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HECM reverse mortgage, pay upfront and grow credit line?

Started by Tcaster, August 17, 2019, 10:26:23 AM

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I am being courted by at least two companies offering a reverse mortgage  credit line that will grow at the rate of the loan if I don't use it.
The amount available that I can borrow on my home equity could double in ten years regardless of the property value and status of the funding institution as it is  government insured through FHA.
To optimize this arrangement I would have to pay the loan origination fee, closing costs, and FHA insurance up front.
Does  anyone have experience with  this loan  or have any insights as to wether this is even close to a sound  plan for the future?
I'm a single homeowner, no kids, no debt, and I can afford the 17k upfront costs  to set up a 190k credit line that will be worth  a about a 400k credit line  in 10 years.
This is if I don't use any of  the money during this 10 year period.