What are the key differences between a Reverse Mortgage and a HELOC? With a Reverse Mortgage you can access up to 55% of the equity of your home’s value, and you do not make a payment until you sell or move, approval is based on your home’s value, location and your age. With a HELOC, you can access 65-80% of your home’s value based on your income, credit score and any other liens on your home. Monthly interest payments start as soon as you access the HELOC funds. Reverse Mortgage rates are fixed and the HELOC rates are variable.