Are interest rates fixed or variable?

Reverse mortgages are available with either fixed or variable rates. Borrowers who elect a fixed-rate loan will receive their funds as a single disbursement lump sum. A lump sum disbursement is also available with an adjustable rate. A line of credit and monthly advances have an adjustable rate.

 

Verified Reviews

(55)

Wonderful Customer Service Customer service was top notch from beginning to end; any and all questions we had were answered or we were put in touch with someone who would be able to help us. Our representative Larry McAnarney helped each step of the way and never failed to get back to us in a timely manner.

Diane R — Jan 12, 2015

I would recommend Larry to my friends Larry was great, he answered all of my questions and made the process easy. I would recommend him to my friends, I don't often recommend anybody and things.

William M — Sep 25, 2015

Worked well for us! My wife and I had been discussing reverse mortgage for some time. We had heard all the pros and cons of doing this type of mortgage and the pros won out. We have a house that was built in 1976 and we have been in it since 1991. We have really done no updates on it and it was really needing some remodeling. We were just not able to afford all the stuff that it needed. We could not find anyone in our area that did reverse mortgage so I got on the internet and did some searches. A few days later I got a call from Larry McAnarney. I told Larry that I came from the "old school" and was use to doing business face to face, but since he was in Illinois and we were in Texas it made it a little difficult. However, to make a long story short, Larry explained everything to our satisfaction and we started the process. We had to go to a counseling session so that we understood the process. After that it was pretty simple. Thanks to Larry McAnarney.

Joe G — Apr 14, 2015

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This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.

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Illinois Residential Mortgage Licensee; Arizona Mortgage Banker License #0935256: Georgia Residential Mortgage Licensee No. 36793; Originator License No. 40299; Kansas Originator License LO.0001032; Licensed by the New Jersey Department of Banking and Insurance; Texas Mortgage Banker Registration in-state branch office 6044 Gateway East, Suite 236, El Paso, TX 79905(branch NMLS 1244676) RMF is not licensed or registered to engage in mortgage loan origination activities in Hawaii or New York.