Reverse Mortgage Rates and Origination Fees for Thursday, March 4 2021
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey edged up by 0.010% on an unchanged origination fee. The lowest origination fee was unchanged on a slightly higher rate but with a substantially lower max cash draw.
Thursday, March 4 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 4 1.830% $4,500 $84,176 + $66,571
Change from Febuary 25 +0.010 no change -$19
Lowest Origination Fee March 4 2.070% $2,500 $84,376 + $66,500
Change from February 25 +0.010 no change -$3,049
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.