Reverse Mortgage Rates and Origination Fees for
Thursday,
August 15 2019
Reverse Mortgage Rates and Origination Fees for Thursday,
August 15 2019
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey fell a significant 0.209% on an unchanged
origination fee. The lowest origination fee was
was essentially unchanged on sharply lower interest
rate.
| Wednesday, August 15 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 August 15 | 2.988% | $6,000 | $82,726 + $67,345 |
| Change from August 8 |
-0.209  |
no change |
-$140  |
| Lowest Origination Fee August 15 | 3.238% | $2,995 | $85,731 + $67,513 |
| Change from August 8 |
-0.459 |
-$5 |
+$5,493  |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, Retire Secure,
Goodlife Home Loans, 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