Be Sure About Reverse Mortgage Interest Rates Are you at least 62? Want to tap into what is probably your most valuable asset without taking out a home equity loan? Reverse mortgages are the way to go, a way for seniors to get a little extra cash by borrowing against the value of their home without accruing additional debt. Just make sure you know about reverse mortgage interest rates, which aren’t necessarily like other interest rates. Most reverse mortgage interest rates are based upon a one-year U.S. Treasury security rate, meaning the interest rate changes with any fluctuation in the security rate, though it won’t go any higher than a 2% change per year or 5% over the duration of the loan. The other option is a monthly interest rate which is adjusted every month and is capped at a 10% change over loan’s lifetime.
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