Reverse Mortgage Misconceptions – Installment 5.

And my last installment… 😮‍💨

Reverse Mortgage Misconceptions

5. Arranging a reverse mortgage is very expensive

This is also untrue. Much like a conventional mortgage, reverse mortgages require you to pay for a property appraisal and independent legal advice. The only additional cost is a one-off closing and administration fee. When compared to the cost of down sizing to a new home, a reverse mortgage is a much more affordable option.