BREAKING NEWS: 2020 HECM Loan Limits Raised to $765,600

BREAKING NEWS: 2020 HECM Loan Limits Raised to $765,600

The U.S. Department of Housing and Urban Development will be raising the maximum loan limit for Home Equity Conversion Mortgages from its current level of $726,525 to $765,600 effective for case numbers assigned on or after January 1, 2020.

This new maximum claim amount is also applicable to Freddie Mac’s special exception areas: Alaska, Hawaii, Guam, and the Virgin Islands.

Details are provided in Mortgagee Letter 2019-20, which HUD just published.