Reverse Mortgage Rates and Origination Fees for Thursday, March 2, 2017
Reverse Mortgage Rates and Origination Fees for Thursday, March 2, 2017
Posted 9:55am EST
The best interest rate on
adjustable-rate HECMs ticked up slightly on quotes reported by lenders this week.
The lowest origination fee remained unchanged from
the previous
week low.
| Thursday, March 2 Report on Pricing of Adjustable-Rate2 HECM Reverse Mortgage3 | |||
|---|---|---|---|
| Pricing by 6 competing Reverse Mortgage Lenders1 | Interest Rate | Origination Fee | Maximum Cash Draw by Owner aged 65 with Home Equity of $300,0004 |
| Lowest Interest Rate Mar 2 | 3.240% | $4,500 | $88,461 + $65,040 |
| Change from Feb 23 | +0.005%  |
No Change | No Change |
| Lowest Origination Fee Mar 2 | 4.490% | $3,300 | $89,661 + $65,040 |
| Change from Feb 23 |
+0.005% |
No Change | +$2,880  |
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
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