Retirement Line of Credit
Using your home's equity, you have access to a substantial amount of cash without having to use your savings or other assets. Plus, there are no payments until you leave your home.
If you own a home and are 62 years of age or older,* use a Retirement Line of Credit to plan for the future. Have funds available when you need them.
Have Cash Ready When You Need It
Set up a line of credit and use as you need it. 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
Sometimes managing your finances is easier when you know your monthly income. The HERIL converts your home's equity into ongoing income for as long as you live in the house.
- Receive regular monthly income for as long as you live in your home
- Have a small equity line available for emergency needs
- Loan up to 55% of home value*
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.