Reverse Mortgage Rates and Origination Fees for Thursday, January 21 2021
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey was unchanged for the 8th week on an unchanged origination fee. The lowest origination fee was also unchanged on an unchanged interest rate.
Thursday, January 21 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 January 21 2.083% $4,500 $84,201 + $66,740
Change from January 14 no change no change no change
Lowest Origination Fee January 21 2.323% $2,500 $86,201 + $66,900
Change from January 14 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
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View historical market rates on HECM reverse mortgages.