Reverse Mortgage Rates and Origination Fees for Thursday, May 4, 2017
by Jack Guttentag
Posted 9:35am EST
The best interest rate on adjustable-rate HECMs ticked up this week on quotes reported by lenders.  The lowest reported origination fee was down on a slighty higher rate quote.
Thursday, May 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 May 4 3.274% $4,500 $88,461 + $65,040
Change from Apr 27 +0.029% No Change No Change
Lowest Origination Fee May 4 4.524% $2,500 $90,461 + $65,040
Change from Apr 27 +0.029% -$800 +$800
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
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.