Reverse Mortgage Rates and Origination Fees for
Thursday,
January 9 2020
Reverse Mortgage Rates and Origination Fees for Thursday,
January 9 2020
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey ticked down by 0.040% on an unchanged origination
fee. The lowest origination fee was unchanged on
a slightly lower interest rate.
| Thursday, January 9 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 January 9 | 2.964% | $4,499 | $84,202 + $67,329 |
| Change from January 2 |
-0.040  |
no change |
-$26  |
| Lowest Origination Fee January 9 | 3.464% | $2,500 | $84,401 + $66,417 |
| Change from January 2 |
-0.040 |
no change |
-$26 |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage,
Mid America 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