Reverse Mortgage Rates and Origination Fees for
Tuesday, May 12 2020
Reverse Mortgage Rates and Origination Fees for Tuesday, May 12 2020
Posted 9:35am EST
The lowest rate in our Fixed-Rate HECM survey
unchanged this week on an unchanged origination fee quote. The lowest
origination fee was also unchanged on an unchanged rate
quote.
| Tuesday, May 12 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 May 12 | 3.180% | $6,000 | $82,701 No Change |
| Change from May 5 | No Change | No Change | |
| Lowest Origination Fee May 12 | 5.060% | $0 | $68,541 No Change |
| Change from May 5 | No Change | No Change | |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com:
All Reverse, Centennial Home Mortgage, First Bank,
Goldwater Bank, Goodlife Home Loans, Longbridge
Financial, Mid America Mortgage,Mutual of Ohama
Mortgage, Signet Mortgage
2 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday