Reverse Mortgage Rates and Origination Fees for Tuesday, October 6 2020
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
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 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

View historical market rates on HECM reverse mortgages.