Below is some information about them. As a mortgage broker in Palm Beach county, I am often asked about Reverse Mortgages and how they work. ...You must be at least 62 years old and own a home. 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.
