Kosher vs Standard HECM Mortgage Comparison

How the Kosher HECM Reverse Mortgage Is Different
Kosher vs Standard HECM Mortgage Comparison
Feature Kosher Reverse Mortgage Mainstream Reverse Mortgage
Price Transparency Yes, lenders post complete prices on this site. More No, lenders keep their prices under wraps
Guidance on Options Best, based on state-of-the-art calculator and guidance from disinterested experts. More Hit or miss, seniors consult loan officers selected primarily for their sales skills
Equity Remaining Calculator shows the best possible estimate of home equity remaining for the senior's estate. More Not generally available.
Price Competition Yes, seniors can select the best price on their desired HECM option from those offered by competing lenders. More No, almost all seniors accept the prices of the one loan provider they contact.
Price Lock Protection Yes, locked prices must be identical to current prices, which seniors can check. More No, lenders can cheat with impunity when they lock.
Availability of Low-Cost Loans Yes, lenders compete with regard to origination fees as well as interest rates. Maybe, depending on the lender.
Availability of Shopping Guide Yes, seniors who go through the kosher process end up with the data needed to shop the mainstream market. Not a chance!
Availability of Ombudsman Yes, the professor and his colleagues will act as ombudsmen if issues arise between the senior and the lender. No.
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