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The interest of adjustable-rate mortgages (ARM) are tied to the index and margin. The index is a reference point for the interest rate and will vary based on the...
What is the Mortgage Interest Rate Index?
The mortgage interest rate index is a benchmark that adjustable-rate mortgages (ARMs) base their fully indexed interest rates on. The fully indexed rate is the interest...
FHA Announces Increases for FHA & HECM Loan Limits (2021)
Increases on HECM Loan Limits For the fifth consecutive year, the Federal Housing Administration (FHA) raised its lending limit on all FHA loans, including the home...
What is a Constant Maturity Treasury (CMT)?
The constant maturity treasury rate (CMT) is a measure of the yield rate on a treasury security if it were issued that day. Lenders use this rate to help determine the...
Current Reverse Mortgage Interest Rates (2020)
As you consider whether a reverse mortgage is right for your financial circumstances, you should bear in mind how interest rates may affect your loan.
Can You Get a Reverse Mortgage on a Condo?
If you are eligible for a reverse mortgage, you may be able to obtain one on a condominium unit depending on certain rules and restrictions. Reverse mortgages allow seniors…
Reverse Mortgage vs Immediate Annuity Pros & Cons
As you plan for retirement, you might have caught wind of the term “immediate annuity” with promises regarding how this type of security can provide income for life.
2021 Reverse Mortgage Limits & Maximum Loan Amount
TABLE OF CONTENTS HECM FHA Mortgage Limits How do I receive my reverse mortgage proceeds? Every year, the Federal Housing Administration (FHA) sets lending limits on...
Reverse Mortgage Changes 2021: Updated Reverse Mortgage Rules
TABLE OF CONTENTS Changes in Reverse Mortgage 2019 Guidelines Changes in Reverse Mortgage Loan Limits for 2019 Changes in Principal Limit Factors on Reverse Mortgages...
HECM Counseling Requirements & Cost
TABLE OF CONTENTS Why do I need to go to a reverse mortgage counseling session before getting a reverse mortgage? How should I prepare for a reverse mortgage counseling...