Reverse Mortgage Rates and Origination Fees for
Thursday,
May 13 2021
Reverse Mortgage Rates and Origination Fees for Thursday,
May 13 2021
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey was unchanged for the 4th week on an unchanged
origination fee. The lowest origination fee was
also unchanged on an unchanged rate.
| Thursday, May 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 May 13 | 1.810% | $4,500 | $82,716 + $66,312 |
| Change from May 6 | no change | no change | no change |
| Lowest Origination Fee May 13 | 2.050% | $2,500 | $82,656 + $64,379 |
| Change from May 6 | no change | no change | no change |
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