Reverse Mortgage Rates and Origination Fees for Thursday, May 11, 2017
Posted 9:35am EST
The best interest rate on adjustable-rate HECMs ticked up this week on quotes reported by lenders.  The lowest reported origination fee was up on a slighty higher rate quote.
Thursday, May 11 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 May 11 3.279% $4,250 $88,711 + $65,040
Change from May 4 +0.005% -$250 +$250
Lowest Origination Fee May 11 4.529% $3,300 $89,661 + $65,040
Change from May 4 +0.005% +$800 -$800
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.