Ask Shop Rate: Lal - Florida

Posted by  on Apr 16, 2009
We are contemplating a Reverse Mortgage, Fixed Rate...appraisal HECM. What are the interest rates and are they going to change...higher or lower??... Predicting where interest rates are headed is not something we do. It’s a little like predicting the weather, we can guess, but it might not turn out exactly the way you had predicted. Also, rates will vary from lender to lender.

However, there is a great site you should visit that was set up so that seniors would not be taken advantage of when contemplating a Reverse Mortgage. The web site is www.reversemortgage.org. You can also find a list of lenders on that site that can give you a current rate on your property. Like any mortgage, you should contact and compare the different companies. Even with Reverse Mortgages, you may find that different companies may be able to offer different deals.

Also, we suggest reading 2 articles we have posted in our Learning Center that you can read by clicking on the following links:
An Intro to Reverse Mortgage
How to determine if a Reverse Mortgage is right for you


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