Reverse Mortgage Rates and Origination Fees for
Thursday,
August 29 2019
Reverse Mortgage Rates and Origination Fees for Thursday,
August 29 2019
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey rose by 0.004% on an unchanged origination
fee. The lowest origination fee was unchanged on
an unchanged interest rate.
| Wednesday, August 29 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 29 | 2.949% | $5,495 | $83,216 + $67,319 |
| Change from August 22 |
+0.004  |
no change |
-$12  |
| Lowest Origination Fee August 29 | 3.199% | $2,995 | $85,716 + $67,487 |
| Change from August 22 |
+0.004 |
no change |
-$12 |
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
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