Reverse Mortgage Rates and Origination Fees for Tuesday, April 24 2018
Reverse Mortgage Rates and Origination Fees for Tuesday, April 24 2018
Posted 9:35am EST
The lowest rate and in
our Fixed-Rate HECM survey was unchanged for the 10th
consecutive
week; this week the fee associated with the lowest
rate dropped by $350. Once again a zero origination fee quote was
the lowest in the survey.
| Tuesday, April 24 Report on Pricing of Fixed-Rate2 HECM Reverse Mortgage | |||
|---|---|---|---|
| Pricing by 6 competing Reverse Mortgage Lenders1 | Interest Rate | Origination Fee | Maximum Cash Draw by Owner aged 65 with Home Equity of $300,000 |
| Lowest Interest Rate April 24 | 3.990% | $5,500 | $74,855 +$350  |
| Change from April 17 | No Change |
-$350  |
|
| Lowest Origination Fee April 24 | 4.990% | $0 | $69,555 No Change |
| Change from April 17 | 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, Goldwater Bank, Longbridge Financial,
Centennial Home Mortgage
2 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday