Sierra View Reverse Mortgage

In general, mortgages are defined by how interest is applied to the loan as well as how that loan is repaid.With respect to interest, you may choose either a fixed or variable interest rate mortgage. Fixed rates feature an interest rate that will not change for the entire term. Alternatively, variable rate mortgages have interest rates that fluctuate according to the prime rate. Both types are available with different terms, usually from 6 months to 10 years. At the end of the term, you can repay the balance of your mortgage or negotiate a renewal of your mortgage terms.