Reverse Mortgage Rates and Origination Fees for Thursday, December 14, 2017
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey ticked up again this week on a slightly lower origination fee quote. The lowest reported origination fee was unchanged on a slightly higher rate quote.
Wednesday, December 14 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 Dec 14 3.511% $4,000 $76,640 + $62,201
Change from December 7 +0.051 -$250 +$282
Lowest Origination Fee Dec 14 4.011% $2,200 $72,860 + $58,620
Change from December 7 +0.051 No Change +$29
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, The Federal Savings Bank, Goldwater Bank, Bank of England, Longbridge Financial
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.