Are HECMs the Ultimate HELOC Alternative? - Skip to content

Are HECMs the Ultimate HELOC Alternative?

are HELOCs guaranteed?

Access to a HELOC is NOT guaranteed. What about a HECM?

Last week the average $30,000 HELOC or home equity line of credit loan was 7.32%. Keep in mind those were the averages before the Federal Reserve hiked its short-term rates another 75 basis points in the first week of this month. Vikram Gupta, executive vice president and head of home equity at PNC Bank told Time, “The home equity product is still great to have. So, if you can qualify for one now, I recommend doing it because things are only going to get worse. You might not be able to qualify for it six months from now”. What Mr. Gupta fails to mention is that you may qualify for a HELOC today, only to have your credit line frozen or reduced at the lender’s discretion in the future.

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Editor in Chief:
As a prominent commentator and Editor in Chief at, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
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