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Line of Credit
Image 39_Consumer_Line of Credit
When people hear the definition of a Home Equity Conversion Mortgage Line of Credit (HECM LOC) they
are sometimes unsure how it differs from a traditional Home Equity Line of Credit (HELOC.) Both are
similar and are lines of credit secured by your home, however the HECM LOC has no monthly mortgage
payments. (Borrowers must continue to pay property taxes, homeowners insurance, and home
maintenance costs.) www.bit.ly/2IUrN1q www.aag.com/legal-information/
www.nmlsconsumeraccess.org NMLS ID: 9392 [INSERT LO NMLS#]
Image 40_Consumer_Line of Credit
When older Americans obtain an AAG reverse mortgage, several options are available to them such as a
line of credit. A line of credit is a certain credit limit given to the borrower that they can draw against as
they choose, over the duration of the loan. And it grows over time. It can provide seniors the financial
freedom they deserve. www.aag.expert/AAG110 www.aag.com/legal-information/
www.nmlsconsumeraccess.org NMLS ID: 9392 [INSERT LO NMLS#]
