Reverse Mortgage Rates and Origination Fees for Tuesday, April 7 2020
by Jack Guttentag
Posted 9:35am EST
The lowest rate in our Fixed-Rate HECM survey was unchanged for the 34th straight week on an unchanged origination fee quote. The lowest origination fee was also unchanged on an unchanged rate quote. Maximum cash draws were also unchanged.
Tuesday, April 7 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 7 3.680% $4,500 $79,341
No Change
Change from March 31 No Change No Change
Lowest Origination Fee April 7 5.060% $0 $68,541
No Change
Change from March 31 No Change No Change
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Centennial Home Mortgage, First Bank, Goldwater Bank, Goodlife Home Loans, Longbridge Financial, Mid America Mortgage,Mutual of Ohama Mortgage, Signet Mortgage
2 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday
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View historical market rates on HECM reverse mortgages.