Karen Kennedy - Reverse Mortgage Specialist

Fixed Rate HECM

Fixed Rate HECM loans allow reverse mortgage borrowers to get a fixed rate on their loan without ever having to worry about rising interest rates. This product is exclusively for borrowers who wish to draw all of their available funds in a lump sum at the time of closing.

Currently only available in some states, interest rate is determined by market conditions, and locked 2 days prior to closing. There is only one rate for the life of the loan.

HECM Fixed Rate eliminates the complexity associated with an adjustable rate loan, making it easier for the homeowner to decide if HECM Fixed Rate is a sound financial decision. And, because the interest accrual for HECM Fixed Rate is known, borrowers will have the comfort of knowing exactly how much money they may pass on to their estate. The interest rate for HECM Fixed Rate is comparable to that of a conventional forward mortgage; however, no mortgage payments are required as long as the borrower lives in the home.

With the overall acceptance of reverse mortgages on the rise, HECM Fixed Rate is another step in our commitment to focus on future reverse mortgage choices that address the needs of older Americans, thereby enhancing their financial well-being, independence, and peace of mind.

"Consumers tell us all too often about the limited choices available in reverse mortgages… The time is right to focus on offering older homeowners more choices while giving them a greater sense of financial well-being. HECM Fixed Rate provides the homeowner certainty of cost, an assurance that is not available with a floating rate product."





Karen Kennedy Reverse Mortgage Specialist Griffin Financial Mortgage The Reverse Mortgage Source™ 4624-B Junius St. Dallas TX 75246 214.233.4435 toll free: 877.255.5753 email: info@kloanranger.com		HOME • FAST FACTS • USEFUL LINKS • GLOSSARY Fixed Rate HECM Fixed Rate HECM loans allow reverse mortgage borrowers to get a fixed rate on their loan without ever having to worry about rising interest rates. This product is exclusively for borrowers who wish to draw all of their available funds in a lump sum at the time of closing. Currently only available in some states, interest rate is determined by market conditions, and locked 2 days prior to closing. There is only one rate for the life of the loan. HECM Fixed Rate eliminates the complexity associated with an adjustable rate loan, making it easier for the homeowner to decide if HECM Fixed Rate is a sound financial decision. And, because the interest accrual for HECM Fixed Rate is known, borrowers will have the comfort of knowing exactly how much money they may pass on to their estate. The interest rate for HECM Fixed Rate is comparable to that of a conventional forward mortgage; however, no mortgage payments are required as long as the borrower lives in the home. With the overall acceptance of reverse mortgages on the rise, HECM Fixed Rate is another step in our commitment to focus on future reverse mortgage choices that address the needs of older Americans, thereby enhancing their financial well-being, independence, and peace of mind. "Consumers tell us all too often about the limited choices available in reverse mortgages… The time is right to focus on offering older homeowners more choices while giving them a greater sense of financial well-being. HECM Fixed Rate provides the homeowner certainty of cost, an assurance that is not available with a floating rate product." HOME • FAST FACTS • USEFUL LINKS • GLOSSARY email info@kloanranger.com
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