Reverse Mortgage Rates and Origination Fees for Thursday, September 22, 2016
Posted 9:20am EST
For the second week the best interest rates on adjustable-rate HECMs ticked down slightly on quotes reported by lenders this week.  The lowest origination fee was unchanged.
Thursday, September 22 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 Sept 22 3.045% $4,500 $88,461 + $65,040
Change from September 15 -0.012% No Change No Change
Lowest Origination Fee Sept 22 4.295% $3,300 $89,661 + $65,040
Change from September 15 -0.012% 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.