Reverse-Mortgage-Truth.com

Jumbo Reverse Mortgages:
Financial Freedom Cash Account Advantage Reverse Mortgage: 6.39% (Index is 6 month LIBOR at 2.89% plus margin of 3.5%)
Bank of America Independence Plan Reverse Mortgage: Suspended

FHA Reverse Mortgages:
FHA Home Equity Conversion Mortgage (HECM) rate: 3.57% (Index is the 1 Year CMT at 2.07% plus a margin of 1.5%)
FHA Fixed rate HECM Reverse Mortgage: 6.06% to 6.40% (depending on the bank)

Interest rates do not account for closing costs and are not APR’s. Contact a lender for a reverse mortgage quote.

Proprietary Reverse Mortgages:

Financial Freedom Cash Account Advantage reverse mortgage: 6.37% (Index is 6 month LIBOR at 2.87% plus margin of 3.5%)

Bank of American Independence Plan 210 reverse mortgage and Independence Plan 360: Bank of America has suspended their proprietary reverse mortgage program.

FHA HECM Reverse Mortgage rate: 3.43% (Index is the 1 Year CMT at 1.93% plus a margin of 1.5%)

FHA Fixed rate Reverse Mortgage - HECM: 6.7% to 6.81%

These are interest rates, not APR’s and do not include closing costs. A full reverse mortgage quote can be found here.