Reverse Mortgage Rates and Origination Fees for Thursday, August 25, 2016
by Jack Guttentag
Posted 9:15am EST
The best interest rates ticked down slightly on quotes reported by lenders this week.  The lowest origination fee was up, resulting in a corresponding reduction in maximum cash draw.
Thursday, August 25 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 August 25 3.023% $4,500 $88,461 + $65,040
Change from August 18 -0.003% No Change No Change
Lowest Origination Fee August 25 4.273% $3,300 $89,461 + $65,240
Change from August 18 -0.003% +$800 -$1,000
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
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View historical market rates on HECM reverse mortgages.