Reverse Mortgage Rates and Origination Fees for Tuesday, June 2 2020
by Jack Guttentag
Posted 9:35am EST
The lowest rate in our Fixed-Rate HECM survey was unchanged for the 6th straight week on an unchanged origination fee quote. The lowest origination fee was also unchanged on an unchanged rate quote.
Tuesday, June 2 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 June 2 3.180% $6,000 $82,701
No Change
Change from May 26 No Change No Change
Lowest Origination Fee June 2 5.060% $0 $68,541
No Change
Change from May 26 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.