Reverse Mortgage Rates and Origination Fees for Thursday, September 22, 2016
Reverse Mortgage Rates and Origination Fees for Thursday, September 22, 2016
Posted 9:20am EST
For the second week the best interest rates
on adjustable-rate HECMs ticked down slightly on quotes reported by lenders
this week.
The lowest origination fee was unchanged.
| Thursday, September 22 Report on Pricing of Adjustable-Rate2 HECM Reverse Mortgage3 | |||
|---|---|---|---|
| Pricing by 6 competing Reverse Mortgage Lenders1 | Interest Rate | Origination Fee | Maximum Cash Draw by Owner aged 65 with Home Equity of $300,0004 |
| Lowest Interest Rate Sept 22 | 3.045% | $4,500 | $88,461 + $65,040 |
| Change from September 15 | -0.012%  |
No Change | No Change |
| Lowest Origination Fee Sept 22 | 4.295% | $3,300 | $89,661 + $65,040 |
| Change from September 15 | -0.012% |
No Change | No Change |
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
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