Reverse Mortgage Rates and Origination Fees for Thursday, December 31 2020
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey was unchanged for the 5th week on an unchanged origination fee. The lowest origination fee was also unchanged on an unchanged interest rate.
Thursday, December 31 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 December 31 2.083% $4,500 $84,201 + $66,740
Change from December 24 no change no change no change
Lowest Origination Fee December 31 2.323% $2,500 $86,201 + $66,900
Change from December 24 no change no change no change
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, Mid America Mortgage, Goodlife Home Loans, Longbridge Financial, Centennial Home Mortgage, 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.