Reverse Mortgage Rates and Origination Fees for Thursday, August 20 2020
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey edged up by 0.012% on an unchanged origination fee. The lowest origination fee was unchanged on a slightly higher interest rate.
Thursday, August 20 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 20 1.711% $6,000 $82,701 + $66,492
Change from August 13 +0.012 no change +$8
Lowest Origination Fee August 20 2.451% $2,500 $86,201 + $66,985
Change from August 13 +0.012 no change +$8
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, Mid America Mortgage, Retire Secure, Goodlife Home Loans, Longbridge Financial, 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.