Larry McAnarney
815-703-4745

Reverse Mortgage Interest Rates

Understanding Reverse Mortgage Interest Rates

Reverse mortgage interest rates vary depending on which product is being discussed. The most popular reverse mortgage is the Home Equity Conversion Mortgage (HECM), or HECM Reverse Mortgage. There are fixed rate reverse and adjustable rate reverse mortgage programs. The fixed rate programs require lump sum distribution, while the adjustable rate programs offer many options including line of credit (with growth), monthy payments to the borrower, or lump sum distribution. Adjustable rate reverse mortgage interest rates for the HECM are based on the LIBOR index. Although the reverse mortgage program is administered by the Federal Housing Administration(FHA)there are differences between lender costs and rate options so you are encouraged to shop. There is also a cap on how high the reverse mortgage adjustable rate is allowed to go. This was implemented as a safeguard for the borrower.

To learn more about reverse mortgages, or to request Information on Reverse Mortgages, please Contact us today. There is no obligation, and the information is free. You may visit the following link to return to the ReverseMortgage Com home page.

Verified Reviews

(233)

Highly Impressed Upon my initial conversation with Larry I was highly impressed along with his credentials. As I continued to work along with him in obtaining all the documentation Larry requested, he came across some huge hurdles regarding my financial situation, but managed to resolve ALL and was able to successfully acquire a reverse mortgage for myself. I cannot thank Mr. McAnarney enough for providing me with a comforting financial lifestyle. Larry truly left me with a lasting and positive impression while accomplishing all that he could for me. Emotionally now, I can see the light at the end of the tunnel. If you are looking to take the next step to financial security and peace of mind, I highly would recommend the very ultimate and polished man in his field, Mr. Larry McAnarney.

Donna G — Apr 4, 2017

Very Thoughtful and Professional Larry is a very thoughtful and professional person. He carefully and with great patience took me through the process and gained my respect and trust. Always available and always following up, without the sales push and aggressiveness of other companies I talked with. Great person to work with and I highly recommend him

Javier I — Feb 13, 2018

My Financial Advisor Recommended Larry My financial advisor recommended I contact Larry about reverse mortgage options. I live in a condominium so there were some extra hurdles Larry had to go through to get the association approved. He always stayed in touch with me and answered all my questions. I don’t know what I would have done without Larry and the Reverse Mortgage.

Mary Lou L — Jan 11, 2019