Reverse Mortgage Rates and Origination Fees for Thursday, February 20 2020
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey ticked down by 0.042% on an unchanged origination fee. The lowest origination fee was unchanged on a slightly lower interest rate.
Thursday, February 20 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 20 2.793% $4,499 $84,202 + $67,214
Change from February 13 -0.042 no change -$28
Lowest Origination Fee February 20 3.293% $2,500 $86,201 + $67,550
Change from February 13 -0.042 no change -$28
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.