You could sell it or you could borrow against your home equity.
You could sell it or you could borrow against your home equity. Equity Choice is a value-added feature that is available on all three Cash Account Plan options. It used to be that if you were age 62 or older, there were only two ways to get cash out of your home. What is the Equity Choice feature? How will it benefit me?A. It allows the borrower to limit the loan obligation to a stated percentage of the full-market value of the home. Cash Account Advantage provides the borrower with a higher available loan amount and a lower interest rate. Zero Point Option, and the Simply Zero Option which eliminates up-front fees.
Deposit interest rate plus margin and is adjusted monthly. This means the amount of the loan or the line of credit may be less than the amount for which borrower otherwise qualifies. In addition, there is no equity or appreciation sharing and no maturity fee.