Reverse Mortgage Rates and Origination Fees for
Thursday,
February 27 2020
Reverse Mortgage Rates and Origination Fees for Thursday,
February 27 2020
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey ticked down by 0.042% on an unchanged origination
fee. The lowest origination fee was unchanged on
a slightly higher interest rate.
| Thursday, February 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 February 27 | 2.729% | $4,499 | $84,202 + $67,171 |
| Change from February 20 |
-0.064  |
no change |
-$43  |
| Lowest Origination Fee February 27 | 3.354% | $2,500 | $86,201 + $67,591 |
| Change from February 20 |
+0.061  |
no change |
+$41  |
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
 |
Tweet |