Reverse Mortgage Rates and Origination Fees for
Thursday,
November 5 2020
Reverse Mortgage Rates and Origination Fees for Thursday,
November 5 2020
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey was unchanged this week on an unchanged origination
fee. The lowest origination fee was also unchanged on
a unchanged higher interest rate.
| Thursday, November 5 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 November 5 | 1.587% | $6,000 | $82,701 + $66,410 |
| Change from October 29 | no change | no change | no change |
| Lowest Origination Fee November 5 | 2.327% | $2,500 | $86,201 + $66,902 |
| Change from October 29 | no change | no change | no change |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage,
Mid America Mortgage, Retire Secure,
Goodlife Home Loans, Longbridge Financial, Mutual of Omaha Mortgage
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