Can I get cash from my home equity with no monthly payment?

What has to be true

You have equity in the home. Every route on this page is settled from the home’s value, so the equity is the starting point.

You can keep paying what continues: property taxes, homeowners insurance, HOA dues where there is an association, and, on a home equity agreement, your existing mortgage. None of these routes takes those over.

You understand that the payment is deferred, not gone. It comes due later, from the home, in one settlement.

What the lender or provider checks

The home: its value and condition, and whether it is your principal residence, which a reverse mortgage requires.

You: age for a reverse mortgage, title, and the ability to keep paying taxes, insurance and dues. The California DFPI notes that home equity agreement providers “may not give standard loan disclosures or follow other home loan protection laws,” so on that route the review is the provider’s own.

Any existing mortgage, because it has to be dealt with as part of a reverse mortgage and continues alongside a home equity agreement.

Limits

No monthly payment is not no cost. On a reverse mortgage the CFPB says the amount owed “goes up–not down–over time,” because interest and fees are added to the balance. On a home equity agreement the provider’s share applies to the home’s value when it is settled, and the DFPI warns that homeowners “may not realize how much they will owe until they try to sell, refinance, move or rent out the home.”

Nothing on this page states a rate, a fee, a share, a term or an amount, and no provider or program is named. Those come in writing from the program or the provider, and you should read every page of them.

The routes with a monthly payment still exist and are sometimes the better answer: a home equity line, a fixed second loan, or a refinance. I will say so plainly when one of those fits better.

Sixty-two and older: a reverse mortgage

The federally insured version is the Home Equity Conversion Mortgage, available through FHA-approved lenders, and the regulation requires that the youngest borrower be sixty-two or older at closing. I place reverse mortgages, and eligibility depends on your age, equity and home.

No monthly mortgage payment is required. The homeowner must still pay property taxes and homeowners insurance, keep up any HOA dues, live in the home as a principal residence and keep it in good repair; HUD says borrowers “may reside in their homes indefinitely as long as property taxes and homeowner’s insurance are kept current.” Counseling from a HUD-approved counselor is required before the loan.

The loan comes due when the borrower no longer lives in the home, including after a death where no surviving borrower lives there, with a deferral for an eligible non-borrowing spouse. The balance grows over time, and the estate is not personally liable beyond the home. The reverse mortgage page walks through the rules in full, with the sources.

Under sixty-two: a home equity agreement, a third-party product

This is not a mortgage loan and it is not offered by West Capital Lending. It is a home equity agreement, sometimes called a home equity investment, provided by a third party. I can help homeowners with these agreements, and I keep them visibly separate from the loans I place.

How it works, in plain words: cash now in exchange for a share of the home’s future value, with no monthly payment collected, and one payment later when the home is sold or refinanced, or at the end of the agreement’s term. The share applies to the home’s value when it is settled, not to the value today. Property taxes, insurance and your existing mortgage continue. A later refinance or a home equity line may require buying the agreement out first.

What California’s regulator says. The DFPI describes the product this way: “In exchange for the money upfront, the homeowner agrees to repay a lump sum later, based on a percentage of the home’s future value or equity.” It says the agreement documents give the provider a legal claim, known as a lien, against the home. It notes: “Unlike reverse mortgages, HEIs typically don’t require you to get counseling from a HUD-approved agency.” Its June 2026 alert adds that these are “complex agreements that can lead to significant or unexpected costs,” that some include limits on the provider’s return but “these caps may be set high enough that they offer little real protection,” and it advises homeowners to “compare it to alternatives that could meet your needs such as home equity loans, home equity lines of credit (HELOCs), or state and local assistance programs” and to “review all terms, including how the provider’s share is calculated, when repayment is required, and what fees or charges apply.”

Where to read more before you decide

The California DFPI’s consumer guidance, Understanding Home Equity “Investments”, and its consumer alert of June 12, 2026, are the two documents to read before signing a home equity agreement. For a reverse mortgage, HUD’s program page and the CFPB’s plain-language page are linked from the reverse mortgage page.

The HOA special assessment page and the IRS tax lien page each describe a specific bill these routes can cover.

Questions people ask next

Two ways to take the next step