For a reverse mortgage with: 20-year term loan amount $200,000 Interest rate 8% There is no origination fee If the origi

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answerhappygod
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For a reverse mortgage with: 20-year term loan amount $200,000 Interest rate 8% There is no origination fee If the origi

Post by answerhappygod »

For a reverse mortgage with:
20-year term
loan amount $200,000
Interest rate 8%
There is no origination fee
If the origination fee is $4,000, what is the effective cost if
the senior passes away in 5 years?
23.45%
12.45%
22.61%
16.23%
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