Reverse Mortgage Rates and Origination Fees for
Thursday,
April 9 2020
Reverse Mortgage Rates and Origination Fees for Thursday,
April 9 2020
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey edged up by 0.081% on an unchanged origination
fee. The lowest origination fee was unchanged on
a significantly higher interest rate.
| Thursday, April 9 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 9 | 2.050% | $6,000 | $82,701 + $66,718 |
| Change from April 2 |
+0.081  |
no change |
+$54  |
| Lowest Origination Fee April 9 | 3.050% | $2,500 | $85,841 + $67,138 |
| Change from April 2 |
+0.331 |
no change |
-$386  |
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, 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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