The Reverse Mortgage HECM Fixed is similar to the Libor but is fixed as the name suggests. Fixed rate hover between around 4 and 5%. The fixed rate is good because it offers a low fixed rate but it does require the borrower to take all of their funds in a lump sum which means interest is being charged on the whole amount right away. So the fixed is a better loan for a borrower using all or almost all of their funds to pay off their current loan. It may not be best for the borrower that is getting a large sum of money and does need access to all of that money right away.