2024 HECM Limit Increased: Here's why - HECMWorld.com Skip to content

2024 HECM Limit Increased: Here’s why



FHA has announced that the HECM limit will be increased effective January 1st, 2024. The new HECM limit or the maximum home value that may be considered in the federally-insured reverse mortgage is $1,149,825. This applies to traditional HECMs, HECM-to-HECM refinances, and purchase transactions with case numbers assigned in the calendar year 2024. This effectively increases the HECM limit by $60,525 higher than 2023’s limit.


So how is the HECM limit calculated? The HECM limit is one-and-a-half times or 150% of the Federal Housing Finance Agency’s annual conforming limit. The conforming loan limit is the maximum dollar amount of a mortgage that Freddie Mac or Fannie Mae is willing to purchase or guarantee. Since the 2024 conforming limit is…


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  1. Excellent description of the workings of how the maximum lending limit for the HECM is created by FHA.

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