors page Longbridge logo in footer.
HELOC for seniors footer logo lockup
  1. HELOC For Seniors is an open-end product where a minimum of 80% of the full loan amount (minus the origination fee) will 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 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 by keeping current with property taxes, insurance, and maintenance.
  3. Approval may be granted in ten minutes but is ultimately subject to verification of income and employment, 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.
  4. Loan amounts range from a minimum of $15,000 to a maximum of $400,000. For properties located in AK, the minimum loan amount is $25,001 and for properties located in TX, the minimum loan amount is $35,000. 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.
  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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