HappySeniorHomeOwners Blog

Great News for Homes Valued at $765,600 or More!!!

September 15th, 2020 1:56 PM by Juan Luis Rodriguez-Kohly

As of January 1, 2020 Federal Housing Administration (FHA) has increased the Maximum Lending Limit for Reverse Mortgages from the old $636,150 to a new $765,600..

Even though the increase is not large, it is an improvement for homes worth more that $765,600.

This means that if your home is worth more than $765,600., (ie $800,000) the maximum value FHA will consider it to be is $765,600. To this amount FHA will apply the age factor, to give a specific loan amount for that borrower.

However, for Higher Value Homes we can offer you a Proprietary Reverse Mortgage with Loan Amounts up to $3,000,000


If you have any questions please call me at 786-262-6486  or email at RodKohly@gmail.com


Posted by Juan Luis Rodriguez-Kohly on September 15th, 2020 1:56 PM

Archives:

My Favorite Blogs:

Sites That Link to This Blog:


Great Florida Lending, Inc

¡No Solo Soy Especialista en Hipotecas Revertidas, Tambien Soy Un Cliente!!!

2828 Coral Way, Ste. 470
Miami, FL 33145