Reverse Mortgage Rates and Origination Fees for Tuesday, April 11 2017
by Jack Guttentag
Posted 9:35am EST
The lowest rate reported by lenders in our Fixed-Rate HECM survey was unchanged for the third consecutive week. The lowest origination fee in the survey increased by $1,500; however this quote was associated with a significantly lower rate which resulted in a substantial increase in the maximum cash draw.
Tuesday, April 11 Report on Pricing of Fixed-Rate2 HECM Reverse Mortgage
Pricing by 6 competing Reverse Mortgage Lenders1 Interest Rate Origination Fee Maximum Cash Draw by Owner aged 65 with Home Equity of $300,000
Lowest Interest Rate April 11 4.750% $3,500 $89,461
No Change
Change from Apr 4 No Change No Change
Lowest Origination Fee April 11 4.990% $2,500 $90,461
+$4,260
Change from Apr 4 -0.320% +$1,500
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, The Federal Savings Bank, Goldwater Bank, Bank of England
2 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday
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