The Federal Housing Administration has just announced that it will increase the maximum claim amount for Home Equity Conversion Mortgages in calendar year 2024 from $1,089,300 to $1,149,825 effective for case numbers assigned on or after January 1, 2024.This new maximum claim amount is also applicable to Freddie Mac’s special exception areas of Alaska, Hawaii, Guam and the Virgin Islands.Details were published in Mortgagee Letter 2023-22 and will be included in a future Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1) release.
Is a reverse mortgage right for you?
Get the facts from a qualified reverse mortgage specialist.
Who Might Benefit from Knowing More About Reverse Mortgages?
• Seniors looking to improve cash flow.
• Adult Children looking to help their parents age in place.
• Trusted Advisors wanting to protect their clients’ interest.
• Realtors wanting to help seniors purchase a new home.
Who Might Benefit from Knowing More About Reverse Mortgages?
• Seniors looking to improve cash flow.
• Adult Children looking to help their parents age in place.
• Trusted Advisors wanting to protect their clients’ interest.
• Realtors wanting to help seniors purchase a new home.
Galen Elise Call, CRMP
Certified Reverse Mortgage Professional
NMLS 226129
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Licensed by the Department of Corporations under the California Residential Mortgage Lending Act
Licensed by the Department of Financial Protection and Innovation under the CRMLA
California zip codes served: 93940, 93901, 93905, 93908, 93921, 93933, 93943, 93950, 93953, 93955, and 93962
Not available in New York.
Copyright © 2025 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies are subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.
3000 Lava Ridge Ct. Suite 103
Roseville, GA 95661
Branch NMLS #150590