How Fixed Rate Reverse Mortgages Work
Fixed rate reverse mortgages are currently at their lowest rates of all time. If you have ever considered the security provided by a fixed rate reverse mortgage, now is the time to pick up the phone and call one of our reverse mortgage advisors to explore your options.
The fixed rate Home Equity Conversion Mortgage (HECM) eliminates the risk of adjustable-rate mortgages. With the HECM Fixed Rate loan, the borrower has the comfort of knowing exactly what their interest rate will be for the life of the loan and the certainty that the rate will never increase. In addition, since the interest accrual is known, borrowers will have the comfort of knowing exactly how much they may pass on to their estate.
If you are curious about a fixed rate fixed rate reverse mortgage, please call or fill out the form to the right. Once we receive your information we will send you a reverse mortgage loan estimate that will compare a fixed rate reverse mortgage to adjustable rate reverse mortgages. Additionally, you will receive a Good Faith Estimate (GFE) that breaks down all the reverse mortgage fees. Plus, we will send you a Total Annual Loan Cost (TALC), which shows you the cost of your loan over time. Lastly, we will send you a Amortization Schedule, which, with a fixed rate loan will show you exactly how much you will owe on your loan over a given period of time.
Our reverse mortgage advisors are available for you. We will not pressure you into anything. We will educate you first and if you decide to proceed with the fixed rate reverse mortgage, or adjustable rate reverse mortgage, we will make the transaction as simple and seamless as possible.
So, please call or fill out our Reverse Mortgage Quote Form
You can also read our Fixed Rate Reverse Mortgage press release