This type of loan is paid out only as a “lump sum” and carries a fixed interest rate throughout the life of the loan.
A Fixed Rate Reverse Mortgage provides the stability and peace of mind that some borrowers require.
The monthly adjustable HECM carries a fluctuating interest rate throughout the life of the loan. However, it also provides more
payout options to borrowers including lump sum, line of credit, or monthly payments.
*Both Products are FHA-insured