A new year is a natural time to take stock — and if you’ve spent years building equity, your home may offer opportunities you didn't realize. For homeowners 62 and older, a reverse mortgage can convert a portion of that equity into cash, without requiring monthly mortgage payments.

As long as you continue living in the home, maintain it, and stay current on taxes and insurance, repayment isn’t due until the home is sold or passed on. That can make it easier to cover everyday expenses, handle start-of-year bills or just create some breathing room.

Compare Money’s top reverse mortgage providers and see what options may be available to you this year.