Reverse Mortgage Rates and Origination Fees for Tuesday, October 6 2020
by Jack Guttentag
Posted 9:35am EST
The lowest rate in our Fixed-Rate HECM survey dropped for the first time in 9 weeks on a higher origination fee quote. The lowest origination fee was unchanged on an unchanged rate quote.
Tuesday, October 6 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 October 6 2.990% $4,950 $83,751
-$450
Change from September 30 -0.070 +$450
Lowest Origination Fee October 6 4.310% $0 $76,461
No Change
Change from September 30 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.