Lisa Davis

Origination fee: $6,000 or less, paid to the lender.
Closing costs: These usually total between 2% and 5% of the loan.
Mortgage insurance: This is usually a one-time upfront fee of 2% of the property's value along with an annual premium of 0.5% of the outstanding home's balance.
Interest: Interest rates fluctuate. Reverse mortgage loan rates are usually slightly higher than traditional mortgage rates .
Service fees: If you are charged a service fee, it could be up to $35 a month.
Counseling: If you take out a HECM, the most common type of reverse mortgage, you're required to attend counseling from a HUD-approved reverse mortgage counseling agency. The cost varies depending on the agency and is typically around $125.

Editorial Assistant

Master's degree in communication.
Wrote content for Texas Lifestyle Magazine, RetailMeNot, and House Digest.
Finalist of the 2023 APEX Award for Publication Excellence and winner of the 2022 MarCom Platinum Award for Best in Shopping Branded Content.

Bio and experience

Lisa Davis turned her passion for writing into a career when she became an editorial assistant for Texas Lifestyle Magazine. From musicians to movie directors to philanthropists, Lisa has interviewed some of the most interesting people from Texas. She worked as a writer and editor at RetailMeNot, where she offered shopping and savings tips through content and interviews, covered breaking news, and wrote about trends in fashion, beauty, and home design.

In her spare time, Lisa loves watching Formula 1, spending time with her kids, and doing Pilates.

Education

Lisa graduated summa cum laude with a bachelor's degree in communication and public relations from Concordia University Texas. She also received a master's degree in communication and a master's certificate in sports communication from Texas Tech University, where she was recognized for academic achievement by Phi Kappa Phi.