Phone: (800) 489-0986
Cell or text: (775) 770-0870

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HECM LOAN LIMITS INCREASE FROM $822,365 TO $970,800 ON JAN 1, 2022

This is great news for older homeowners with higher value homes. The new maximum claim amount of $970,800 is an increase from $822,365 in 2021.  The maximum claim amount is the highest home value we can use to calculate HECM proceeds. Proceeds for the loan are based on age of youngest borrower and expected interest rate. As interest rates rise, the principal limit is reduced so now is a good time to pursue the reverse mortgage. If you have an existing reverse mortgage, I can help you determine if you can increase your line of credit and reduce the interest accrual rate on your loan balance through a HECM refinance.

To determine the amount available to you, call Maggie at 800-684-9438

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