There are generally four different ways that you can cash in on the equity of your home using a reverse mortgage: Annuity: The lender provides you with monthly payments that can help supplement your income.  Lump Sum: You get all of the cash available in your equity in one lump sum.  Line of Credit: You can borrow cash from your lender as needed.  Term Payments: A timeline of specified payments to be distributed over the loan course.  Additionally, you can mix and match these terms to create a personalized loan that meets your needs.