Reverse Mortgage Rates and Origination Fees for Thursday, October 3 2019
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey ticked down by 0.022% on an unchanged origination fee. The lowest origination fee was down on a higher interest rate.
Wednesday, October 3 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 3 3.043% $5,495 $83,206 + $67,382
Change from September 26 -0.022 no change -$14
Lowest Origination Fee October 3 3.543% $2,500 $86,201 + $67,718
Change from September 26 +0.228 -$495 +$648
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
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
Use the Kosher Reverse Mortgage Calculator Learn How the Kosher Reverse Mortgage is Different

View historical market rates on HECM reverse mortgages.