Stimulus Update: FHA’s HECM (Home Equity Conversion Mortgage) Reverse Mortgage lending limits have been raised to $625,000 for 2009. The amounts listed below is the maximum dollar amount that each lender can provide to a borrower.
This site will analyze each week who is offering the best terms at the lowest cost. We use the lenders Calculators from their website.
Each week we will equally apply the same age, home value and interest rate factors and rank the results accordingly.
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Reverse Mortgage Borrowers, Counselors, and Industry Professionals Have Benefited From This Site
Week of June 12, 2009
Facts used in this comparison:
Borrower Age: 01/01/1928 (81 years old)
Home Value: $500,000
Property Zip: 92506
Loan Limit: $625,000 (only for 2009)
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