Reverse Mortgage Interest Rates

Understanding Reverse Mortgage Interest Rates

Reverse mortgage interest rates vary depending on which product is being discussed. The most popular reverse mortgage is the Home Equity Conversion Mortgage (HECM), or HECM Reverse Mortgage. There are fixed rate reverse and adjustable rate reverse mortgage programs. The fixed rate programs require lump sum distribution, while the adjustable rate programs offer many options including line of credit (with growth), monthy payments to the borrower, or lump sum distribution. Adjustable rate reverse mortgage interest rates for the HECM are based on the LIBOR index. Although the reverse mortgage program is administered by the Federal Housing Administration(FHA)there are differences between lender costs and rate options so you are encouraged to shop. There is also a cap on how high the reverse mortgage adjustable rate is allowed to go. This was implemented as a safeguard for the borrower.

To learn more about reverse mortgages, or to request Information on Reverse Mortgages, please Contact us today. There is no obligation, and the information is free. You may visit the following link to return to the ReverseMortgage Com home page.

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Very Helpful and Answered My Questions I talked to 3 different RV mortgage companies to start with and all of them wanted me to sign up, offering very little information. Then I talked to Larry McAnarney. He was very helpful explaining details and answered my questions very well. He was very patient with me and we closed the reverse mortgage. I would highly recommend him for reverse mortgage loan.    

Jack C — Feb 3, 2020

True Professional Larry was a true professional and really knows his stuff. He helped me with a financial problem and I now can breathe much easier knowing I can stay in my home.

Dolores R — Feb 3, 2015

Larry was Very Helpful Larry McAnarney was very helpful in getting my reverse mortgage. It was a new experience for me and he never refused a call or a question and guided me where I needed to be. Very informative, friendly. I did not feel like I was being talked to as a child but more of a friend. I will recommend him to anyone who should ask.      

Elizabeth H — Jan 31, 2022

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