CALL US NOW!  What Fees Do I Have to Pay?As with traditional mortgages, there are costs associated with obtaining a reverse mortgage. Generally, the expenses are not a burden to the homeowner as these fees are almost always financed as part the reverse mortgage itself. Reverse mortgage fees are regulated by the Department of Housing and Urban Development (HUD) and may include an origination fee, closing costs, and a mortgage insurance premium (MIP). To learn more about HUD and their involvement with the only reverse mortgage insured by the U.S Federal Government, the Home Equity Conversion Mortgage or HECM, visit HUD FHA Reverse Mortgage for Senior (HECM). There you’ll find helpful FAQs, fact sheets, and related publications. The interest rate on your reverse mortgage loan is determined by the type of loan you choose. You can discuss your options with one of our Consultants during the application process.     A+ BBB Rating |
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Copyright © 2012 - Generation Mortgage Company | A Reverse Mortgage Company for Seniors 62 and Over. All Rights Reserved.
NMLS #1319; Corporate Office: 3 Piedmont Center, 3565 Piedmont Rd NE, Ste 300, Atlanta, GA 30305; Arizona Mortgage Banker License #0909296, 6740 E. Camelback Rd, Ste 104, Scottsdale, AZ 85251; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; Colorado, To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm; In CT, licensed and DBA as Generation Reverse Mortgage, Inc.; Georgia Residential Mortgage Licensee #22292, Generation Mortgage Company, 3 Piedmont Ctr, 3565 Piedmont Road NE, Ste 300, Atlanta, GA 30305; Illinois Residential Mortgage Licensee #MB.6760368; Kansas Licensed Mortgage Company #MC.0001660; Massachusetts Mortgage Lender-ML3240; Licensed by the Mississippi Department of Banking & Consumer Finance; Nevada #2970, 907 Tahoe Blvd, Ste 2, Incline Village, NV 89451, Phone # 775-831-0161; Licensed by the New Hampshire Banking Department as Generation Mortgage Company d/b/a Generation Mortgage Company, Inc; Licensed by the N.J. Department of Banking and Insurance, 51 JFK Parkway, Ste 114, First Floor West, Short Hills, NJ 07078, Phone #973-218-2418; Licensed Mortgage Banker- NYS Department of Financial Services; Oregon License #ML-4445, Licensed by the Pennsylvania Department of Banking; Rhode Island Licensed Lender; TEXAS: COMPLAINTS REGARDING A LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD BE SENT TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. Licensed by the Virginia State Corporation Commission #MC-4832; Washington #CL-1319; Also conducts business in AL, AR, DC, DE, FL, HI, IA, ID, IN, KY, LA, MD, ME, MI, MN, MT, NC, ND, NE, NM, OH, OK, PR, SC, SD, TN (License #3543), UT, VT, WI, WV, WY. Not all products and options are available in all states. Terms subject to change without notice. Some people portrayed are professional models. ©2012 Generation Mortgage Company. All Rights Reserved.