Reverse Mortgage Rates and Origination Fees for Tuesday, August 23 2016
by Jack Guttentag
Posted 9:25am EST
The best interest rate in Fixed-Rate HECMs reported by lenders remained unchanged this week.  In addition, the lowest origination fee decreased resulting in a concomitant increase in the maximum cash draw available.
Tuesday, August 23 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 August 23 4.250% $0 $92,961
No Change
Change from August 16 No Change No Change
Lowest Origination Fee August 23 4.990% $-1,951 $94,912
+$1,951
Change from August 16 +0.74% -$1,951
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
2 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday
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