New HECM Reverse Mortgage Lending Limit and Index for 2021

Happy New Year! The year 2020 was one of the more tumultuous years in recent memory, was it not? We sincerely hope that the new year finds you well! In life, things are always changing – and it’s no different in the reverse mortgage world. The new year brings some significant changes to the HECM reverse mortgage. A new higher HECM lending limit for 2021 FHA periodically revises the lending limit to reflect real estate market conditions. The lending limit is effectively the maximum appraised value used for the calculation of proceeds. For case numbers issued on or after January…