Reverse Mortgage Note Rate

Monday, May 12, 2008

Here is a good definition about Reverse Mortgage Interest rates. Included the "note rate" and "FHA rate". Please call 1-888-973-8377 with any questions.

Reverse mortgage benefits are determined by the home's value (up to a limit), the borrowers' age and the expected interest rates. FHA/HECM reverse mortgage programs have two interest rates: The "note rate," which determines the repayment amount when the reverse mortgage becomes due; and the "FHA expected interest rate," which partially determines how much money you get from a reverse mortgage. The note rate is currently around 3 percent and the expected rate is also low, meaning higher benefits to borrower.

ReverseMortgageNation.com is a national reverse mortgage lender, and can supply numerous amounts of Reverse Mortgage Information.