Reverse Mortgage Rates and Origination Fees for Thursday, April 19 2018
Reverse Mortgage Rates and Origination Fees for Thursday, April 19 2018
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey ticked up by 0.023% on an slightly lower origination
fee quote this week. The lowest origination fee was
unchanged on a marginally higher
rate quote.
| Wednesday, April 19 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 April 19 | 3.731% | $5,500 | $76,295+ $62,338 |
| Change from April 12 |
+0.023  |
-$500  |
+$515  |
| Lowest Origination Fee April 19 | 4.731% | $2,200 | $68,615 + $55,249 |
| Change from April 12 |
+0.023 |
No Change |
+$12 |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, Goldwater Bank,
Longbridge Financial, Centennial Home Mortgage
2 Adjustable-rate pricing published every Wednesday; 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