Reverse Mortgage Rates and Origination Fees for Thursday, August 9 2018
by Jack Guttentag
Posted 10:15am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey ticked up by 0.006% on an unchanged origination fee quote this week. The lowest origination fee declined by $150 on a slightly higher rate quote.
Wednesday, August 9 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 9 3.827% $5,850 $71.910 + $60,392
Change from August 2 +0.006 no change +$3
Lowest Origination Fee August 9 4.327% $2,250 $70,110 + $56,916
Change from August 2 +0.006 -$150 +$153
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.