What kind of reverse mortgage rates and fees can I expect?

Reverse Mortgage Interest Rates

Under the FHA HECM program, the Federal Reserve Board requires that the lender disclose reverse mortgage rates to the prospective borrower in the form of a Total Annual Loan Cost, or “TALC” disclosure. This displays the total transaction costs over the projected life of the loan, including the interest due once the borrower leaves the property on which the RM has been placed. A mortgage adviser will help you find appropriate reverse mortgage rates given your individual situation. The borrower and the borrower’s family should be made fully aware of the costs incurred by the reverse mortgage rate.

Read more about Fixed versus Adjustable interest rates.

Reverse Mortgage Fees

Reverse mortgage fees are typically comprised of:

  • FHA Insurance (for HECM reverse mortgages) or Mortgage Insurance Premium (MIP)
  • Origination fees
  • Closing costs like: Title insurance, Escrow fees, Appraisal, Notary fees


David Chee can explain the reverse mortgage rates and fees, as well as provide you with the current reverse mortgage rates.

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