With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed with your loan, so there’s no immediate out-of-pocket cost. The costs are added to the loan amount (“principal”) and paid along with the accrued interest when the loan becomes due. Depending on the loan option you choose, these fees may include an origination fee, closing costs, a mortgage insurance premium (required for HECM loans) and a monthly servicing fee. We will let you know exactly what costs are involved.
Ask us about our Low-Cost Equity Elite pricing option, which eliminates nearly all origination and closing costs.
A Pleasure to Work With Larry was a pleasure to work with. He was very knowledgeable, pleasant, and patient with our endless questions and phone calls. He kept us updated with the next steps both by email and phone as well as providing us with a packet of information which helped us understand the reverse mortgage process. We would certainly recommend him to anyone considering a reverse mortgage
Bud & Betty C — Dec 5, 2018
Recommended by My Financial Planner Larry was sooo patient and guided me through the whole process. My circumstances were more complicated than usual and when I would get frustrated Larry spoke to me in a calming voice and explained that it was part of the process of obtaining approval. Thank you Larry
Sandi C — Jan 18, 2019
Larry Takes the Time Necessary Larry takes the time necessary to make sure everyone in both the purchasing and selling groups understand the complete Reverse Mortgage for Purchase program. Larry does not hurry through the answers to questions, but does not waste time either. He will be the one suggested on any future transactions that need his help and assistance.
Ray King Dickerson & Nieman Realtors — Feb 17, 2020