Reverse Mortgage Rates and Origination Fees for Thursday,
May 16 2019
Reverse Mortgage Rates and Origination Fees for Thursday,
May 16 2019
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey ticked down by 0.053% this week. The lowest
origination fee was unchanged.
| Wednesday, May 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 May 16 | 3.568% | $5,495 | $81,431 + $66,485 |
| Change from May 9 |
-0.053  |
no change |
-$36  |
| Lowest Origination Fee May 16 | 4.193% | $1,500 | $77,866 + $61,619 |
| Change from May 9 |
-0.053 |
no change |
-$33 |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, Retire Secure,
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