Reverse Mortgage Rates and Origination Fees for Thursday, November 15 2018
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey was up by 0.039% on an unchanged origination fee quote this week. The lowest origination fee was unchanged on a slightly higher rate quote.
Wednesday, November 15 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 November 15 4.019% $5,850 $70,552 + $59,504
Change from November 8 +0.039 no change -$2,421
Lowest Origination Fee November 15 4.644% $900 $68,842 + $55,202
Change from November 8 +0.039 no change -$2,122
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, Goldwater Bank, Longbridge Financial, Centennial Home Mortgage
2 Adjustable-rate pricing published every Wednesday; 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.