New home equity solution combines monthly payment choice, lifetime caps, and nonrecourse protections to help homeowners build financial flexibility in retirement
IRVINE, Calif., Sept. 17, 2025 /PRNewswire/ — American Senior Lending, a national home equity solutions leader, today announced the launch of EquitySelect – an innovative, nonrecourse, first lien home equity loan designed to advance the financial flexibility of Americans entering or in retirement.
EquitySelect sets itself apart from other solutions on the market through monthly payment choice and built-in protections for aging homeowners. Borrowers can choose their monthly payment plan—as low as an annualized 1%— allowing for minimum monthly payments that adjust based on a borrower’s loan balance.** Each loan offers a lifetime monthly payment cap, ensuring monthly payments will never exceed a predetermined amount, even if interest rates rise or the borrower draws down their full credit line or pays below the full interest for the life of the loan..
Unlike traditional HELOCs, EquitySelect is nonrecourse, meaning borrowers and their heirs will never owe more than the home is worth. Qualification is based on the lifetime cap, resulting in lower monthly payments when determining debt-to-income ratio (DTI).
“Today’s financial challenges in retirement require reimagined financial solutions built on choice and innovation. We reimagined asset-based lending using home equity. We spent several years designing this product and building a web-calc to provide customized quotes within seconds,” said David Peskin, President and CEO of American Senior Lending. “Whether a homeowner is looking to consolidate debt, access the equity in their home for everyday needs, or the need to renovate an aging home, EquitySelect is redefining retirement home lending with a flexible, tailored, and affordable way to create financial flexibility.”
Home equity remains the largest asset for many older Americans. According to December 2024 estimates from Freddie Mac and the Federal Reserve, as much as half of the nation’s total home equity is held by homeowners age 61 or older. As near and current retirees living on fixed incomes face rising living and insurance costs, flexible borrowing options have become increasingly critical.
In a pilot program, a 75-year-old borrower qualified for a $300,000 EquitySelect loan, taking $150,000 at closing. Their initial monthly payment was just $126 for the first month and will not exceed $391 over the next 40 years, even after withdrawing the remaining balance, until the final balloon payment when the loan is due.
“EquitySelect is about giving homeowners more choice after being forced into an ‘either-or’ box for too long,” said Eric Ellsworth, Executive Vice President of Sales at American Senior Lending. “EquitySelect breaks that mold by combining desired features of existing mortgage products into one flexible, highly tailored financial solution. Feedback from our pilot broker partners confirms what we’ve long known: consumers want a more flexible way to access their equity.”
EquitySelect’s terms include no annual fees, no pre-payment penalty, and a fixed 40-year term with a protected line of credit. A second-lien variation is also currently in development.
To access the loan, a borrower must ensure the loan is in first position on a primary residence with tappable equity. Broker partners can access the product through widely available loan origination systems and an interactive online calculator.
For more information, including terms, conditions, availability, and a product calculator, please visit https://wholesale.americansenior.com/equityselect/
*Minimum payments do not cover the entirety of interest charges and could result in additional interest added to the total loan balance, due in a balloon payment at the end of the loan term. Equity Select requires a minimum initial draw of 50% of the line of credit or $75,000, whichever is greater, with a 7-year draw period. The borrower cannot withdraw funds after the draw period ends, and the payment will be capped for the remainder of the term.
About American Senior Lending
Since 2007, American Senior Lending has offered reliable mortgage solutions tailored to your needs. Offering Fannie Mae (conventional fixed mortgage), FHA, Non-QM, HELOCs and reverse mortgages, their winning strategy consists of a carefully crafted blend of excellent price, niche product offerings and exceptional customer service. To learn more about our company, please visit the company’s website and for more information and to obtain an instant rate quote, please visit us at https://wholesale.americansenior.com/
American Senior Lending, NMLS ID # 7147 (www.nmlsconsumeraccess.org), Equal Housing Lender.
Contact: Melissa Giglio, [email protected]
SOURCE Hightechlending Inc dba American Senior Lending
