Modern mortgages can include portability, ways to access home equity (HELOCs, cash-out refinance), credit increases, and temporary payment relief. Lender-offered mortgage protection or individual disability insurance can cover mortgage payments during disability; compare terms, exclusions, and alternatives before buying.

H2: Beyond the signature - what your mortgage can offer
Buying a home in Los Angeles is one of the biggest financial moves most people make. The loan itself often includes features you can use later: ways to access equity, pause payments in hardship, or transfer a loan to new property. Understanding these options helps you protect your investment and plan for life's curveballs.

Common loan features to look for

H3: Portability (moving a loan to a new home)
Some mortgages are portable - meaning you can transfer the loan balance and terms to a new property instead of paying it off and taking a new loan. That can save closing costs and preserve a favorable rate. Portability is not universal; whether it's offered and the exact terms depend on your lender and loan program.

H3: Accessing extra funds: HELOCs and cash-out refinances
If you need money later, U.S. borrowers usually rely on a home equity line of credit (HELOC), a home equity loan, or a cash-out refinance. A HELOC works like a credit line secured by your home; a cash-out refinance replaces your mortgage with a larger one and pays you the difference. The term "redraw" is used in some markets to describe accessing extra repayments, but that exact feature is uncommon in U.S. mortgage products - confirm with your lender. ¹

H3: Top-ups and credit limit increases
Want to add borrowing capacity to an existing loan? In practice this is handled by increasing a HELOC limit, getting a new second mortgage, or doing a refinance. Ask your lender how they handle increases and what fees apply.

H3: Payment breaks and forbearance
Some loans allow temporary relief from payments through lender-approved forbearance or deferral programs. These options - sometimes called repayment holidays in other countries - vary widely: they may require prior extra payments, a formal hardship claim, or specific documentation. Federal protections (for example, during declared emergencies) and lender programs can affect availability. Check terms before relying on a break. ²

H2: Mortgage disability insurance - what it is and how to evaluate it
Mortgage protection insurance (MPI) or lender-offered disability coverage can pay some or all of your mortgage for a limited time if you become disabled. Similar protection also exists in the form of individual disability income insurance, which typically offers more flexible benefits and broader coverage.

When comparing options, check: length of benefit, exclusions (occupational limits, pre-existing conditions), elimination period (waiting period), and premium structure. Insurers commonly underwrite based on age, health, and occupation; specifics vary by company and product. Ask for full policy terms and compare MPI to standalone disability income insurance and any employer coverage you may have. ³

H2: Takeaway
Before signing, get written descriptions of any optional features, ask how they work in practice, and compare insurance offers. A mortgage advisor or licensed insurance agent can explain trade-offs so your Los Angeles home stays an asset, not an exposure.

1. Confirm prevalence and typical terms of portable mortgages among U.S. lenders.
2. Verify the use and availability of a "redraw" facility in U.S. mortgage products versus HELOC/cash-out options.
3. Confirm how U.S. lenders and insurers describe or offer repayment holidays/forbearance and whether the term "repayment holiday" is commonly used.