What are the interest rates and how are they calculated?

All Reverse Mortgages are adjustable rate mortgages (since there is no set term you are keeping the mortgage) and the rates can fluctuate up and down. The starting rates are LOWER than current conventional mortgage rates. There are various rate plan that we will discuss with you and help you select the best plan for your situation.

The most popular is the monthly adjustable rate that is tied to the one-year US Treasury Index. It is a very stable index and can be observed in the financial news each day. A margin of 1.5% is added to this index each month to calculate that months rate.

All rates have caps that keep the rate from adjusting too high even though historically, the rate has never come close to the max allowed. More.

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