Reverse Mortgage Rates and Origination Fees for
Thursday,
October 10 2019
Reverse Mortgage Rates and Origination Fees for Thursday,
October 10 2019
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey declined sharply on an unchanged origination
fee. The lowest origination fee was unchanged on
a lower interest rate.
| Wednesday, October 10 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 October 10 | 2.853% | $5,495 | $83,206 + $67,254 |
| Change from October 3 |
-0.190  |
no change |
-$128  |
| Lowest Origination Fee October 10 | 3.353% | $2,500 | $86,201 + $67,590 |
| Change from October 3 |
-0.190 |
no change |
-$128 |
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
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 |