Before taking a reverse mortgage, make sure you can stay in your home long-term, that it'll work as you age, and that you have nearby family or support. Interest rates matter less than whether this actually fits your life.
My biggest takeaway to anyone in this pursuing a reverse mortgage is to consider whether this product is right for you or not. It's not like just a regular mortgage where you're just, you know, what's the rate, what's the fee, okay, let's go. At this time in your life, if you're pursuing a reverse mortgage, you should also be thinking, can I stay in this home indefinitely? Is this where I wanna be? Am I close to family? Am I in a home that's not gonna be accessible in 10 years to me? I would prefer someone to take all of these things into consideration when they first look into a reverse mortgage, when they're investigating this, because it's more about suitability and making the right decision the first time where they want to take a reverse mortgage makes a big difference.
