Reverse Mortgage Rates and Origination Fees for Thursday, October 20, 2016
Posted 9:30am EST
The best interest rate on adjustable-rate HECMs ticked down slightly on quotes reported by lenders this week.  The lowest origination fee was unchanged from the previous week.
Thursday, October 20 Report on Pricing of Adjustable-Rate2 HECM Reverse Mortgage3
Pricing by 6 competing Reverse Mortgage Lenders1 Interest Rate Origination Fee Maximum Cash Draw by Owner aged 65 with Home Equity of $300,0004
Lowest Interest Rate Oct 20 3.086% $4,500 $88,461 + $65,040
Change from October 13 -0.001% No Change No Change
Lowest Origination Fee Oct 20 3.586% $3,000 $89,961 + $65,040
Change from October 13 -0.001% No Change No Change
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
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.