Are there fees or charges involved in obtaining a Reverse Mortgage?
Like other mortgage loans there will be an origination fee, closing costs, and a mortgage insurance premium. Since most of these fees may be financed, you may not have to pay for them up front. An appraisal and credit report fee will also be collected when you apply, but these charges may be financed in your loan. A servicing fee will be set aside up front and charged monthly over the life of the loan.
