Reverse Mortgage Rates and Origination Fees for Thursday, September 27 2018
by Jack Guttentag
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey ticked up by 0.028% on an substantially higher origination fee quote this week. The lowest origination fee was down slightly on a significantly higher rate quote.
Wednesday, September 27 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 27 3.908% $5,000 $72,760 + $60,441
Change from September 20 +0.028 +$3,550 -$3,533
Lowest Origination Fee September 27 4.408% $900 $71,460 + $56,962
Change from September 20 +0.528 -$550 -$8,312
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.