Eden Lake Township is located in Township 122 North of the Arkansas Base Line and Range 31 West of the 5th Principal Meridian. Demographics As of the census of 2000, there were 1,526 people, 532 households, and 425 families residing in the township.
An average reverse mortgage costs close to $13,000, and is paid from the proceeds of the loan. That being said, closing costs are customizable, with some reverse mortgages costing closer to $2,500.No. The money you receive from a reverse mortgage is yours, and can be used for whatever you like.n average reverse mortgage costs close to $13,000, and is paid from the proceeds of the loan. That being said, closing costs are customizable, with some reverse mortgages costing closer to $2,500.
The FHA, unlike other reverse-mortgage lenders, has a legal limit on how big an amount you can borrow against. The maximum home value that can be used for calculating the size of the HECM is $625,000, even if the home appraises for more, HUD states. According to the Mortgage Loan Place, you can borrow a maximum of 80 percent of the home's value, provided you're old enough to qualify for that much.