Reverse Mortgage Rates and Origination Fees for Thursday, August 13 2020
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey was unchanged this week on an unchanged origination fee. The lowest origination fee was alo unchanged.
Thursday, August 13 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 August 13 1.699% $6,000 $82,701 + $66,484
Change August 6 no change no change no change
Lowest Origination Fee August 13 2.439% $2,500 $86,201 + $66,977
Change from August 6 no change no change no change
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, Mid America Mortgage, Goodlife Home Loans, Longbridge Financial, Centennial Home Mortgage, Mutual of Omaha Mortgage
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.