Reverse Mortgage Rates and Origination Fees for Thursday, September 12 2019
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey was unchanged this week on an unchanged origination fee. The lowest origination fee was also unchanged on an unchanged interest rate.
Wednesday, September 12 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 September 12 2.949% $5,495 $83,221 + $67,319
Change from September 5 no change no change -$98
Lowest Origination Fee September 12 3.199% $2,995 $85,721 + $67,487
Change from September 5 no change no change -$98
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet 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
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View historical market rates on HECM reverse mortgages.