Reverse Mortgage Interest Rates Information
Which Reverse Mortgage Interest Rate Is The Best Choice For You?
This question cannot be answered simply because it depends on the other factors of your reverse mortgage. A fixed reverse mortgage interest rate is only available to people who choose a lump sum disbursement option. If you wish to access some other type of disbursement option, you would select one of the adjustable interest rates.
You have access to a variety of disbursement options.
- Exceed Lump Sum Option
It is possible to exceed the amount you would receive with the lump sum option.
- Allows Growth
The line of credit disbursement option has a growth feature that allows the line of credit to grow with the assumed appreciation of your house.
- Change At Any Time
You can change your disbursement option at any time, as long as you have not used all of the funds available to you.
- Monthly Payout
There is an option that allows you to get a monthly payout for as long as you live in the home.
- Adjustable Interest Rate
The adjustable interest rate allows for much more customization, but it is possible for the interest rate to increase significantly.
- Lower Than Ever
Fixed reverse mortgage interest rates are lower than ever!
Rates are comparable to traditional mortgage, but are NOT based on credit.
- Instant Access
If you wish to receive all of your money in a lump sum, you will have access to the most money at the beginning of your loan.
- Locked In Interest Rates
The interest rate will NEVER change.