Jul 15 2008
Reverse Mortgage Interest Rates
Reverse mortgage interest rates are down again this week.
Home Equity Conversion Mortgage – FHA Reverse Mortgage:
Variable rate is at 3.75%. Index is the 1 Year CMT index plus a margin of 1.5%.
Fixed rate is at 6.18% to 6.45%
Non-FHA Jumbo Reverse Mortgages:
Jumbo Reverse Mortgage: 5.97% (variable LIBOR index plus 3.5% margin)
Fixed Rate Program: 8.750%
Please request a reverse mortgage quote for interest rates details, Total Annual Loan Cost rate and for loan disclosures.
