Reverse Mortgage Fees

Understanding Reverse Mortgage Fees

Reverse mortgage fees can be daunting to someone first becoming familiar with the reverse mortgage. Reverse mortgage fees are higher than with most other mortgage products, and usually represent between 5-7% of the homes value. Reverse mortgage fees involve several components:

  • >>Origination Fee
  • >>Mortgage Insurance
  • >>Appraisal Fee
  • >>Various Closing Fees

To learn more about reverse mortgage fees, or to request Information on Reverse Mortgages, please contact a Reverse Mortgages Specialist today. There is no obligation, and the information is free. You may also visit the following link to return to the ReverseMortgage home page.

Verified Reviews

(195)

Power of Attorney Larry McAnarney was very helpful with my reverse mortgage application and execution. I had a situation where my wife couldnt sign, so I had to use a power of attorney. Larry was very understanding and helpful throughout the process.    

Al & Linda M — Aug 7, 2019

We Would Totally Recommend Larry We would totally recommend Larry for your reverse mortgage needs. He walked us through every step making sure we understood what was transpiring. We could reach him easily when we had questions. Larry’s guidance was very helpful and in addition he is a very nice man.    

Charles & Sharon T — May 12, 2020

Worked well for us! My wife and I had been discussing reverse mortgage for some time. We had heard all the pros and cons of doing this type of mortgage and the pros won out. We have a house that was built in 1976 and we have been in it since 1991. We have really done no updates on it and it was really needing some remodeling. We were just not able to afford all the stuff that it needed. We could not find anyone in our area that did reverse mortgage so I got on the internet and did some searches. A few days later I got a call from Larry McAnarney. I told Larry that I came from the "old school" and was use to doing business face to face, but since he was in Illinois and we were in Texas it made it a little difficult. However, to make a long story short, Larry explained everything to our satisfaction and we started the process. We had to go to a counseling session so that we understood the process. After that it was pretty simple. Thanks to Larry McAnarney.

Joe G — Apr 14, 2015

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