Lower Reverse Mortgage Fees – Similar to Refinancing

lower reverse mortgage feesLower Reverse Mortgage Fees are available if borrowers choose the HECM Saver option over the HECM Standard reverse mortgage.

In the past, financial planners and investment advisers have been reluctant to suggest a reverse mortgage loan to their clients due to the high costs associated with this type of home equity loan.

However, since the HECM Saver arrived on the scene about a year ago, more financial planners are taking a second look at this loan as a viable tool for helping clients manage their assets during retirement.

Mr. Barry Armstrong, a financial planner with Securities America, and regularly featured on New England Cable News. Mr. Armstrong suggests that using the HECM Saver, which carries lower reverse mortgage fees, that this loan is comparable to the cost of a regular refinance mortgage transaction. (But, of course with a reverse loan you would not be required to make monthly mortgage payments like you would on a standard refinance loan.)

Free Reverse Mortgage Quote