Reverse Mortgage Rates and Origination Fees for Thursday,
October 25 2018
Reverse Mortgage Rates and Origination Fees for Thursday,
October 25 2018
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey edged up by 0.057% on an unchanged origination fee quote this week. The lowest
origination fee was unchanged on a slightly higher
rate quote.
| Wednesday, October 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 October 25 | 3.895% | $5,850 | $71,992 + $60,433 |
| Change from October 18 |
+0.057  |
no change |
+$116  |
| Lowest Origination Fee October 25 | 4.520% | $900 | $70,102 + $56,017 |
| Change from September 18 |
+0.057 |
no change |
+$114 |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, Goldwater Bank,
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