Reverse Mortgage Rates and Origination Fees for Thursday, June 15, 2017
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate on adjustable-rate HECMs edged down this week on quotes reported by lenders.  The lowest reported origination fee was unchanged from last week on a slightly lower rate quote.
Thursday, June 15 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 June 15 3.228% $4,250 $90,190 + $65,040
Change from June 8 -0.003 No Change No Change
Lowest Origination Fee June 15 3.728% $2,975 $91,465 + $65,040
Change from June 8 -0.003 No Change No Change
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, The Federal Savings Bank, Goldwater Bank, Bank of England, Longbridge Financial
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.