A cash-out refinance (what people would most commonly do in this circumstance) is just a regular refinance, so terms could be anything a refinance can have. Usu

A cash-out refinance (what people would most commonly do in this circumstance) is just a regular refinance, so terms could be anything a refinance can have. Usually fixed rate 30yr. A reverse mortgage is a different thing, IMO always a bad deal but I guess could be ok in some cases.