Reverse Mortgage Rates for August 4, 2020

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Reverse Mortgage Rates and Origination Fees for Tuesday, August 4 2020
Reverse Mortgage Rates and Origination Fees for Tuesday, August 4 2020
Posted 9:35am EST
The lowest rate in our Fixed-Rate HECM survey dropped for the first time in 15 weeks on a lower origination fee quote. The lowest origination fee was unchanged on a significantly lower rate quote.
Tuesday, August 4 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 August 4 3.060% $4,500 $84,201
+$1,500
Change from July 28 -0.120 -$1,500
Lowest Origination Fee August 4 4.310% $0 $76,461
+$7,920
Change from July 28 -0.750 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

View historical market rates on HECM reverse mortgages.
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