Reverse mortgage rates are the same for all reverse mortgage lenders. The true cost of different reverse mortgage programs, however, vary based on the different program or product.

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Reverse mortgage rates are the same for all reverse mortgage lenders. The true cost of different reverse mortgage programs, however, vary based on the different program or product.

(more…)

First, what a reverse mortgage is NOT:

• A reverse mortgage is not “a way for the bank to get your house”
• It is not a traditional home equity loan

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First, what a reverse mortgage is NOT:

• A reverse mortgage is not “a way for the bank to get your house”
• It is not a traditional home equity loan

(more…)

203-b limit

The maximum amount of a home’s value that can be used to determine the dollar amount a borrower receives from a federally insured HECM reverse mortgage; varies by county; the name comes from section 203 (b) of the National Housing Act

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203-b limit

The maximum amount of a home’s value that can be used to determine the dollar amount a borrower receives from a federally insured HECM reverse mortgage; varies by county; the name comes from section 203 (b) of the National Housing Act

(more…)