Finance of America Reverse announced it has taken steps to reduce the cost of two of its most popular proprietary reverse mortgage products, the HomeSafe Standard and the HomeSafe Flex.

The lender said it has dropped origination fees – reducing overall cost by about $7,000 to $8,000 – and is offering lender credits on customary closing costs on certain products for eligible borrowers.

FAR said the change is intended to offer borrowers more cost-effective loan options when considering a reverse mortgage, a move that directly combats the long-held criticism that reverse mortgages are too expensive.

Sponsor Content

FAR,

Read More At:  Article Source