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This rate option will give you access to more cash proceeds over the life of the loan than any other product option available. You will notice that there
is a line of credit available after 12 months which will allow you to receive the most money possible in the first 12 months. If your number one goal with
the Reverse Mortgage is to get your hands on as much money as possible this is the option for you.
If your priority is to preserve as much equity in your home while still leaving access to a line of credit to have in case of an emergency this is the product
you would want to choose. If you review the amortization schedule for this product, you will see that over the years your outstanding loan balance with
this selection will be lower than the other product options.
With this product option you will keep your closing costs as low as possible in order to establish your Reverse Mortgage. If you are most concerned
with the costs to set up the loan and less concerned with the amount of proceeds you will receive, this is the product I would recommend for you.
As the name indicates this is a Fixed Rate loan option. Your rate would never be subject to change if you choose and close on this product option.
This is the option you would select if your biggest priority was to secure a rate that would not be subject to change. Fixed Rate loans are a single
disbursement lump sum so there is no option for a credit line. Depending on your individual circumstances, a Fixed Rate loan option may not provide
you with as much available loan proceeds as one of the adjustable products so you will want to compare the amount of proceeds available when making
If your current home value is higher than $1.25 Million, this is a product you will want to look at in comparison to the Government product.
The Government Insured Reverse Mortgage has a maximum value currently of $679,650. This means that any additional value above that
figure is not factored into the loan amount calculation. Having a value higher than $679,650 does not prohibit you from still considering the
Government Product, but at higher home values, this product may provide you with significantly more funds available than the Government
Product can. There is no Mortgage Insurance Premium on this product so the closing costs are usually lower for this product in most cases. This is a
Fixed Rate product so the proceeds are given as a lump sum only in lieu of the option for a credit line. If you have a larger existing mortgage or are
looking to receive additional proceeds above what the Government product can provide, this is the best option to accomplish that goal.
Calculate Your 2019 Reverse Mortgage Limit Below
Access ARLO™ our revolutionary calculator that offers real-time rates and loan comparisons. (Updated to reflect current 2019 HECM & Jumbo lending limits)
Calculating Your Reverse Mortgage Options
Great! It looks like your home value estimate is about $~hvalue~. If you feel this estimate is not correct you can manually change it below. If you have an
existing mortgage balance I'll need to know the amount we are going to pay off to get rid of that mortgage payment!
I was unable to fetch a home value for the property details given. Please input the value manually below. If you presently have an
existing mortgage on your home this info will be needed as well.
About Existing Mortgage
If your home currently has a mortgage, please specify the full amount balance in the existing mortgage field.
Up to $20,000+ More in Available Proceeds*
*Scenario Illustrated: Age 67, Home Value 300,000. Difference of All Reverse Mortgage lower rate improves principal limit by $22,200
Our lower rates provide greater advantage of your home’s equity.
5 comments BREAKING: HUD Increases 2019 Reverse Mortgage Limit! HUD released their announcement verifying the news we released on November 28, 2018 raising the Mortgage Lending Limits for HECM Loans. The numbers came in exactly where we expected and so the article, we posted on November 28, 2018 is now official. But remember, the new limits are only effective with Case Numbers... Read Full Article
2 comments Another year has come and gone… Where is the time going? It sounded strange to say 2017 all year and now 2018 is upon us. This year, the reverse mortgage industry experienced many changes. 2017 HUD Surprised Industry with Massive Changes In September, HUD sent the entire industry into a tailspin by announcing changes that were to take effect... Read Full Article
8 comments Breaking: HUD Increases 2019 Reverse Mortgage Limits to $726,525 Higher Reverse Mortgage Limits Coming January 1st 2018 Starting in 2018, lending limits for government-insured reverse mortgages will increase, allowing borrowers the opportunity to access more of their home equity than ever before. The vast majority of reverse mortgages are federally-insured Home Equity Conversion Mortgages (HECMs) that are backed by... Read Full Article
2 comments Higher Reverse Mortgage Limits Coming in 2017 Starting in 2017, lending limits for government-backed reverse mortgages will increase, allowing borrowers the opportunity to access more of their home equity than ever before. The vast majority of reverse mortgages are federally-insured Home Equity Conversion Mortgages (HECMs) that are backed by the Federal Housing Administration. These loans allow homeowners age... Read Full Article
no comments FHA Increases HECM Loan Limit The maximum claim amount for FHA-insured Home Equity Conversion Mortgage (Reverse Mortgage) will increase from its current $625,500 limit to $636,150 in 2017, according to Mortgagee Letter 2016-19 published today by the Department of Housing and Urban Development. This new MCA – which is equal to 150 percent of the Freddie Mac national conforming limit... Read Full Article
no comments If you’re in the process of applying for a reverse mortgage, or if you have been considering tapping into your home equity with a government insured Home Equity Conversion Mortgage (HECM) loan, a recent change may mean you can qualify for more loan proceeds. HUD surprised everyone with a Mortgagee Letter of the changes at the very end of June and... Read Full Article
no comments Loan limits for government-insured reverse mortgages have kept stable at a maximum claim amount of $625,500 for 2014. For borrowers in high-valued homes, this means you will retain your ability to access your home’s equity as a new reverse mortgage borrower. Next year’s limits for the Federal Housing Administration-insured Home Equity Conversion Mortgage (HECM) program remain unchanged from 2013.... Read Full Article
no comments OFFICIAL: FHA Announces Fixed Rate Standard Reverse Mortgage Elimination Date.. On December 6, 2012, HUD issued Mortgagee Letter 12-26 which among other things, announced the extension of the $625,500 maximum limit on the Home Equity Conversion Mortgage (HECM or "Heck-um") program. The lending limit shall remain at 625,500 through December 31, 2013. Excerpts from that Mortgagee Letter appear below: This... Read Full Article
1 comment 2013 Update: Reverse Mortgage $625,500 Limits have been extended! FHA Confirms 2012 Reverse Mortgage Limits The Federal Housing Administration announced last week through its listserv that the current reverse mortgage loan limit of $625,500 will remain in effect for 2012 and that a mortgagee letter stating this policy is pending. “Lenders are reminded that the maximum claim amount for HECMs... Read Full Article
no comments In Mortgagee Letter 11029 HUD announced that they will extend the current reverse mortgage Loan Limit of $625,500 on the Home Equity Conversion Mortgages (HECM or "Heck-um") from its current date of expiration of September 30, 2011 to December 31, 2011. The letter states that HUD does leave an opening for the fact that legislation may be enacted to extend... Read Full Article