{
  "name": "Ways to Tap Home Equity in Retirement \u2014 Comparison \u2014 The Equity Ledger",
  "description": "Structured comparison of the main ways to access home equity: reverse mortgage, HELOC, home-equity loan, cash-out refinance, and downsizing.",
  "asOf": "2026-08",
  "source": [
    "HUD/FHA",
    "CFPB",
    "FTC"
  ],
  "creator": "https://theequityledger.com/#org",
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "options": [
    {
      "option": "Reverse mortgage (HECM)",
      "monthlyPaymentRequired": false,
      "minAge": 62,
      "nonRecourse": true,
      "typicalUpfrontCost": "high (2% MIP + origination + closing)",
      "balanceBehavior": "grows over time",
      "bestFor": "age-in-place, no heirs who want the home, eliminate a mortgage payment",
      "keyRisk": "erodes estate; default if taxes/insurance/upkeep lapse"
    },
    {
      "option": "HELOC",
      "monthlyPaymentRequired": true,
      "minAge": null,
      "nonRecourse": false,
      "typicalUpfrontCost": "low",
      "balanceBehavior": "revolving; variable rate",
      "bestFor": "flexible, intermittent borrowing with income to repay",
      "keyRisk": "variable payments; home is collateral"
    },
    {
      "option": "Home-equity loan",
      "monthlyPaymentRequired": true,
      "minAge": null,
      "nonRecourse": false,
      "typicalUpfrontCost": "low-moderate",
      "balanceBehavior": "fixed installment",
      "bestFor": "one-time lump sum with steady income",
      "keyRisk": "fixed monthly obligation; home is collateral"
    },
    {
      "option": "Cash-out refinance",
      "monthlyPaymentRequired": true,
      "minAge": null,
      "nonRecourse": false,
      "typicalUpfrontCost": "moderate-high (closing costs)",
      "balanceBehavior": "resets mortgage",
      "bestFor": "lower existing rate + need cash",
      "keyRisk": "restarts amortization; payment can rise"
    },
    {
      "option": "Downsizing",
      "monthlyPaymentRequired": false,
      "minAge": null,
      "nonRecourse": null,
      "typicalUpfrontCost": "transaction/moving costs",
      "balanceBehavior": "n/a",
      "bestFor": "willing to move; unlock equity without debt",
      "keyRisk": "moving cost/effort; market timing"
    }
  ],
  "disclaimer": "Educational only. Not individual financial advice."
}