Fairway lending mortgage rates

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This option is available fairway lending mortgage rates both a fixed-rate or adjustable-rate HECM loan. You can receive the bureaue credit payments for a set amount of time, known as term payments, or you can choose to receive monthly payments throughout the life of your loan, known as tenure payments.

This option is only available for the adjustable-rate HECM. A reverse mortgage line of credit is a payment option that puts your proceeds into a line of credit that you can access whenever you need, similar to a home equity line of credit HELOC.

As long as you have the loan, the line of credit cannot be suspended or called due. The line of credit payment option is only available fairway lending mortgage rates an adjustable-rate HECM.