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HELOC vs. HECM LOC
The structure of a Home Equity Conversion Mortgage Line of
Credit (HECM LOC) seems similar to a traditional Home Equity
Line of Credit (HELOC) because both are lines of credit secured
against your home. However, there are distinct differences and
the loan that best fits your needs will depend on your particular
situation. Know the differences and find out which one is best
for you. www.aag.expert/AAG110 www.aag.com/legal-
Image 52_Consumer_HELOC vs. HECM information/ www.nmlsconsumeraccess.org NMLS ID: 9392
LOC [INSERT LO NMLS#]
Available to homeowners over the age of 62, a Home Equity
Conversion Mortgage (HECM) line of credit can offer great
advantages in comparison to a Home Equity Line of Credit
(HELOC). Learn the differences and see if you qualify.
www.aag.expert/AAG110 www.aag.com/legal-information/
www.nmlsconsumeraccess.org NMLS ID: 9392 [INSERT LO
NMLS#]
Image 53_Consumer_HELOC vs. HECM
LOC
When preparing for a better retirement, you must decide which
financial plan is best for you. With a HECM Line of Credit loan,
there are no required monthly mortgage payments*, no annual
fees or pre-payment penalties to keep the HECM line of credit
open. Are you prepared for the next golden chapter of your life?
*Borrowers must continue to pay property taxes, homeowners
insurance, and home maintenance costs.
Image 54_Consumer_HELOC vs. HECM www.aag.expert/AAG110 www.aag.com/legal-information/
LOC www.nmlsconsumeraccess.org NMLS ID: 9392 [INSERT LO
NMLS#]
