How do you receive Reverse Mortgage funds?

Author: Gary Corriveau

Depending on your lender and plan, you may be able to get the money from your reverse mortgage loan either upfront (as a one-time lump sum) or partially upfront, with the rest spread out over time.

Opting for an upfront payment of a reverse mortgage will result in interest being charged on the entire loan from the first day. However, it may also result in you being charged a lower rate on the mortgage, depending on your lender.