Happy Tuesday!  It's reverse mortgage interest rate update day, so the following are the latest for the most common reverse mortgage programs:

FHA Home Equity Conversion Mortgage (HECM) rate is unchanged this week at: 3.57% (Index is the 1 Year CMT at 2.07% plus a margin of 1.5%)

The FHA Fixed rate HECM Reverse Mortgage:  6.31% to 6.45% (depending on the bank)

Bank of America Independence Plan Reverse Mortgage: Suspended

Financial Freedom Cash Account Advantage Reverse Mortgage: 6.64% (Index is 6 month LIBOR at 3.14% plus margin of 3.5%)

For a reverse mortgage quote, please contact us or your lender. Interest rates are not an APR because they do not account for closing costs.

 
This post has been included in California Information

1 Comments on Reverse Mortgages Interest Rates

MAY
27
2008
289,976 Points Localism Sponsor Outside Blog

Hi Luke,

Thanks for the rate info.  Have a great week.  Michael A. Caruso
2:47pm • #1

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Luke Helm

Carlsbad, CA

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www.Reverse-Mortgage-Info.net

Address: 300 Carlsbad Village Dr, Ste 108A, Carlsbad, CA, 92008

Office Phone: (866) 311-3360

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Information about Reverse Mortgages specific to California and in general about the programs, industry news, current interest rates and perspectives about the product.


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