Frequently Asked Questions

What is a HELOC?

A HELOC (Home Equity Line of Credit) is a revolving line of credit secured by your home. You can draw, repay, and redraw during the draw period, typically 10 years. After that, the repayment period begins and you can no longer borrow.

How is a reverse mortgage different from a HELOC?

A reverse mortgage requires no monthly payments. The loan balance grows over time and comes due when you sell, move out permanently, or die. A HELOC requires monthly payments and has a fixed term. Reverse mortgages are available only to homeowners aged 62 and older.

Are the calculators free to use?

Yes. All calculators on EquityUnlock.org are free. Your data stays in your browser; we do not store your inputs.

Do you sell loans or take commissions?

No. We do not originate loans or take commissions from lenders. We provide educational tools and content only.

Is my information secure?

Yes. All calculations happen locally in your browser. We do not collect or store your financial data on our servers.

Who writes the articles?

Articles are written by Margaret Sullivan, a CFP and former mortgage underwriting supervisor with 22 years of experience in home equity lending.

Can I get personalized advice?

We do not offer one-on-one financial advice. For personalized guidance, consult a licensed CFP, HUD-approved reverse mortgage counselor, or real estate attorney in your area.