New HECM Loan Limit

The New National HECM Loan Limit is $625,500

The FHA recently announced a new national HECM loan limit of $625,500, good until. Dec 31, 2009. The current legislation establishes a new national HECM loan limit of $625,500 across the country. This replaces the previous HECM loan limit of $417,000. The new HECM loan limit allows seniors to draw more equity than on existing HECM loans. This is important to all senior homeowners, but even more so to those who have homes with higher property values.

With the recent economic crisis and Government bail outs, the Obama administration remains vigilant against an economic meltdown. The new national HECM loan limit will be especially beneficial. Most seniors who secure HECM loans feel that they are a financial necessity during these unstable times. The new HECM loan limit will give them even more peace of mind. To learn how the new national HECM loan limit will impact your HECM Reverse Mortgage situation, please Contact Us today.