Reverse Mortgage Rates and Origination Fees for Tuesday, December 27 2016
Reverse Mortgage Rates and Origination Fees for Tuesday, December 27 2016
Posted 9:40am EST
Rates on
Fixed-Rate HECMs continue unchanged this week, with
pricing reported by lenders remaining level for the
entire month of December. The lowest origination fee (rebate)
available on a Fixed-Rate HECM also remained
unchanged from last week.
| Tuesday, December 27 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 December 27 | 4.500% | $6,000 | $86,961 No Change |
| Change from Dec 20 | No Change | No Change | |
| Lowest Origination Fee December 27 | 4.990% | $2,500 | $90,461 No Change |
| Change from Dec 20 | 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 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday