Home Equity Solutions
Designed to meet the needs of more people.
Longbridge Financial is committed to helping you find the right home equity solution, based on your unique needs and retirement goals. Explore the possibilities, including how much money you may receive, by contacting us at:
Reverse Mortgage Inquiries: 855-523-4326
HELOC For Seniors™ Inquiries: 844-243-9935
An innovative HELOC designed with older homeowners in mind—without the worry of large payment spikes in the future:
- Reduced, interest-only payments: Keep monthly costs manageable throughout the life of the loan, as long as property taxes, insurance, and home maintenance are up to date.
- Up to $400,0001 at a fixed rate per draw2: Benefit from fixed interest on each draw, ensuring financial stability and predictability.
- Fast approvals and flexible qualifications: Complete the application process entirely online with funding in as few as five business days.3 Seniors with sufficient equity and assets can qualify, even on fixed incomes.
- Open-ended line of credit: Access funds with an initial draw of at least 80%, reserve the rest for future needs, and redraw paid-down principal within a 10-year draw period.
HELOC For Seniors™ is available to California homeowners aged 62+ exclusively through Longbridge Financial, offering the cash you need today—and peace of mind for the future.
Looking to buy a home that better suits your needs?
A HECM for Purchase reverse mortgage allows you to use your home equity to purchase a new property without requiring monthly mortgage payments (as long as property taxes, insurance, and maintenance are maintained).
The standard HECM reverse mortgage allows older homeowners to access their home equity with a fixed or variable interest rate. Based on your financial needs, you can receive your cash:
- As an upfront lump sum: Typically, up to 60% of the available proceeds.
- As monthly payments: Providing consistent supplemental income over time.
- As a line of credit4: Use funds as needed for flexibility and control.
You can also combine these options, such as taking an initial lump sum and reserving the rest as a line of credit.
For homeowners with high-value properties or condos, the Longbridge Platinum Mortgage offers a non-government, proprietary reverse mortgage program. Compared to a standard HECM reverse mortgage, Platinum provides:
- More available cash: Unlock a greater portion of your home’s value
- Lower upfront costs: Save on initial expenses
Longbridge Platinum is tailored to meet the needs of eligible borrowers as young as 55.5
- 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.
- 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.
- 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.
- Line of credit option is only available for adjustable rate HECM products.
- Available to borrowers as young as 55 in select states only. Higher minimum age requirements may apply.
Longbridge Platinum Reverse Mortgage (“Platinum”) is Longbridge Financial, LLC’s proprietary loan program and is not affiliated with the Home Equity Conversion Mortgage (HECM) loan program, which is insured by FHA. Platinum is available to qualified borrowers who also may be eligible for FHA’s HECM program or are seeking loan proceeds that are higher than FHA’s HECM program limit. Platinum currently is available only for eligible properties in select states. Please contact your loan originator to see if it is currently available in your state.