Reverse Mortgage Rates and Origination Fees for Thursday, November 2, 2017
Reverse Mortgage Rates and Origination Fees for Thursday, November 2, 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 remained unchanged on a slightly
higher rate.
| Thursday, November 2 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 2 | 3.348% | $4,500 | $74,601 + $61,102 |
| Change from October 26 |
+0.017  |
No Change |
-$2,428  |
| Lowest Origination Fee Nov 2 | 4.598% | $2,500 | $63,461 + $52,651 |
| Change from October 26 |
+0.017 |
No Change |
-$1,829 |
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