Reverse Mortgage Rates and Origination Fees for Tuesday, May 16 2017
Reverse Mortgage Rates and Origination Fees for Tuesday, May 16 2017
Posted 9:35am EST
The lowest rate reported by
lenders in our Fixed-Rate HECM survey was unchanged
for the 8th consecutive week. The lowest
origination fee was also unchanged this week.
| Tuesday, May 16 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 May 16 | 4.750% | $3,500 | $89,560 +$99  |
| Change from May 9 | No Change | No Change | |
| Lowest Origination Fee May 16 | 4.990% | $2,500 | $90,560 +$99 |
| Change from May 9 | 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,
Bank of England, Longbridge Financial
2 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday