Does my line of credit grow?

Yes. The available Line of Credit (LOC) for a HECM reverse mortgage grows at the interest rate plus 0.5%. However, only the available LOC grows. Therefore, a client that borrows every penny from their LOC will not see an increase. Read more about the line of credit that grows.

We also have a proprietary product, HomeSafe Select, that the unused portion of the LOC will grow at the current rate.