Reverse Mortgage Rates and Origination Fees for Thursday, July 26 2018
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey ticked up by 0.015% on an slightly higher origination fee quote this week. The lowest origination fee was down by $100 on a slightly higher rate quote.
Wednesday, July 26 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 July 26 3.802% $5,850 $73,350 + $61,380
Change from July 19 +0.015 +$350 -$340
Lowest Origination Fee July 26 4.302% $2,400 $71,220 + $57,783
Change from July 19 +0.015 -$100 +$108
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, Goldwater Bank, Longbridge Financial, Centennial Home Mortgage
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.