Reverse Mortgage Rates and Origination Fees for Thursday, February 13 2020
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey ticked up by 0.028% on an unchanged origination fee. The lowest origination fee was unchanged on a slightly higher interest rate.
Thursday, February 13 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 February 13 2.835% $4,499 $84,202 + $67,242
Change from February 6 +0.028 no change +$19
Lowest Origination Fee February 13 3.335% $2,500 $86,201 + $67,578
Change from February 6 +0.028 no change +$628
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, Mid America Mortgage, Retire Secure, 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
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View historical market rates on HECM reverse mortgages.