Tapping Your Home Equity: HELOCs and the Retirement Mortgage

Most homeowners are sitting on more equity than ever and aren’t using it. If you need cash for a renovation, to pay down debt or to supplement retirement income, there’s likely a way to put that equity to work.

Need a HELOC? We can help

Summit Mortgage offers a wide range of home equity line of credit products, including lines of credit for homeowners 55 and older with no required monthly payments. Draw what you need, when you need it.

The Retirement Mortgage

Our Retirement Mortgage lets you make the most of your home equity as part of your retirement strategy. Unlike IRA distributions, which are taxed as income, money you receive from a Retirement Mortgage is loan proceeds and generally isn’t taxable. Confirm how it applies to you with your tax professional.

What to know about the Retirement Mortgage

• You remain the owner of your home and must keep paying property taxes, homeowners insurance and maintenance.
• The loan balance grows over time and is repaid when you sell, move out or pass away.
• The right product depends on your age, income and plans for the home.

Bill consolidation, too

We’re completing a bill consolidation loan for a client in Newbury Park that’s going to save them $1,422 a month. If you’d like to see what your equity can do, call me…

Examples are for illustration only and are not a rate quote, a commitment to lend or an offer of credit. Rates, terms and eligibility vary.

Originally published in The Trusted Advisor, October 2026.