At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds
Charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees
The loan balance grows over time and interest is charged on the outstanding balance
The borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home
Interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full re-payment
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