ARE THERE PREPAYMENT PENALTIES ON A REVERSE MORTGAGE?
Thomas Dasta (lendfm)
#31 ranked lender in Georgia - 59 contributions
No prepayment penalty. For the most part, they no longer exists. 678-571-7433.
William J Acres (William_Acres)
#75 ranked lender in Arizona - 8,728 contributions
No... reverse mortgages through FHA do not have any prepayment penalties.. If your reverse mortgage is not an FHA then it's possible you might have a prepayment.. If you get a reverse mortgage today, then no.. they you should be ok.. prepayment penalties are pretty much a thing of the past.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
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