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Anything under 6.5% for a fixed reverse mortgage rate is a good one. I would try to stay away from any rates that go up and above 7.5% as those can end up compounding with the market.
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∙ 14y ago
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Where is a good place to get online reverse mortgage info?
A good place to search for online reverse mortgage is any place which has a good record, interest rate and is fair towards their clients. Best is to see if the place has a good reputation.
Where can one get reverse mortgage quotes?
There are many places where one can get reverse mortgage quotes. One can get reverse mortgage quotes at popular on the web sources such as ARRP and Bank Rate.
What is considered a good refinance rate for a mortgage in Florida?
A good refinancing rate for a mortgage loan in Florida would be a very low rate. A rate under 5% would be a very good refinancing rate for a mortgage loan.
Can people who have fair credit get a good mortgage rate?
Yes, people who have fair credit get good mortgage rate. They will have to look a lot harder for someone to give them a good mortgage rate, as there are less of them out there.
What reverse mortgage calculator is the best one?
Opinions vary about which reverse mortgage calculator is the best, but a very good one is the AARP Reverse Mortgage Calculator. It provides estimates for two different reverse mortgage programs to tell you how much money you might receive under the plan.
What is the interest on a reverse mortgage?
The interest rate on a reverse mortgage varies depending on the program that you choose to take. There are both fixed and adjustable rates, equity lines and cash payouts etc. Currently the best fixed rate product is around 4.5%.
What is considered a good interest rate on a mortgage?
A good interest rate on a mortgage in 2014 is 4.2 percent. This varies greatly depending on the type of mortgage and the credit score of the applicant.
Can you get a good mortgage rate with a FICO score of 686?
FICO score for mortgageDepends on your definition of "good". You can get a mortgage with 686 score. FICO score over 720 will get you the best mortgage rate.
Do you still have to pay monthly mortgage if you have a reverse mortgage?
No, the purpose of a reverse mortgage mortgage is to eliminate mortgage payments permanently.
Where can one go to find a good mortgage rate?
In order to find a good mortgage rate one can go to many places. One can go to different banks to search for the best rate, or they could go to any mortgage rate comparing site like Mortgage News Daily.
What are the features of a reverse mortgage?
You can find the features of a reverse mortgage at www.aarp.org/money/personal/reverse_mortgages/ - . ANother good website is www.reversemortgage.org/Default.aspx?tabid=658
What is a reverse mortgage lead?
A reverse mortgage lead is where you can get names of people that are interested in getting a reverse mortgage. These leads should already have been screened to meet the criteria for a reverse mortgage.
