Reverse Mortgage Rates and Origination Fees for Thursday, June 22, 2017
by Jack Guttentag
Posted 9:35am EST
Zero origination fee quotes returned to our survey this week. The lowest interest rate reported by lenders this week on adjustable-rate HECMs edged up this week on a zero fee quote.  The lowest reported origination fee was down signficantly from last week on a significantly lower rate quote.
Thursday, June 22 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 22 3.232% $0 $94,440 + $65,040
Change from June 15 +0.004 -$4,250 +$4,250
Lowest Origination Fee June 22 3.232% $0 $94,440 + $65,040
Change from June 15 -0.496 -$2,975 +$2,975
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.