This is great news for older homeowners with higher value homes. The new maximum claim amount of $970,800 is an increase from $822,375 this past year. 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. With interest rates still very low and home values very high, this is a great time to secure your reverse mortgage.
To determine the amount available to you call Scott at 775-204-3390