Reverse Mortgage Rates and Origination Fees for
Thursday,
July 16 2020
Reverse Mortgage Rates and Origination Fees for Thursday,
July 16 2020
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey was down by 0.026% on an unchanged
origination fee. The lowest origination fee was
unchanged on a marginally lower interest rate.
| Thursday, July 16 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 16 | 1.730% | $6,000 | $82,701 + $66,505 |
| Change from July 9 |
-0.026  |
no change |
-$17  |
| Lowest Origination Fee July 16 | 2.470% | $2,500 | $86,201 + $66,998 |
| Change from July 9 |
-0.026 |
no change |
-$17 |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com:
All Reverse, Signet Mortgage, Mid America Mortgage,
Goodlife Home Loans, Longbridge Financial, Centennial Home Mortgage,
Mutual of Omaha 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