Reverse Mortgage Rates and Origination Fees for
Tuesday, April 28 2020
Reverse Mortgage Rates and Origination Fees for Tuesday, April 28 2020
Posted 9:35am EST
After 36 weeks of unchanged
rates, the lowest rate in our Fixed-Rate HECM survey
dropped by 0.500% on a higher origination fee quote. The lowest
origination fee was unchanged on an unchanged rate
quote.
| Tuesday, April 28 Report on Pricing of Fixed-Rate2 HECM Reverse Mortgage | |||
|---|---|---|---|
| Pricing by 6 competing Reverse Mortgage Lenders1 | Interest Rate | Origination Fee | Maximum Cash Draw by Owner aged 65 with Home Equity of $300,000 |
| Lowest Interest Rate April 28 | 3.180% | $6,000 | $82,701 +$3,360  |
| Change from April 21 |
-0.500  |
+$1,500 |
|
| Lowest Origination Fee April 28 | 5.060% | $0 | $68,541 No Change |
| Change from April 21 | No Change | No Change | |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com:
All Reverse, Centennial Home Mortgage, First Bank,
Goldwater Bank, Goodlife Home Loans, Longbridge
Financial, Mid America Mortgage,Mutual of Ohama
Mortgage, Signet Mortgage
2 Fixed-rate pricing published every Tuesday; Adjustable-rate pricing published every Thursday
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