Reverse Mortgage Rates for October 15, 2020

Reverse Mortgage Rates and Origination Fees for Thursday, October 15 2020
Reverse Mortgage Rates and Origination Fees for Thursday, October 15 2020
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey was down by  0.010% on an unchanged origination fee. The lowest origination fee was unchanged on a marginally lower interest rate.
Thursday, October 15 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 15 1.598% $6,000 $82,701 + $66,417
Change from October 8 -0.010 no change -$7
Lowest Origination Fee October 15 2.338% $2,500 $86,201 + $66,910
Change from October 8 -0.010 no change -$6
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

View historical market rates on HECM reverse mortgages.
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