Reverse Mortgage Rates and Origination Fees for Thursday, July 20, 2017
Reverse Mortgage Rates and Origination Fees for Thursday, July 20, 2017
Posted 9:35am EST
Zero origination fee quotes
remained in our survey once again this week. The lowest
interest rate reported by lenders this week on
adjustable-rate HECMs edged down this week on a zero
fee quote. The lowest reported origination fee was
once again a zero fee quote on a slightly lower
rate than last week.
| Thursday, July 20 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 July 20 | 3.240% | $0 | $94,440 + $65,040 |
| Change from July 13 |
-0.018  |
No Change | No Change |
| Lowest Origination Fee July 20 | 3.240% | $0 | $94,440 + $65,040 |
| Change from July 13 |
-0.018 |
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 Adjustable-rate pricing published every Thursday; 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