If you decide selling your home isn’t for you, there are alternatives to supplement your retirement income. Homeowners 62 or older might qualify for a reverse mortgage. A reverse mortgage allows you to borrow money against the equity you have in your home. However, reverse mortgages can be risky as they require you to pay the lender the additional debt with interest, and it uses up your equity. Another option you may have if you have a lot of equity in your home is to borrow money through a home equity line of credit. A home equity line of credit is a second mortgage that gives you a revolving line of credit to use for large purchases. You typically make interest-only payments first during the draw period. When the repayment period begins both principal and interest payments must be made on the loan.