Are your correctly explaining one of the most misunderstood features of the HECM?
HECM ‘line of credit’ growth still beneficial but more realistic Recent changes to the Home Equity Conversion Mortgage enacted on October 2nd have reduced the ongoing FHA insurance premium substantially and led to many lenders reducing their loan margins to soften the blow of reducing lending ratios or PLF factors.
Many get it wrong- are you correctly explaining the line of credit Solid product knowledge brings sales confidence. How accurate is your description of how the HECM line of credit (principal limit growth rate) works? Join Norcom Mortgage today and let them help get you started! About John Luddy: John