Reverse Mortgage Analyst

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Actived: Saturday Nov 28, 2020

URL: https://rmc.ibisreverse.com/

Ibis Reverse Mortgage Analyst

Details: Less HUD mortgage insurance: Less loan origination fee: Less third-party closing costs: Less service fee set-aside: HECM funds available after closing: Purchase price of your new home: less your new mortgage debt: Equity in your new home: HECM: 1-mo. LIBOR: Monthly: $350,000-0 $0: 0.152% 2.200% 2.352% 0.50%

› Verified 2 months ago

› Url: https://rmc.ibisreverse.com/rmc_pages/rmc_hfhp/rmc_hfhp_2.aspx Go Now

› Get more:  MortgageGo Now

Summary of Loan Terms - rmc.ibisreverse.com

Details: The effective loan rate below equals the interest rate index used by the program plus a lender's margin (which varies among lenders on adjusting-rate HECM's). HECM adds another one and a quarter percent (1.25%) for mortgage insurance.

› Verified 5 days ago

› Url: https://rmc.ibisreverse.com/rmc_pages/rmc_nrmla/nrmla_summary.aspx Go Now

› Get more:  MortgageGo Now


Details: HECM reverse mortgages that are assigned HUD case numbers on or after Monday, October 4, 2010, will have their ongoing Mortgage Insurance Premium (MIP) increase from 0.50% per annum to 1.25% per annum.MIP is not interest, but it affects loan balance accruals the same way, so this is effectively an interest rate increase of 3/4 of one percent.

› Verified 6 days ago

› Url: https://rmc.ibisreverse.com/rmc_pages/rmc_ibis/ibis_index.aspx Go Now

› Get more:  MortgageGo Now