How can I estimate what my costs may be?

The borrower and the borrower’s family should be made fully aware of the costs incurred in obtaining a reverse mortgage.

Under the FHA HECM program, the Federal Reserve Board requires that the lender disclose to the prospective borrower a Total Annual Loan Cost, or “TALC” disclosure. It displays the total transaction costs over the projected life of the loan.

See related FAQ: What are reverse mortgage costs?

David Chee can provide you with a detailed, customized quote and explain the costs that are involved. Read about David here.

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