Reverse Mortgage Rates and Origination Fees for
Tuesday, February 25 2020
Reverse Mortgage Rates and Origination Fees for Tuesday, February 25 2020
Posted 9:35am EST
The lowest rate in our
Fixed-Rate HECM survey was unchanged for the 28th
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, February 25 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 February 25 | 3.680% | $4,499 | $79,342 No Change |
| Change from February 18 | No Change | No Change | |
| Lowest Origination Fee February 25 | 5.060% | $0 | $68,541 No Change |
| Change from February 18 | 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