Jul 01 2008

Today’s Reverse Mortgage Interest Rates

Authored by Luke Helm under the category Blog, News Updates, Reverse Mortgages, Reverse Mortgages California

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.

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