REVERSE MORTGAGE INFORMATION: Tools, News and Resources to Help Seniors Decide


We maintain this list for our own use but thought it might have value to others as well. It’s accurate to the best of our knowledge, but programs can and do change, so always check with the lender for the most up-to-date facts. If you see any incorrect information or know of additional programs that should be listed, let as know and we will make the necessary changes.

Reverse Mortgage Products (List Updated Thru 6/14/07)

Product LinkFHA Insured?LenderPhoneTypeIndexMarginRate AdjustmentComments
Home Equity Conversion Mortgage Variations
HECMYesAllVariousVariable1 Year UST1.500%MonthlyStandard HECM
YesBNY Mortgage800-269-6797Variable1 Year UST1.000%MonthlyHECM with Reduced Margin
YesWells Fargo877-937-9357Variable1 Year UST1.000%MonthlyHECM with Reduced Margin
YesFinancial Freedom800-500-5150Variable10 Year USTRanges From 1.00% - 1.12%MonthlyHECM with Reduced Margin
YesBNY Mortgage800-269-6797FixedRate Approximates 30-yr Traditional Mortgage RateNoneN/AHECM w/Fixed Rate - Required to Draw 100% at Closing
Yes1st Reverse Financial877-574-1000FixedRate Approximates 30-yr Traditional Mortgage RateNoneN/ASame as BNY Fixed - Private Label
Proprietary Reverse Mortgage Products
NoBNY Mortgage800-269-6797FixedPrime Rate0.990%N/A
NoCountrywide866-466-3702Variable???Jumbo Reverse Mortgage
NoFinancial Freedom800-500-5150Variable6 month LIBOR3.50%Semi-AnnualJumbo Reverse Mortgage (Variations: Standard, Zero Point, Simple Zero)"
NoGeneration Plus866-733-6086Variable1 month LIBOR3.125%MonthlyJumbo Reverse Mortgage
NoSeattle Mortgage800-489-0986Variable6 month LIBOROptions: 3.60% or 2.10%Semi-AnnualJumbo Reverse Mortgage
NoSun West Mortgage877-738-7962Variable1 month LIBOROptions: 3.50% or 3.25%MonthlyJumbo Reverse Mortgage - Can be Used for Reverse Mortgage on 2nd Home
Other Products
NoAll800-732-6643Variable1Year CD3.400%MonthlyLittle Used - Makes Sense for Small Niche of Borrowers
NoInter Family800-805-2472N/AN/AN/AN/ANot a Reverse Mortgage But Loan Servicing for DIY Reverse Mortgage
NoRex & Co.866-876-6778N/AN/AN/AN/AAn agreement that gives homeowners a portion of their home's equity in cash today in exchange for the right of REX & Co. to share in the future increase or decrease in the home's value.
NoEquity Appreciation Sharing - Not a Loan877-234-4635N/AN/AN/AN/AEquityKey believes a 50% share in your home's future appreciation will be worth more than the amount it pays you to participate. We provide the cash you need today and look forward to sharing with you in the growth of tomorrow.
Products No Longer Available
NoVirtual Bank866-364-4824Variable1 Year UST2.000%Monthly
NoVirtual Bank866-364-4824VariablePrime Rate0.500%Monthly
NoVirtual Bank866-364-4824Variable6 month LIBOR3.500%Semi-AnnualJumbo Reverse Mortgage