Exactly what are the no. 1 differences when considering a keen HECM opposite mortgage and you may good jumbo opposite financial? Part of the improvement is the fact HECM reverse mortgage loans try federally controlled and require home loan insurance costs, if you are jumbo contrary mortgage loans commonly. Very contrary mortgages costs on step 3-4% of the home worthy of, having dos% planning FHA insurance coverage. Having jumbo opposite mortgage programs such as for example Longbridge Platinum, closing costs is down, similar to a simple forward home loan, with no dos% FHA commission.

Such, to the a $500,000 domestic, FHA insurance do prices $ten,000 initial. 続きを読む →