Reverse Mortgage Blog

Our reverse mortgage blog offers the latest industry news and insights to help you determine if a reverse mortgage is right for you. If you're looking for reverse mortgage calculators, be sure to check out our reverse mortgage calculator page.

Reverse Mortgage Fees

Are Reverse Mortgage Fees Really High?

One of the big HECM reverse mortgage disadvantages you may hear in the news media or read about online is the high fees. Yes, the fees can be high, but it doesn’t mean they always are. As with many things reported on in the media, there’s a little more nuance to the issue than the headlines would imply. … Read More >>

How to Finance Home Improvements With a Reverse Mortgage

How to Finance Home Improvements With a HECM Reverse Mortgage

If you’re 62 or older, a HECM reverse mortgage is a fantastic tool for financing home improvements because it doesn’t require a monthly payment and you don’t have to pay the money back for as long as you live in the home. No other home loan program out there offers that. Your obligation under the HECM program is … Read More >>

The Basics: HECM Reverse Mortgage Eligibility Requirements

The HECM reverse mortgage is an FHA-insured mortgage program designed to give seniors access to a large portion of the value of their home without having to take on a mortgage payment or give up ownership of the home. The reverse mortgage is a home loan, so it does come with some basic eligibility requirements: You must be 62 or older. … Read More >>

How Does the Variable-Rate HECM Work?

1/1/2021 UPDATE: In 2021, the reverse mortgage industry will be transitioning to the CMT index instead of the LIBOR. The LIBOR is to be phased out across all financial markets by the end of 2021. The variable-rate HECM is the most popular product in today’s reverse mortgage marketplace. It’s more flexible and customizable than it’s fixed-rate counterpart … Read More >>

How Does the Fixed-Rate HECM Work?

There are two main FHA-insured reverse mortgage products, the fixed-rate HECM and the variable-rate HECM. The fixed-rate HECM is generally the less popular of the two because it isn’t as flexible and customizable as the variable-rate HECM, but it is still a great reverse mortgage option for many people. It comes with the security and predictability of an interest rate that never changes, but the … Read More >>