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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.
Lenders often charge a loan origination fee for the service they provide during the process. What does this mean in dollars? It depends on how much you need to borrow. These fees usually fall between 0.5% and 1% of the loan - so for a $250,000 mortgage, you'll pay $2,500 for the origination fee. What Is Loan Origination?