Reverse Mortgage Rates and Origination Fees for
Tuesday, April 7 2020
Reverse Mortgage Rates and Origination Fees for Tuesday, April 7 2020
Posted 9:35am EST
The lowest rate in our
Fixed-Rate HECM survey was unchanged for the 34th
straight week on an unchanged origination fee quote. The lowest
origination fee was also unchanged on an unchanged
rate quote. Maximum cash draws were also unchanged.
| Tuesday, April 7 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 7 | 3.680% | $4,500 | $79,341 No Change |
| Change from March 31 | No Change | No Change | |
| Lowest Origination Fee April 7 | 5.060% | $0 | $68,541 No Change |
| Change from March 31 | No Change | No Change | |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com:
All Reverse, Centennial Home Mortgage, First Bank,
Goldwater Bank, Goodlife Home Loans, Longbridge
Financial, Mid America Mortgage,Mutual of Ohama
Mortgage, Signet Mortgage
2 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday