Reverse Mortgage Rates and Origination Fees for Thursday,
August 30 2018
Reverse Mortgage Rates and Origination Fees for Thursday,
August 30 2018
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey ticked up by 0.007% on an unchanged
origination fee quote this week. The lowest
origination fee was unchanged on a slightly higher
rate quote.
| Wednesday, August 30 Report on Pricing of Adjustable-Rate2 HECM Reverse Mortgage3 | |||
|---|---|---|---|
| Pricing by 7 competing Reverse Mortgage Lenders1 | Interest Rate | Origination Fee | Maximum Cash Draw by Owner aged 65 with Home Equity of $300,0004 |
| Lowest Interest Rate August 30 | 3.820% | $5,000 | $74,200 + $61,391 |
| Change from August 23 |
+0.007  |
no change |
+$5  |
| Lowest Origination Fee August 30 | 4.320% | $1,500 | $72,120 + $57.794 |
| Change from August 23 |
+0.007 |
no change |
+$4 |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, Goldwater Bank,
Longbridge Financial, Centennial Home Mortgage
2 Adjustable-rate pricing published every Wednesday; Fixed-rate pricing published every Tuesday
3 Mortgages with a maximum rate adjustment of 5%
4 Part of credit line is available immediately, and part after 12 months