Program Highlights:
- Access home equity with interest‑only payments, fixed rates per draw, and no required payoff until the home is sold
- 10‑year draw period with up to 25 total draws
- 80% minimum draw at closing
- Loan amount up to $400,000
- Interest‑only monthly payments; principal repaid when the home is sold
- Equity limit: Up to 75% CLTV
- No appraisal required (AVM or BPO used)
- Primary residence only
- Borrower must be 62 or older