Reverse Mortgage Rates and Origination Fees for Thursday,
September 27 2018
Reverse Mortgage Rates and Origination Fees for Thursday,
September 27 2018
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey ticked up by 0.028% on an substantially
higher origination fee quote this week. The lowest
origination fee was down slightly on a significantly higher
rate quote.
| Wednesday, September 27 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 September 27 | 3.908% | $5,000 | $72,760 + $60,441 |
| Change from September 20 |
+0.028  |
+$3,550 |
-$3,533  |
| Lowest Origination Fee September 27 | 4.408% | $900 | $71,460 + $56,962 |
| Change from September 20 |
+0.528 |
-$550  |
-$8,312 |
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