Reverse Mortgage Rates and Origination Fees for Thursday, April 13, 2017
Reverse Mortgage Rates and Origination Fees for Thursday, April 13, 2017
Posted 9:35am EST
The best interest rate on
adjustable-rate HECMs ticked down on quotes reported by lenders this week.
The lowest reported origination fee was up (with an
associated decline in maximum cash draw) on a
significantly high rate quote.
| Thursday, April 13 Report on Pricing of Adjustable-Rate2 HECM Reverse Mortgage3 | |||
|---|---|---|---|
| Pricing by 7 competing Reverse Mortgage Lenders1 | Interest Rate | Origination Fee | Maximum Cash Draw by Owner aged 65 with Home Equity of $300,0004 |
| Lowest Interest Rate Apr 13 | 3.299% | $4,500 | $88,461 + $65,040 |
| Change from Apr 6 |
-0.003%  |
No Change | No Change |
| Lowest Origination Fee Apr 13 | 4.549% | $3,300 | $89,661 + $65,040 |
| Change from Apr 6 |
+0.371%  |
+$801 |
-$801  |
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,
Bank of England
2 Adjustable-rate pricing published every Thursday; Fixed-rate pricing published every Tuesday
3 Mortgages with a maximum rate adjustment of 5%
4 Part of credit line is available immediately, and part after 12 months