For a reverse mortgage with: 20-year term loan amount $200,000 Interest rate 8% There is no origination fee If the origi
Posted: Wed May 18, 2022 11:22 pm
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%
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%