Many retirees plan carefully for the future, but rising costs can still strain a fixed income. From groceries to health care, everyday expenses may look very different than when you first retired.

If you’re 62 or older, a reverse mortgage may let you convert part of your home’s equity into cash — without taking on a new monthly payment. 

As long as you live in the home, maintain it, and stay current on property taxes and insurance, repayment typically isn’t required until the home is sold or after you pass away.

Money’s editorial team has reviewed leading reverse mortgage providers to help you compare options and estimate how much equity you may be able to access.