2025 HECM Cap Raised: The Federal Housing Administration (FHA) has announced an increase in the maximum lending limit for Home Equity Conversion Mortgages (HECMs) for the 2025 calendar year. The new cap is set at $1,209,750, up from $1,149,825 in 2024. This adjustment will apply to case numbers assigned on or after January 1, 2025. …
2024 HECM Reverse Mortgage Loan Limits
2024 HECM Cap Raised: The Federal Housing Administration has recently declared an increase in the highest lending limit for Home Equity Conversion Mortgages for the 2024 calendar year. The new limit is set at $1,149,825, up from the previous $1,089,300. This change will be effective for case numbers assigned from January 1, 2024, onwards. Further …
2023 HECM Reverse Mortgage Loan Limits
Reverse mortgage loan limits have reached an all-time high. Every year, HUD reviews house price data from FHFA to determine the baseline conforming loan limit to reflect the changes to the national average home price. From three, they extrapolate the loan limits. HUD generally follows suit and this year was not an exception. The result …
Government Shutdown Impact on Reverse Mortgages
[Updated 12/26/18] What happens with your reverse mortgage in a Government shutdown? In the event of a Government shutdown, as is currently the case, the Federal Housing Administration's Office of Single Family Housing (FHA) and its mortgage insurance fund will operate with limited services. We will continue to close HECM reverse mortgages that fully comply …
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