The answer to this question depends on your individual situation and needs. With a reverse mortgage, you can access your home equity without having to make monthly payments. However, you will eventually need to pay back the loan when you move out of the home or you pass away. With a traditional home equity loan, you will need to make monthly payments for interest and/or the principal; many  equity loans have interest-only options. Ultimately, it’s best to speak to a financial advisor and/or a broker about your situation for personalized advice.