Reverse Mortgage Rates and Origination Fees for Tuesday, September 20 2016
Reverse Mortgage Rates and Origination Fees for Tuesday, September 20 2016
Posted 9:20am EST
The best interest rate in
Fixed-Rate HECMs reported by lenders remained
unchanged this week. The lowest origination fee
available on a Fixed-Rate HECM also remained
unchanged from last week.
| Tuesday, September 20 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 September 20 | 4.250% | $0 | $92,961 No Change |
| Change from Sept 13 | No Change | No Change | |
| Lowest Origination Fee September 20 | 4.990% | $-1,951 | $94,912 No Change |
| Change from Sept 13 | 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