Reverse-Mortgage-Truth.com

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.

California Reverse Mortgages

Reverse mortgage interest rates are down slightly this week from last week.

Jumbo Reverse Mortgages (non-FHA):
Variable Jumbo Reverse Mortgage: 5.96% (LIBOR index plus 3.5% margin)
Fixed Rate Program: 8.875%

Home Equity Conversion Mortgage – FHA Reverse Mortgage:
Variable rate is at 3.85%. It is based on the 1 Year CMT index plus a margin of 1.5%.
Fixed rate is at 6.18% to 6.60% (depending on the lender)

Please request a reverse mortgage quote for interest rates details, Total Annual Loan Cost and for loan disclosures.

Home Equity Conversion Mortgage – HECM – FHA Reverse Mortgage:
Variable rate is at 3.96%. It is based on the 1 Year CMT index plus a margin of 1.5%.
Fixed rate is at 6.43% to 6.92% (depending on the bank)

Non-FHA Jumbo Reverse Mortgages:
Fixed Rate Jumbo Reverse Mortgage: 8.750%
Variable Jumbo Reverse Mortgage: 5.95% (LIBOR index plus 3.5% margin)
Financial Freedom Cash Account Advantage Reverse Mortgage: Closed
Countrywide / Bank of America Jumbo programs: Closed

These interest rates are not an APR or Total Annual Loan Cost (TALC) rate as they do not include fees. Please request a reverse mortgage quote for this information and all disclosures for California Reverse Mortgages.

Non-FHA Jumbo Reverse Mortgages:
Fixed Rate Jumbo Reverse Mortgage: 9.00% (available on home values up to $10,000,000)
Financial Freedom Cash Account Advantage Reverse Mortgage: 7.010% (Index is 6 month LIBOR at 3.51% plus margin of 3.5%)
Senior Lending Network EPA Jumbo: 5.95%

FHA Reverse Mortgages:
The fixed rate HECM is at 6.81% to 7.00% (depending on the bank)
The HECM, which is the FHA Home Equity Conversion Mortgage rate is 4.01% (Index is the 1 Year CMT at 2.51% plus a margin of 1.5%)

A reverse mortgage quote will provide the details such as Total Annual Loan Cost. The rates above do not include closing costs.