Reverse Mortgage Rates and Origination Fees for
Thursday,
June 11 2020
Reverse Mortgage Rates and Origination Fees for Thursday,
June 11 2020
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey was down by 0.060% on an unchanged
origination fee. The lowest origination fee was
unchanged on a marginally lower interest rate.
| Thursday, June 11 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 June 11 | 1.864% | $6,000 | $82,701 + $66,590 |
| Change from June 4 |
-0.060  |
no change |
-$44  |
| Lowest Origination Fee June 11 | 2.604% | $2,500 | $86,201 + $67,084 |
| Change from June 4 |
-0.060 |
no change |
-$44 |
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