Reverse Mortgage Rates and Origination Fees for Thursday, March 12 2020
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey moved lower by a significant 0.536% on an unchanged origination fee. The lowest origination fee was unchanged on a sharply lower interest rate.
Thursday, March 12 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 March 12 1.846% $4,499 $84,202 + $66,582
Change from March 5 -0.536 no change -$357
Lowest Origination Fee March 12 2.596% $2,500 $85,841 + $66,834
Change from March 5 -0.536 no change -$967
1 The following lenders report their interest rates and origination fees to 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

View historical market rates on HECM reverse mortgages.