Why FirstREX?

If you're feeling uneasy about borrowing against the equity in your home, you're not alone. Taking on additional debt, the uncertainty of interest rates, and the burden of yet another monthly payment make borrowing less appealing all the time.

Enter the REX Agreement. Now you can obtain the cash you need to achieve your goals without borrowing.* Our smart alternative enables you to make the most of the equity in your home.

Benefits of the REX Agreement

• No interest and no monthly payments
  • Achieve your goals now with no current impact on your lifestyle
• No additional debt
  • Maintain better credit scores
• You typically control when your REX Agreement ends (up to 30 years)
  • So you decide when to incur the cost of the cash you receive
• Use the cash for any purpose
• Peace of mind
  • Put something aside for a "rainy day fund"
  • No monthly payment worries
  • Reduce your debt
  • Convert some of your home equity to cash as a hedge against a drop in home prices
  • Purchase health insurance, long-term care insurance, or a retirement annuity without any current out-of-pocket expense

* During the term of the REX Agreement, you remain fully responsible for all obligations relating to any debt secured by your home, including interest charges and monthly payments. You are also responsible for paying all real estate taxes, hazard insurance premiums, and any other obligations with regard to your home, and properly maintaining your home, subject to normal wear-and-tear. When you sell your home, you will pay all selling expenses, just as you would if you did not have a REX Agreement. You will also be responsible to repay any debt secured by your home at that time. You can end your REX Agreement at any time by selling your home or repurchasing the REX Agreement, subject to the maximum term of 30 years. To repurchase, you pay us the same amount we would receive if you were to sell your home at that time. If you choose to end your REX Agreement during the first ten years, special conditions may apply. Additional information about your obligations under the REX Agreement, the impact of the REX Agreement on you and your heirs, and special conditions that may apply under various circumstances is contained in the REX Agreement Product Guide.