COSTS TO GET A REVERSE MORTGAGE

1. Higher interest rate than for a traditional mortgage.
2. A home appraisal fee.
3. A setup fee.
4. Legal fees for closing costs or independent legal advice.
5. The costs will vary depending on the lender so we will compare upfront.

It is important to know what costs are associated with any mortgage, when they are due and at what point in time.

WE WILL COMPARE THE COSTS FOR YOU IN ANY OF THE FOLLOWING POTENTIAL ALTERNATIVES:

1. Getting another type of loan, such as a personal loan, line of credit or credit card.
2. Selling your home.
3. Buying a smaller home.
4. Renting another home or apartment.
5. Moving into assisted living, or other alternative housing.