Reverse Mortgage Rates and Origination Fees for Thursday, August 11, 2016
by Jack Guttentag
Posted 10:00am EST
The best interest rate is lower this week and the best origination fee unchanged compared to quotes reported by lenders from last week.
Thursday, August 11 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 11 2.504% $3,000 $91,440 + $65,040
Change from August 4 -0.428% -$1,500 +$21
Lowest Origination Fee August 11 4.225% $2,500 $91,940 + $65,040
Change from August 4 +0.043% No Change +$521
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.