Reverse Mortgage Rates and Origination Fees for Thursday, October 29 2020
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey edged up by 0.002% on an unchanged origination fee. The lowest origination fee was unchanged on a slightly higher interest rate.
Thursday, October 29 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 October 29 1.587% $6,000 $82,701 + $66,410
Change from October 22 +0.002 no change +$1
Lowest Origination Fee October 29 2.327% $2,500 $86,201 + $66,902
Change from Ocober 22 +0.002 no change +$3
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, 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.