Reverse Mortgage Rates and Origination Fees for Thursday, March 5 2020
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey moved lower by a significant 0.347% on an unchanged origination fee. The lowest origination fee was unchanged on a sharply lower interest rate.
Thursday, March 5 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 5 2.382% $4,499 $84,202 + $66,939
Change from February 27 -0.347 no change -$232
Lowest Origination Fee March 5 3.132% $2,500 $86,201 + $67,441
Change from February 27 -0.222 no change -$150
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: 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
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View historical market rates on HECM reverse mortgages.