Loans provided by BNDES are based in the so called TJLP long-term interest rate, which currently stands at 5%, while traditional loans carry a premium over benchmark Selic rate, currently at 12.25%.
While most HECM reverse-mortgage options carry adjustable rates and offer a line of credit or annuity-like payouts over time, the sole fixed-rate HECM choice is available only with a lump-sum payout.