Reverse mortgages are often advertised as “free money,” but they come with costs many seniors don’t see upfront.
Origination fees, closing costs, servicing fees, and mortgage insurance premiums can add up quickly—sometimes reducing the overall benefit of the loan.
Additionally, since interest accrues over time and isn’t paid monthly, your home equity can shrink faster than expected. This can leave fewer assets for heirs.
Understanding the full cost structure—and comparing lenders—is key to making a smart decision.
👇 Discover what fees to expect before signing a reverse mortgage 👇