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In-Retirement Loans

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Amboy Bank set out to create a better reverse mortgage, and we succeeded with our suite of Home Equity Retirement Loans. Use your home’s equity for improvements, medical bills, consolidate debt, or make up for a cash shortfall. Our Home Equity Retirement Loans allow you to make payments when you want, or not at all. You and your heirs will never owe more than your home is worth. Whether you have a short term need or want to improve the quality of your life, one of our loans can help.  

For all Home Equity Retirement Loans, you must own your home and occupy it as your main residence, and all homeowners must be 62 or older.*

Available features and benefits:**

Stay in your own home
No payments required
No credit score required
All loans are held and serviced by Amboy
Local, quick decisioning
Digital Banking, including mobile app
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Senior Choice Home Equity

Our Senior Choice Home Equity is a great option for those with short term or modest borrowing needs.

  • Line of credit up to 33% of home value, capped at $50,000*
  • No closing costs
  • Lock in a fixed rate when you want
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Retirement Line of Credit

Ideal for those with longer term needs, our Prime Line of Credit is available when you need it, or it can come to you in the form of an automatic distribution.

  • Line of credit up to 55% of home value*
  • Access the line as you need it, or set up regular distributions
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Home Equity Retirement Income Loan

Offers you access to a substantial amount of cash as a lump sum or as automatic distributions to you.

  • Line of credit up to 55% of home value*
  • Take as a lump sum, set up regular distributions, or use as needed
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Fixed Rate Reverse Mortgage

Would you rather have a fixed rate, or do you prefer to receive your funds in a lump sum?

  • Fixed loan up to 33% of home value, capped at $50,000*
  • No closing costs
Terms & Disclosures * Dependent on age of youngest borrower, loan to value, income, and other factors. Home value is capped at $822,000.

** Fees or restrictions may apply depending on your account type and relationship. Please see our General Service Fees and Account Disclosures for complete information.