For a reverse mortgage with 20-year term loan amount $300,000 Interest rate 8% There is no origination fee What is the effective cost of the loan if the senior lives out the entire loan?

8.6%

8%

9.2%

8.7%

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Question

For a reverse mortgage with 20-year term loan amount $300,000 Interest rate 8% There is no origination fee What is the effective cost of the loan if the senior lives out the entire loan?

8.6%

8%

9.2%

8.7%

will give you rating asap if answer's correct.

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