Loan Options

MetLife Bank offers reverse mortgages with interest rates that may be lower than other lenders. We can help you understand the options available to you and what value they can bring to your situation. Contact one of our reverse mortgage consultants for more information.

• Fixed-Rate Home Equity Conversion Mortgage

  Lock in an interest rate for the entire life of your loan and take 100% of your funds at closing with a fixed-rate Home Equity Conversion Mortgage (HECM). With this government-insured loan, you will always know exactly how much interest is accruing on your reverse mortgage—and eliminate any worry that the rate may increase.

• Adjustable-Rate Home Equity Conversion Mortgage

  The adjustable-rate Home Equity Conversion Mortgage (HECM) is also government insured - but may provide you with greater flexibility, because it generally provides more options for you to receive your reverse mortgage proceeds (e.g., as a line of credit, monthly payment, lump sum, or a combination of these). And the adjustable-rate HECM may be offered at lower interest rates.

• HECM Saver Reverse Mortgage

  This lower-cost reverse mortgage requires significantly less in up-front costs as compared to the HECM Standard reverse mortgage. As a result, HECM Saver can save the average homeowner age 62 and older thousands of dollars. The amount of money that can be borrowed is less than with the HECM Standard, but the lower up-front costs may make it an attractive option.

• Home Equity Conversion Mortgage for Purchase

  A Home Equity Conversion Mortgage (HECM) for Purchase helps you purchase a home by taking out a reverse mortgage on that home. It's applicable for the purchase of a one- to four-family dwelling unit, to be occupied as a principal residence only. It could help you move to a home that will better fit your future needs.

Refinancing

One of the most often asked questions about reverse mortgages is: can they be refinanced? The answer is yes. And in fact, refinancing can be a useful option if your home increases in value - making more equity available for you to access. Please note that the appraised value of your home may affect your loan amount.

Whatever product you select, MetLife can provide you with information and assistance throughout the reverse mortgage process. Try using our reverse mortgage calculator, or contact a mortgage consultant today for more information.