Reverse Mortgage Rates for September 24, 2020

Reverse Mortgage Rates and Origination Fees for Thursday, September 24 2020
Reverse Mortgage Rates and Origination Fees for Thursday, September 24 2020
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey was down by  0.040% on an unchanged origination fee. The lowest origination fee was unchanged on a marginally lower interest rate.
Thursday, September 24 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 September 24 1.624% $6,000 $82,701 + $66,434
Change from September 17 -0.040 no change -$27
Lowest Origination Fee September 24 2.364% $2,500 $86,201 + $66,927
Change from September 17 -0.047 no change -$27
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.
Sign up to Receive New Articles
Print