For a reverse mortgage with: 20-year term loan amount $200,000 Interest rate 8% There is no origination fee What is the
Posted: Wed May 18, 2022 11:21 pm
For a reverse mortgage with:
20-year term
loan amount $200,000
Interest rate 8%
There is no origination fee
What is the effective cost of the loan if the senior lives out
the entire loan?
7%
16.23%
12.45%
8%
20-year term
loan amount $200,000
Interest rate 8%
There is no origination fee
What is the effective cost of the loan if the senior lives out
the entire loan?
7%
16.23%
12.45%
8%