We actually have both a fixed and an adjustable rate product. Our fixed rate loans are for "lump sum" disbursement, so you would take out the entire amount of your loan up front. This is a good option if you are looking to use the majority of the funds to pay off your current mortgage or using a large portion of the fund for another large expense.

The ARM (Adjustable Rate Mortgage) loan is for line of credit loans where you are able to draw a little bit from your loan amount at a time. Your rate will be adjustable, so it is subject to change, however whatever loan funds are not drawn upon are also subject to grow with market rates.

Many people don't realize how versatile reverse mortgages can be. If you have any other questions, please call an AAG Professional. They are able to answer all your questions and inform you of all the different options you may have.

Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.