Take away the complication and expense of reverse mortgages, and you have a formula that’s especially appealing to seniors. The new breed of reverse mortgage, known as the HECM saver, does just that. It requires only 0.01 percent of the home value in premiums upfront, so, for example, a borrower with a $300,000 house would owe just $30. The borrowing limits are lower, too, though, by 10 to 18 percent. And the Saver interest rate can be 0.25 to 0.5 percentage points higher than that on a standard reverse mortgage. These loans are best for customers who don’t need as much cash as traditional and won’t have the loan out for a long time, says Peter Bell, CEO of the National Reverse Mortgage Lenders Association.