---
title: What is the interest rate on most reverse mortgages?
description: "The interest rate on a [reverse mortgage](https://reversemortgageresourcecenter.com/reverse-mortgage/) depends on several factors, including the borrower's age, the current market rate, and the type of loan. If you have a fixed rate, your interest rate is determined when you close on your…"
url: "https://reversemortgageresourcecenter.com/faqs/what-is-the-interest-rate-on-most-reverse-mortgages/"
updated: "2023-02-23"
category: Reverse Mortgage
---

# What is the interest rate on most reverse mortgages?

The interest rate on a [reverse mortgage](https://reversemortgageresourcecenter.com/reverse-mortgage/) depends on several factors, including the borrower's age, the current market rate, and the type of loan. If you have a fixed rate, your interest rate is determined when you close on your reverse mortgage. If you have a variable rate, this rate can go up or down over time, depending on the market, as spelled out in your loan note.

[FAQ What is the interest rate on most reverse mortgages? | Reverse Mortgage Resource Center](https://www.youtube.com/embed/jRwgmG5Bpmk?list=PLIXdz9DLAFTC05MDPc_5QjKBB13v61zWS)

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