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For a reverse mortgage with: 20-year term loan amount $200,000 Interest rate 8% There is no origination fee If the origination fee is $4,000, what
For a reverse mortgage with:
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20-year term
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loan amount $200,000
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Interest rate 8%
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There is no origination fee
If the origination fee is $4,000, what is the effective cost if the senior lives out the entire loan?
12.45%
7%
8.88%
16.23%
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