And the reverse mortgage 5-year fixed rates are about 7%, and 5-year fixed mortgage rates are about 5%. HELOC rates are generally 1% above prime, so they’re currently around 7.95%.

The bottom line A reverse mortgage isn't a one-size-fits-all solution for seniors, but the benefits of pursuing one can be broadly applicable in the economic climate of July 2025. With the ability ...

HELOC vs. reverse mortgage: What seniors should consider now Eligible senior homeowners who are considering borrowing against their home's values can look into a home equity line of credit or a ...

The share of mortgage-free U.S. homeowners has hit a record 39.8%—a trend powered by an aging population and rising all-cash ...

Given that the reverse mortgage is a financial product reserved exclusively for those over the age of 62, it's worth mentioning how the mortgage debt is settled should the home owner die or ...

3. Counseling fees Homeowners who decide to take out a reverse mortgage need to undergo counseling from a HUD-approved agency before borrowing that money. The purpose is to make sure you ...

Still, reverse mortgage professionals should “be prepared for the unexpected, including higher interest rates and HMBS 2.0 postponement,” Kelly said.

The program itself started before 1961. The first U.S. reverse mortgage was issued in 1961 by the Deerfield Savings and Loan in Portland, Maine.

According to FHA’s recently released Annual Report to Congress, the overwhelming majority of reverse mortgage endorsements in fiscal year 2024 — 93.6% — took advantage of the standby line of ...