Senior home wealth just hit a record high. Here's how to borrow from it now.

Interest rates may be elevated, with no clarity on when a rate cut might be issued, and inflation continues to trouble millions of Americans. For homeowners, however, there has been a silver lining in the economic climate of recent years – growing home values from which to borrow from. And that's especially true for seniors, according to new data released this week from the National Reverse Mortgage Lenders Association. 

"After two quarterly declines, housing wealth among homeowners aged 62 and older rose in Q1 2026 to a record $14.92 trillion," the latest quarterly NRMLA/RiskSpan Reverse Mortgage Market Index revealed on July 20. That increase was due to an "estimated $314.8 billion (1.8%) rise in senior home values, which was partially offset by a $10.5 billion (0.4%) increase in senior-held mortgage debt," the NRMLA noted. And with a reverse mortgage, specifically, homeowners age 62 and older won't need to worry about making repayments as they would with alternative borrowing products. 

A reverse mortgage only needs to be repaid in the event of the death of the homeowner or if the home is sold. But that's not the only way in which senior homeowners can take advantage of this new spike in home values. Below, we'll break down the three primary ways they can securely borrow from it now.

See how much you could borrow with a reverse mortgage here.

3 ways seniors can borrow home equity now

Not sure how to access the record amount of equity seniors now have to borrow from? Here are three effective ways to leverage it now:

A reverse mortgage

While only available to homeowners aged 62 and older, this could be one of the easier ways to use your home equity currently. As noted, repayments won't need to be made if you're still living in the home. So you won't need to worry about another bill each month, nor will you need to be concerned about the interest rates tied to that repayment. 

And there will be multiple ways to access the funding, whether it is in a lump sum or a revolving line of credit for those homeowners unsure of how much they'll actually require. That noted, you will be deducting money from your home and reducing the value of it, which may be a concern if you're planning to leave it to beneficiaries, so it's worth careful consideration before getting started.

Review your reverse mortgage options online now.

A home equity loan

A home equity loan comes with an average interest rate around 7% now, making it not only one of the cheaper ways to borrow home equity but one of the cheapest ways to borrow money overall. With personal loan interest rates in the double-digit range and credit card interest rates more than 20%, on average, this could be the most effective way to gain access to a large sum of money at a reasonable cost. 

Your home will function as collateral in this exchange, however, so it's important to weigh the costs before applying, as you'll need to comfortably afford the monthly payments to avoid foreclosure risk. But with a home equity loan offering a fixed interest rate and, therefore, predictable payments, this can be a risk that's easily managed.

Get started with a home equity loan online here.

A HELOC

A home equity line of credit (HELOC) functions much the same way a home equity loan does, albeit with a variable interest rate and as a revolving line of credit, unlike the former's fixed interest rate and lump sum structure. But with full payments with a HELOC only being required after the initial draw period (up to 10 years), this could be one of the better ways to borrow equity now. 

With your home also serving as collateral in this exchange, however, prospective borrowers are encouraged to calculate their potential monthly costs both against today's average rates and what they could be in the future as HELOC rates change each month for homeowners.

The bottom line

With senior home wealth at a new record high, homeowners may want to seriously evaluate the viable ways they can tap into that equity right now. Reverse mortgages, home equity loans and HELOCs all offer accessible and viable ways to leverage this equity, though they will each come with unique pros and cons that will need to be understood in advance. Consider speaking with lenders directly, then, as they can answer your questions and help you build a tailored borrowing plan that will allow you to take advantage of today's elevated home values while avoiding the temptation to overborrow at the same time.