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

(176)

I Decided to Investigate with some Trepdition When I decided to investigate a Reverse Mortgage I did so with some trepidation. There was so much negativity about them that I didn't think I would end up getting one. But when everything was explained to me it became obvious that there was no reason not to. So I proceeded thru the procedure and ended up with the mortgage. Everything you told me came to pass and I am completely satisfied with the end product. It would behoove those who are eligible to look into getting one for themselves. Thank you again

John M — Aug 20, 2015

Easy Process and Friendly Service Larry was great to work with. He guided me through the process and was very specific about the information I needed to provide so that I was prepared each time we met. He came to my home for all of our meetings and that was very convenient for me. Larry was aware that I needed to get my loan closed as soon as possible and he made sure the underwriters were aware of that. When it was time for me to close, I asked Larry to be there since I trusted him and wanted his support. He was there as promised. Closing was easy and straighforward and everything went the way I expected. I am very pleased with Larry and would recommend them highly.

Rhonda T — Oct 19, 2015

Gold Standard Service We were concerned about getting an honest and experienced person to help us understand and facilitate a reverse mortgage for our 90-year-old mother. Larry McAnarney is an experienced expert I will recommend to everyone if there is a need for RM financing. He is knowledgeable, very professional, and kind. He thoroughly answered all our questions and promptly responded to email and phone inquiries as needed, guiding us through each step. He provides a gold standard service!

Renee M — Oct 4, 2022

Read More Reviews