While keeping the same reverse mortgage on the same terms, you can reduce the interest you ultimately pay by adding extra dollars onto your monthly payment. Why Trust Us? Fact-Checked If you have a reverse mortgage in California and find yourself with extra cash—perhaps from an inheritance, a windfall, or increased financial stability—you might consider […]
Understanding Reverse Mortgage Interest Rates Fixed Rates If your reverse mortgage has a fixed rate, the interest rate in your contract will remain the same for the duration of your rate term. Common fixed-rate terms include 6-month, 1-year, 3-year, or 5-year fixed terms. This provides stability, ensuring your rate does not fluctuate. Variable Rates If […]
