Reverse Mortgage Rates and Origination Fees for Thursday, April 13, 2017
Posted 9:35am EST
The best interest rate on adjustable-rate HECMs ticked down on quotes reported by lenders this week.  The lowest reported origination fee was up (with an associated decline in maximum cash draw) on a significantly high rate quote.
Thursday, April 13 Report on Pricing of Adjustable-Rate2 HECM Reverse Mortgage3
Pricing by 7 competing Reverse Mortgage Lenders1 Interest Rate Origination Fee Maximum Cash Draw by Owner aged 65 with Home Equity of $300,0004
Lowest Interest Rate Apr 13 3.299% $4,500 $88,461 + $65,040
Change from Apr 6 -0.003% No Change No Change
Lowest Origination Fee Apr 13 4.549% $3,300 $89,661 + $65,040
Change from Apr 6 +0.371% +$801 -$801
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, The Federal Savings Bank, Goldwater Bank, Bank of England
2 Adjustable-rate pricing published every Thursday; Fixed-rate pricing published every Tuesday
3 Mortgages with a maximum rate adjustment of 5%
4 Part of credit line is available immediately, and part after 12 months

View historical market rates on HECM reverse mortgages.