Reverse Mortgage Rates and Origination Fees for Thursday, August 23 2018
by Jack Guttentag
Posted 9:30am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey ticked down by 0.003% on an $850 lower origination fee quote this week. The lowest origination fee was also lower on a slightly lower rate quote.
Wednesday, August 23 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 23 3.813% $5,000 $74,200 + $61,386
Change from August 16 -0.003 -$850 +$848
Lowest Origination Fee August 23 4.313% $1,500 $72,120 + $57.790
Change from August 16 -0.003 -$750 +$749
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, Goldwater Bank, Longbridge Financial, Centennial Home Mortgage
2 Adjustable-rate pricing published every Wednesday; 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.