Housing Affordability
May 18, 2022Did you know?
May 24, 2022And my last installment… 😮💨
Reverse Mortgage Misconceptions
5. Arranging a reverse mortgage is very expensive ![🤔](https://static.xx.fbcdn.net/images/emoji.php/v9/t8d/1.5/16/1f914.png)
![🤔](https://static.xx.fbcdn.net/images/emoji.php/v9/t8d/1.5/16/1f914.png)
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.