What are my closing costs?
The only closing costs you will incur are the following: • Brokers commission if you used a broker • Real estate transfer taxes • Title insurance • Your own attorney’s fees • Any real estate taxes or condominium fees which are in arrears • Viager USA pays the rest. Appraisal fees, etc… • What is the main difference between Viager USA’s program and a reverse mortgage? • Viager USA bases all their payments on 100% of fair market value. • Viager USA has no up front fees. Most reverse mortgages charge substantial fees of the loan up front. • Since Viager USA is not a loan it never has to be paid back. • When you move you keep getting paid. In a reverse mortgage when you move out of the unit the mortgage has to be paid back. • Viager USA pays for life. In a reverse mortgage when you reach a maximum dollar amount, all payments stop. If you have any further questions our professional representatives will be happy to discuss them with you, your legal counsel or your heirs.
