Below is some of the detail surrounding the change effective April 1, 2013 on the fixed rate Reverse Mortgage loan.   In simple terms one can obtain a fixed rate loan today. After April 1 2013, what is called the Standard fixed rate product becomes replaced with the Saver fixed rate product which in the end, provides less proceeds. However, in the past, today and going forward, the upfront closing costs are lower with the Saver because the upfront mortgage insurance premium is pennies on the dollar. Proceeds while less, are often most adequate for realizing the borrowers goals. Each client of mine is so unique and the appropriate program is determined by their particular needs. If more loan proceeds are required the HECM Standard adjustable rate product does indeed address that concern and is available. The Reverse Mortgage program at large is growing, demand and interest continues and as always it is a privilege to serve you. The shifting of available product this year is all about FHA and the insurance fund. Rest assured it is going to be a great year for seniors 62 and over! Call or email me any time for  refinance or purchase questions; I can help! read more