Reverse Mortgage Rates and Origination Fees for
Tuesday, November 24 2020
Reverse Mortgage Rates and Origination Fees for Tuesday, November 24 2020
Posted 9:35am EST
The lowest rate in our
Fixed-Rate HECM survey was unchanged for a third
week on an unchanged origination fee quote. The lowest
origination fee was also unchanged on a
significantly lower rate.
| Tuesday, November 24 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 November 24 | 2.990% | $3,000 | $85,701 No Change |
| Change from November 17 | No Change | No Change | |
| Lowest Origination Fee November 24 | 3.430% | $0 | $86,901 +$10,440  |
| Change from November 17 |
-0.880  |
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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