|Type||Maximum Amount||Monthly Payment|
* Mortgage payment assumes best available rates, at least 35%+ equity, no condo fees, a 30-year amortization (25-year optional) and no other debt. If you have existing debt, it’s assumed that you will consolidate it in the financing. All HELOCs require interest-only payments at a minimum, but the Seniors HELOC typically allows you to capitalize the payment so you’re not out of pocket. Payment terms depend on the lender and your qualifications and are subject to change.