A HUD reverse mortgage is a home mortgage for people over 62 years old and based on the equity on their homes. The owner needs to have accumulated enough equity in the home to qualify for the loan. It allows homeowners the possibility ... For this amount, the lender may charge you between $3,000 and $6,000. However, some lenders may offer zero points at a higher interest rate, which may significantly reduce your initial costs, although your payments may be somewhat higher.
