Origination Fees

Reverse Mortgage Home >>> Reverse Mortgage Origination Fees

The originator is the person who gets the ball rolling in your quest to acquire a reverse mortgage.  When you first meet with them, they will verify that the type of reverse mortgage loan you’ve chosen with your advisor is truly the best fit for your situation.  They’ll help you to complete your application.  Once the application is completed the originator will handle submitting it to the underwriter and the lender.

You’ll work closely with the originator during the course of your loan application process. For this reason, make sure you chose someone you feel comfortable with.

For their assistance, originators charge a fee.  The origination fees will be part of your closing costs.  This is yet another opportunity to save big money.  Find an originator with experience, a person you feel comfortable with, and a person that charges competitive rates.

Below are examples of the kind of savings you may find when you shop around for good rates on originator fees:

Appraised Value	FHA Guidance Fee	Bargain Origination Fee	Your Savings
$150,000	$3,000	$2,400	$600
$200,000	$4,000	$3,200	$800
$300,000	$5,000	$4,000	$1,000
$400,000	$6,000	$4,800	$1,200
$500,000	$6,000	$4,800	$1,200