Reverse Mortgage Rates and Origination Fees for Thursday, May 25, 2017
Reverse Mortgage Rates and Origination Fees for Thursday, May 25, 2017
Posted 9:30am EST
The best interest rate on
adjustable-rate HECMs edged down this
week on quotes reported
by lenders. The lowest reported
origination fee was unchanged on a slightly
lower rate quote.
| Thursday, May 25 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 25 | 3.223% | $4,250 | $88,810 + $65,040 |
| Change from May 18 |
-0.043  |
No Change |
+$99  |
| Lowest Origination Fee May 25 | 3.723% | $3,200 | $89,860 + $65,040 |
| Change from May 18 |
-0.043 |
No Change |
+$99 |
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,
Bank of England, Longbridge Financial
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