Whether cruising cross-country in a new motorhome or navigating open waters in a sleek new boat, your home equity can be the key to discovering retirement adventures while comfortably maintaining your financial security.

Purchasing one of these items often involves the liquidation of a sizable portion of an investment portfolio or a loan with a large monthly payment. That may not be a possibility for everyone.

For seniors on fixed incomes or looking to minimize monthly expenses, Bay Equity offers the Home Equity Conversion Mortgage (HECM), commonly called a Reverse Mortgage.

Specially designed for Americans 62 and older, the federally insured Reverse Mortgage is a loan that uses the equity in a senior’s primary residence as collateral. Many seniors find it easier to qualify for a Reverse Mortgage than for traditional financing.

Though usually touted as a subsidy to retirement savings, the most underrated feature of the HECM is its flexibility. The funds can be distributed in a lump sum, monthly payments, or a line of credit.

One of the key advantages of financing an RV or boat with a reverse mortgage is the ability to access funds without monthly payments.

Borrowers must continue living in the home and paying taxes, insurance and home maintenance. If these obligations are met, no other payments are due until the borrower moves, dies, or sells the home.

With a Reverse Mortgage, you can use the money for whatever you wish. Sock it away, pay bills, make investments - or even buy a big-ticket item like a boat or an RV.

A Reverse Mortgage can tap into your home equity while you maintain ownership of your home. Enjoy your desired lifestyle, travel, or pursue new experiences without the burden of monthly mortgage payments, using your home as an asset to support your retirement goals.

You also get the added option of bringing your own funds to the dealership, an important negotiating tool at the closing table. The dealerships benefit as well, as the biggest obstacle to their boat and RV sales is the high cost of financing the purchase.

Embrace adventure and seek out new horizons in your retirement with an HECM Reverse Mortgage from Bay Equity. You have been working your whole life. Maybe it is time to put your home equity to work for you.