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The origination fee is what the reverse mortgage lender earns on the loan. The FHA uses a formula to determine what the lender can charge. The formula is: 1  2% of the first $200,000 of the propertyâs value and 1% of the amount over $200,000. 2  A maximum of a $6,000 origination fee.
(250,000 x .00875). While they are not calling it an origination fee they are still charging you $2,187.50 to get a loan with an interest rate of 4.125%. As a mortgage broker, I have a lender that I work with whose rate today is 3.625% for a 30 year fixed loan.There are NO POINTS to get this rate but I may charge an $1875 origination fee. Already by going with a broker (as in this scenario) you are saving $312. (2187.50 aâ¬â Ã¢). 1875ric-Origination fees on brokered loans are usually included in their rate. Most mortgage bankers/brokers do not charge an application fee as most banks and credit unions which may vary from $395 to $795. With a mortgage banker you may find loan programs that your or your realtor could not find on their own.