No Origination Fee Reverse Mortgages. $0 Closing Fees HECM Loan in 2014. Get a Reverse Mortgage No Fees.

REVERSE MORTGAGE LENDERS DIRECT PRESENTS AN EXCLUSIVE OFFER. No Income No Credit Check – No Origination Fee – No Servicing Fee – No Mortgage Insurance Fee HECM Reverse Mortgage Loan Through Partnership.

Why pay for origination fees when we have an exclusive offer which can save you thousands between the closing costs & lenders fees. Lenders compete to win your business as they should, you sit back and receive the best quote, welcome to reverse mortgage lenders direct.

We set up our company in order to allow for seniors to easily and at no cost compare top HUD approved HECM lenders in order to secure the best quotes and free unbiased information online. So far we have helped thousands of seniors through our articles – call center – and online reverse mortgage quotes form. If you are seriously considering a reverse mortgage please understand that while every bank has the same reverse mortgage program they all charge different closing costs and fees therefore we are working hard for you to find a lender who will waive those HECM fees.

Origination fees – everyone knows that mortgages are expensive – we are all used to paying anywhere between $5k-$20K for a mortgage loan – we decided to recently team up with lenders who had the best interest rates and who can afford to NOT charge seniors are origination fee – therefore our current origination fee is $0. Most lenders will charge anywhere between .5-%3% for mortgage origination points thus adding many thousands to your closing costs.

Upfront mortgage insurance premium is 2% of the homes value – thus making it expensive to enjoy this loan option in retirement – as a home with an appraised value of $300,000 would have to pay $6,000 in mortgage insurance costs alone. The HECM saver has reduced the costs dramatically for these loans down to .01% but the drawback here is the adjustable interest rates and the amount of equity which can be borrowed is 15%+ less than with a regular HECM Standard.

Servicing fees – many lenders charge up to $30 a month for the life of the loan in servicing fees – this can add to many thousands of dollars over the loans term. Seniors can  save money by choosing a lender that does not have a servicing fee/charge.

HECM Saver Fixed is currently one of the best options for those who are trying to avoid the high fees – we have multiple lenders who are waiving all fees in order to secure more clients. This is a great time to consider securing one as interest rates are low.

Out of Pocket Fees Reverse Mortgage

There are only 2 costs which you will need to pay for out of your pocket – you can technically pay for these costs with a credit card which in a way is financing the costs. Every lender will have you pay for these two fees – this is not something that depends on the bank.

1.     HUD counseling

2.     FHA appraisal

FAQ – No fee reverse mortgages for seniors

Does a no fee reverse mortgage exist – if so how do I qualify for it?

yes – we are working with some top lenders nationwide who can offer you a no origination fee – no mortgage insurance fee reverse mortgage option. This is an exclusive offer though our website.

How come my bank/lender wants to charge me origination fees while you are able to get a no fee HECM loan?

Banks/lenders have strict guidelines to follow – where our banks/lenders have more flexibility in acquiring their clients – many of these banks are smaller federally chartered banks – community banks – thus they depend on new clients more than larger banks – and are constantly offering deals in order to secure new clients. We happen to be one of the few websites which offers a no fee reverse mortgage for seniors through our partners.

Are there hidden fees or something im not aware of with this option?

No hidden fees, each bank/lender has some internal differences to they price their loans (interest rates they give/equity analysis etc) -most importantly we will chat with out to make sure this is the right HECM program for you – as right now we can only give this offer on a fixed rate option – so those looking for adjustable rates or those who can benefit more from an adjustable rate should have a review of their specific situation.

Are there any advantages to paying fees? are there some programs which cannot be fee free?

There are no advantages to paying fees for the HECM reverse mortgage, there is only 1 federally insured program, some lenders will try to trick you into thinking their product is unique but it is not – there are so many lenders out there who can do the same loan for less money we simply help you find those faster and cheaper (time is money). The HECM saver can come with upfront fees – since there are times when the lender will not make money unless they charge you an upfront fee.

Is this a scam – I have never heard of a no fee hecm reverse loan before?

Definitely not – the HECM loan is a government insured loan only being lend through FHA approved lenders – the offer is a specific offer for those seniors who want to avoid exuberant fees – we are able to find your a reverse mortgage lender who is not going to charge you an origination fee on the fixed standard reverse mortgage lump sum program- now remember there is only one reverse mortgage program but there are many lenders thus they are all competing for your loan. We know and have a working relationship with the lenders who are willing to reduce their fees which will come to huge savings for your pockets – exactly what you should be looking for if you are interested in this program.

You have worked hard your entire life to build up your equity now its time for your home to help you in your retirement years, let us find the right lender who wont overcharge you for the HECM loan. Having access to lenders who will waive the origination fee, mip, or lower the interest rates is essential for savvy seniors who want to explore the HECM options, we have done our due diligence in teaming up with these lenders so you can enjoy these benefits.

I want to secure a No fee reverse mortgage what are the steps involved:

Give us a call at our toll free number 888-975-1367 or fill out the quote form at top of the page – the process is not complicated and there are only a few steps involved in securing the HECM loan for your retirement. We spend as much time as you need in explaining what is a reverse mortgage and how does a reverse mortgage work. We will receive your information to make sure you qualify, then the appraisal will be ordered along with the mandatory HUD counseling session, the loan then will be underwritten, followed by the closing – throughout the process we are available to answer any questions that may appear but your HECM Lender will be the one who is going to provide this service.

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