lending limits

BREAKING: HECM Lending Limit Increased

Shannon Hicks
 HECM lending limits increased for the 4th consecutive year Tuesday, December 3rd FHA released Mortgagee Letter 2019-20 announcing the new maximum claim amount (or lending limit) for Home Equity Conversion Mortgages. The new limit of $765.600 is in effect for the calendar year 2020 and represents a nearly $39,000

BREAKING: New Lending Limit Jan 1st

Shannon Hicks
$679,650 Lending Limit for HECMs after 1-1-2018 While only a small percentage of potential borrowers with high-value property values would qualify, there are a few important caveats you should keep in mind. One note, for more in-depth discussion I would recommend reading Jim Veale’s article in Reverse Mortgage Daily’s LinkedIn

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