Fixed Rate Service Fee is Now $0

In an effort to remain competitive in today’s market, we have eliminated our monthly service fee on the fixed rate reverse mortgage. Traditionally, this fee would range from $25 – $30. This change will provide additional cash benefit toward the Principal Limit and help those  those just short of qualifying, in obtaining a reverse mortgage that provides more for them than most lenders can offer. This change will also benefit those looking to use a reverse mortgage for home purchase.

We are very excited to offer this benefit to our clients! In fact, with the 5.56% fixed rate reverse mortgage, someone at age 70 with a home value of $225,000 would see an increase in net benefit of about $5,000 when compared to the $30 monthly service fee.

Let’s look at an illustration:

* The above example if for illustrative purposes only. Everyone’s situation will differ. For an exact quote, please visit: Reverse Mortgage Quote.

Links of Interest:

Fixed Rate Reverse Mortgage

Reverse Mortgage Rates

Other Articles of Interest:

Reverse Mortgage Rate Costs

My Reverse Mortgage Costs How Much?

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