Reverse Mortgage Rates and Origination Fees for Thursday,
November 16, 2017
Reverse Mortgage Rates and Origination Fees for Thursday,
November 16, 2017
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey ticked up again this week. The lowest
reported origination fee was unchanged on a slightly
higher rate quote.
| Thursday, November 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 Nov 16 | 3.382% | $4,500 | $76,041 + $62,121 |
| Change from November 9 |
+0.019  |
No Change |
-$87  |
| Lowest Origination Fee Nov 16 | 3.882% | $2,450 | $72,511 + $58,545 |
| Change from November 9 |
+0.019 |
No Change |
-$88 |
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