Reverse Mortgage Rates and Origination Fees for Thursday, September 28, 2017
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey ticked up again this week. The lowest reported origination fee was unchanged on a slightly higher rate. Maximum cash draws will decline next week as the new FHA mortgage insurance premium and principal limit factors go into effect.
Thursday, September 28 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 28 3.275% $4,250 $90,190 + $65,040
Change from September 21 +0.043 No Change No Change
Lowest Origination Fee September 28 3.775% $2,975 $91,465 + $65,040
Change from September 21 +0.043 No Change No Change
1 The following lenders report their interest rates and origination fees to All Reverse, Signet Mortgage, First Bank, Retire Secure, The Federal Savings Bank, Goldwater Bank, Bank of England, Longbridge Financial
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.