Fixed Rate Program

Fixed Rate HECM loans allow reverse mortgage borrowers to get a fixed rate on their loan without ever having to worry about the fluctuations of rates rising and declining. This product is exclusively for borrowers who wish to draw all of their available funds in a lump sum at the time of closing. In most cases this product is great for seniors who currently have a mortgage because they already have to take a lump sum to pay it off.

The interest rate for HECM Fixed Rate is comparable to that of a conventional forward mortgage; however, no mortgage payments are required as long as the borrower lives in the home. The interest rate is determined by market conditions. This rate changes daily, please call in for today's rate.

HECM Fixed Rate eliminates the complexity associated with an adjustable rate loan, making it easier for the homeowner to decide if HECM Fixed Rate is a sound financial decision. Because the interest accrual for HECM Fixed Rate is known, borrowers will have the comfort of knowing exactly how much money they may pass on to their estate. With the overall acceptance of reverse mortgages on the rise, HECM Fixed Rate is another step in the right direction to focus on future reverse mortgage choices that address the needs of older Americans, thereby enhancing their financial well-being, independence, and peace of mind.

Call one of our advisers today to find out if a HECM Fixed Rate reverse mortgage is more beneficial for you than a traditional reverse mortgage. We will give you a side by side comparison so you can make a smart decision looking at the benefits from both products over the long and short term.

New York Residential Reverse Mortgage
800-987-7740