Thursday, December 30, 2021

Reverse Mortgage Limits Will Jump in 2022

Senior couple standing in front of their home
Monkey Business Images / Shutterstock.com

House prices spent 2021 surging into the stratosphere. Now, the limits on certain reverse mortgages are rising, too. In 2022, the maximum claim amount on home equity conversion mortgages will rise to $970,800, up from $822,375, the Federal Housing Administration has announced. A home equity conversion mortgage, or HECM, is a type of reverse mortgage that is insured and backed by the federal...



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