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Reverse Mortgage Maximum Loan Amount for 2022
Manage episode 324877667 series 3336448
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Check out the following for more reverse mortgage info and California, Idaho, and Colorado's best reverse mortgage broker.
In this podcast episode we talk about:
1. HECM Max Claim Amount and what it is.
2. ACTUAL maximum loan amounts for the FHA reverse mortgage.
3. Max loan amount at age 62 = $508,602. Max Reverse Mortgage Loan amount at age 70 = $559,083. Max loan amount at age 80 = $623,156. and the max loan amount at age 92+ is $ 728,000. All these numbers are assuming your home is worth the 2022 HECM Max Claim Amount of $970,800 or more.
4. For those that owe more than these numbers, there may be another jumbo option available. You can borrow up to $4,000,000 and even as high as $6,000,000 on an exception basis.
We also offer alot of other type of loans. After all, we are California, Colorado, & Idaho's Best Mortgage Broker!
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