Reverse Mortgage Rates and Origination Fees for Thursday, July 13, 2017
Reverse Mortgage Rates and Origination Fees for Thursday, July 13, 2017
Posted 9:35am EST
Zero origination fee quotes
remained in our survey again this week. The lowest
interest rate reported by lenders this week on
adjustable-rate HECMs edged up this week on a zero
fee quote. The lowest reported origination fee was
once again a zero fee quote on a slightly higher
rate than last week.
Thursday, July 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 July 13 | 3.258% | $0 | $94,440 + $65,040 |
Change from July 6 | +0.020 | No Change | No Change |
Lowest Origination Fee July 13 | 3.258% | $0 | $94,440 + $65,040 |
Change from July 6 | +0.020 | No Change | No Change |
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, Longbridge Financial
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