Reverse Mortgage Rates and Origination Fees for Thursday, October 26, 2017
Reverse Mortgage Rates and Origination Fees for Thursday, October 26, 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 unchanged on a slightly
higher rate.
| Thursday, October 26 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 26 | 3.331% | $4,500 | $76,041 + $62,090 |
| Change from October 19 |
+0.018  |
No Change |
+$12  |
| Lowest Origination Fee October 26 | 4.581% | $2,500 | $64,541 + $53,400 |
| Change from October 19 |
+0.018 |
No Change |
+$10 |
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