Reverse Mortgage Rates and Origination Fees for Thursday, June 1, 2017
Posted 9:35am EST
The best interest rate on adjustable-rate HECMs edged down this week on quotes reported by lenders.  The lowest reported origination fee was also down on a slightly lower rate quote.
Thursday, June 1 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 June 1 3.221% $4,250 $90,190 + $65,040
Change from May 25 -0.002 No Change +$1,380
Lowest Origination Fee June 1 3.721% $2,975 $91,465 + $65,040
Change from May 25 -0.002 -$225 +$1,605
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, Longbridge Financial
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.