How can we offer a "Flat Origination Fee" for our portion of the closing costs when most other Reverse Mortgage companies are quoting up to $7200.00 for their origination fees? 

Here's some insider information:

- We all have the exact same FHA Reverse Mortgage loan programs.  Whether you obtain your Reverse Mortgage loan from one of the large banks, nationwide mortgage companies or a mortgage broker. The FHA-HECM (home equity conversion mortgage) is identical no matter which lender you work with.  The programs, rates and fees that we have available are also the same.

Most of the larger banks and mortgage companies have to charge you the full origination fee (up to $7200) based on FHA limits in California.  They are large companies and have huge amounts of overhead and employee expenses.  The Reverse Mortgage loan agent you work with may have some Reverse Mortgage loan experience and may or may not provide you with personalized, excellent customer service.

In the business of Reverse Mortgages, paying more does not mean you get a better rate, better loan program or better service.  You are paying more because the large companies have a minimum profit margin on each loan they close.  You are simply "paying more" because they charge more.  They usually charge the maximum allowed by law.

At the Reverse Mortgage Connection we are "seasoned" Reverse Mortgage specialists.  We are a small company, which enables us to offer you our "flat fee" origination fee program.  We have all of the experience, knowledge and resources as the big guys at a fraction of the cost.  We have worked with hundreds of satisfied Reverse Mortgage clients over the past 4 years and we "specialize" in Reverse Mortgages. 

Here are a few tips to remember when shopping around for a Reverse Mortgage:  

1.  Always ask how many Reverse Mortgage loans the person on the other end of the phone has closed.  You want to work with someone who has years of experience at this, not just started and is using your loan as a learning experience.  

2.  Always ask if the fees are negotiable, chances are, if they work for one of the large lenders out there, there will be little if any room to negotiate. 

3.  Ask them for a name or names of a prior customer who has recently closed a reverse mortgage.  Most prior customers will be happy to help another person who is thinking of this as an option. 

Remember, unlike a retail store, you don't have to pay a Nordstroms price to get Nordstrom service.

Call us or e-mail for more information:  916 415-0204   RMConnection@gmail.com