Interest rates for reverse mortgages, both fixed and variable, are based on market rates at the time your loan is closed. Please contact one of our reverse mortgage professionals, and they will be able to give you more information based on your specific situation. Closing costs then include appraisal, counseling, origination and title fees, but many of these costs can be added to the loan and do not come out of your pocket. It is best to check with a reverse mortgage professional and see which fees apply to you.

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.