Understand Reverse Mortgage Costs
Compare fees, interest rates, and closing costs. Get clear, unbiased information to help you make the right choice for your retirement.
Latest Guides & Cost Breakdowns
Understanding the Lender's Margin on a Reverse Mortgage
November 28, 2023
Learn what the lender's margin is, how it affects your compounding interest, and how to negotiate a better rate.
What is a Life Expectancy Set-Aside (LESA)?
November 26, 2023
Understand how a LESA works in a reverse mortgage, why lenders require it, and how it impacts your available cash.
HECM for Purchase: Buying a New Home with a Reverse Mortgage
November 23, 2023
Learn how the HECM for Purchase program allows seniors to buy a new home and secure a reverse mortgage in a single transaction.
Will a Reverse Mortgage Affect My Medicaid or SSI Benefits?
November 20, 2023
How reverse mortgage proceeds are treated by government assistance programs, and how to avoid losing your Medicaid eligibility.
Reverse Mortgage Scams: 5 Red Flags to Watch Out For
November 18, 2023
Learn how to spot predatory lending tactics, contractor fraud, and common reverse mortgage scams targeting seniors.
What Happens to a Reverse Mortgage When You Die?
November 15, 2023
A step-by-step guide for heirs navigating a reverse mortgage after the borrower passes away.
The Non-Borrowing Spouse: Protections and Risks
November 12, 2023
What happens if one spouse is under 62? Learn about Eligible Non-Borrowing Spouse protections in a reverse mortgage.
Texas Reverse Mortgages: Constitutional Restrictions Explained
November 10, 2023
Why getting a reverse mortgage in Texas is different due to the Texas Constitution's strict home equity laws.
California Reverse Mortgage Laws: The 7-Day Cooling Off Period
November 07, 2023
Understanding California's strict consumer protection laws for reverse mortgages, including mandatory cooling-off periods.
Reverse Mortgages in Florida: State-Specific Rules and Costs
November 05, 2023
A guide to getting a reverse mortgage in Florida, including state documentary stamp taxes and homestead exemptions.
HELOC vs. Reverse Mortgage: Comparing Home Equity Options
November 03, 2023
Understand the critical differences between a Home Equity Line of Credit (HELOC) and a reverse mortgage for seniors.
Reverse Mortgage vs. Downsizing: Which is Better for Retirement?
November 01, 2023
An objective comparison of taking out a reverse mortgage versus selling your home and downsizing to fund retirement.
Can You Pay Off a Reverse Mortgage Early? (Prepayment Penalties)
October 28, 2023
Exploring your rights to repay a reverse mortgage early and why there are no prepayment penalties.
Proprietary (Jumbo) Reverse Mortgages: Costs and Differences
October 25, 2023
How the costs of a private, jumbo reverse mortgage differ from a federally-insured HECM for high-value homes.
The Hidden 'Cost': Property Taxes and Homeowners Insurance
October 22, 2023
Why you must continue to pay property taxes and insurance on a reverse mortgage, and what happens if you default.
Reverse Mortgage Servicing Fees: Are They Still Charged?
October 20, 2023
An explanation of monthly servicing fees on reverse mortgages and why most lenders in 2024 have eliminated them.
Reverse Mortgage Interest Rates: Fixed vs. Variable
October 18, 2023
How interest rates work on a reverse mortgage, the difference between fixed and adjustable rates, and how it impacts your loan balance.
Title, Recording, and Closing Fees on a Reverse Mortgage
October 15, 2023
A breakdown of the third-party closing costs associated with a reverse mortgage, including title insurance and recording fees.
Reverse Mortgage Counseling: Costs and What to Expect
October 12, 2023
Learn about mandatory HUD counseling for reverse mortgages, how much it costs, and why it is a crucial consumer protection step.
The Upfront MIP: Decoding the HECM Mortgage Insurance Premium
October 10, 2023
A detailed explanation of the 2% upfront FHA Mortgage Insurance Premium, why it exists, and how it protects you.
Reverse Mortgage Appraisal Costs: Expected Fees in 2024
October 05, 2023
Everything you need to know about FHA appraisal requirements, costs, and the dreaded 'second appraisal' rule.
Understanding HECM Origination Fees: What You Actually Pay
October 01, 2023
A deep dive into how reverse mortgage origination fees are calculated by HUD, state caps, and how to negotiate them.