Home Equity Retirement Income Loan
If adding to your income is your goal and you're 62 or older,* you may be interested in Amboy's Home Equity Retirement Income Loan. You use the equity in your home to receive monthly income payments. Plus, with this loan you can set up a small line of credit to have money when you need it.
If your goal is to plan for the future by having funds available when you need them, you can simply write a check from your Line of Credit.
Increase Your Retirement Income
Receive monthly payments and have cash available while preserving your savings.
You make payments if and when you want, or wait until you leave your home.
Save money on upfront costs compared to other programs. Any upfront costs can be financed as part of the loan.
Not Sure Which In-Retirement Loan is Right for You?
Amboy Bank offers a variety of In-Retirement Home Equity Loans, and we know it can be difficult to sort out all the details. Learn more about our other in-retirement loan options below, or contact us and let our experts guide you!
A great option for those with moderate borrowing needs. With no closing costs, it still has all the benefits of an in-retirement loan.
- Line of credit up to $50,000 or 33% of home value*
- No closing costs
- Easy, everyday access - Just write a check
- Pay back, if and when you want
How people use: Update bath or kitchen, pay taxes, pay off credit cards
Ideal for those with bigger borrowing needs, our Prime Line of Credit can provide immediate relief or be available for future needs.
- Line of credit up to 55% of home value
- Easy, everyday access - Just write a check
- Pay back, if and when you want
How people use: Pay off mortgage, set aside for taxes, in-home help
Offers a fixed rate and the option to receive your funds in a lump sum.
- Fixed loan up to $50,000 or 33% of home value*
- The full amount is provided at closing
- Loan rate is fixed at the time of origination
- Pay back, if and when you want
25 Ways to Use Your Home's Equity
There are many ways that tapping into your home's equity can help you. Learn how our In-Retirement Loans can get you the funds you need.
Other Retirement Needs
Terms & Disclosures* Dependent on age of youngest borrower, loan to value, income, and other factors. Home value is capped at $822,000.