Reverse Mortgage Rates and Origination Fees for
Thursday,
November 26 2020
Reverse Mortgage Rates and Origination Fees for Thursday,
November 26 2020
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey was up a significant 0.500% on a lower
origination fee (this was due to lenders no longer
offering the lower rate - not because of any
significant move in market interest rates). The lowest origination fee was
unchanged on an unchanged interest rate.
| Thursday, November 26 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 November 26 | 2.083% | $4,500 | $84,201 + $66,740 |
| Change from November 19 |
+0.500  |
-$1,500  |
+$1,833  |
| Lowest Origination Fee November 26 | 2.323% | $2,500 | $86,201 + $66,900 |
| Change from November 19 | no change | no change | no change |
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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