Reverse Mortgage Rates and Origination Fees for Thursday, September 3 2020
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey edged up by 0.005% on an unchanged origination fee. The lowest origination fee was unchanged on a slightly higher interest rate.
Thursday, September 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 September 3 1.696% $6,000 $82,701 + $66,482
Change from August 27 +0.005 no change +$3
Lowest Origination Fee September 3 2.436% $2,500 $86,201 + $66,975
Change from August 27 +0.005 no change +$3
1 The following lenders report their interest rates and origination fees to 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.