Reverse Mortgage Rates and Origination Fees for Thursday, August 29 2019
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey rose by 0.004% on an unchanged origination fee. The lowest origination fee was unchanged on an unchanged interest rate.
Wednesday, August 29 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 29 2.949% $5,495 $83,216 + $67,319
Change from August 22 +0.004 no change -$12
Lowest Origination Fee August 29 3.199% $2,995 $85,716 + $67,487
Change from August 22 +0.004 no change -$12
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, Retire Secure, Goodlife Home Loans, Longbridge Financial, Centennial Home 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
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View historical market rates on HECM reverse mortgages.