Will I have to pay any fees?

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.

 

Verified Reviews

(193)

Warms My Heart Thank you so much for your help and knowledge on Reverse Mortgage. This was something that really was a great alternative for Joel to continue to be able to stay in his home that he loves so very much. He’s very comfortable and happy which warms my heart. I’m just glad he goes to bed at night peacefully with no worries, so we thank you. Everyone was truly so kind. If I ever know of anyone who could use your help again, I definitely will recommend you .

Joel A (by Ramona S) — Jun 11, 2023

A Rocky Road Made Smooth My particular mortgage refinance was exceptionally complicated involving divorce decrees, lawyers and and settlement issues. Cutting to the chase, the situation was handled with professionalism and grace by my agent Larry McAnarney. At times when I felt like ripping my hair out, Larry was there to help each step of the way and keep the loan on track. It was a dedication far beyond what I would have expected. I'd recommend him to anyone seeking a reverse mortgage in a New York minute.

Rob M — Sep 24, 2015

Elderly Family Member We worked with Larry McAnarney to secure a reverse mortgage for an elderly family member. From beginning to end of this rather complicated process, Larry was extremely efficient, helpful, and knowledgeable. He shared with us all of the elements of this type of mortgage arrangement, explained clearly how it would work, and advised us of possible misunderstandings. When we had questions (as we did on multiple occasions), he answered them promptly and efficiently, both by email and telephone. He also followed up quickly to clarify some final issues and questions that arose as the closing approached and even after it had been completed. His manner was always professional and well informed. I would strongly recommend working with Larry in any matter related to mortgage financing or refinancing, especially so in regard to making a wise decision about a reverse mortgage.

Daniel P. — Mar 16, 2015

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