BREAKING NEWS: FHA pays out more money on reverse mortgages starting 1/1/2018
Since the Reverse Mortgage (RM) program inception in the 1980’s there has been a cap on the value a RM will use to qualify a borrower on the program. This year the cap is $636,150; meaning, if a home appraises for $1,000,000 the program only uses the max claim value…
Reverse Mortgage limits increase in 2017!
The reverse mortgage loan limit is the cap that the RM program puts on home values used to calculate your qualification. The current limit is set at $625,000 and has been cemented there for many years; even though home values in California have been steadily rising. The limit effectively caps…
