Reverse Mortgage Rates and Origination Fees for Thursday, March 8 2018
Reverse Mortgage Rates and Origination Fees for Thursday, March 8 2018
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey ticked up by 0.037% on an unchanged
origination fee quote this week. The lowest
origination fee bumped up to $2,200 with a
significantly lower associated interest rate.
| Wednesday, March 8 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 March 8 | 3.497% | $6,000 | $74,355+ $61,193 |
| Change from March 1 |
+0.037  |
No Change |
+$22  |
| Lowest Origination Fee March 8 | 4.497% | $2,200 | $67,355 + $54,238 |
| Change from March 1 |
-0.338  |
+$2,200 |
+$3,749 |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, Goldwater Bank,
Longbridge Financial, Centennial Home Mortgage
2 Adjustable-rate pricing published every Wednesday; 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