Reverse Mortgage Rates and Origination Fees for
Thursday,
March 5 2020
Reverse Mortgage Rates and Origination Fees for Thursday,
March 5 2020
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey moved lower by a significant 0.347% on an unchanged origination
fee. The lowest origination fee was unchanged on
a sharply lower interest rate.
| Thursday, March 5 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 March 5 | 2.382% | $4,499 | $84,202 + $66,939 |
| Change from February 27 |
-0.347  |
no change |
-$232  |
| Lowest Origination Fee March 5 | 3.132% | $2,500 | $86,201 + $67,441 |
| Change from February 27 |
-0.222 |
no change |
-$150 |
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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