Reverse Mortgage Rates and Origination Fees for
Thursday,
April 30 2020
Reverse Mortgage Rates and Origination Fees for Thursday,
April 30 2020
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey was up by a signifcant 0.208% on an unchanged origination
fee. The lowest origination fee was unchanged on
a marginally lower interest rate.
| Thursday, April 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 April 30 | 2.190% | $6,000 | $82,701 + $66,811 |
| Change from April 23 |
+0.208  |
no change |
+$139  |
| Lowest Origination Fee April 30 | 2.940% | $2,500 | $85,841 + $67,064 |
| Change from April 23 |
-0.042  |
no change |
-$28  |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com:
All Reverse, Signet Mortgage, Mid America Mortgage,
Goodlife Home Loans, Longbridge Financial, Centennial Home Mortgage,
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
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