Reverse Mortgages in Your State

HECM Loan Amounts

The most popular reverse mortgage utilized by more homeowners than any other loan is the FHA/HECM (Home Equity Conversion Mortgage). The HECM loan is available in every state. The national loan limit or maximum loan amount is $625,500. Alaska, Guam, Hawaii and the Virgin Islands are allowed a higher limit. If you are located in one of those areas, please request a quote or call us at 1-888-269-1098.

Proprietary Reverse Mortgage Limits

Proprietary reverse mortgages (other than the HECM) are offered by various lenders throughout the country. Mainly the proprietary loans are used by homeowners that have exceptionally high value properties. Often times the proprietary reverse mortgages will offer a much higher loan amount than the HECM reverse mortgage. This is an advantage for someone with a very high priced home with a lot of equity. However, these loans usually do not offer as many options for how to receive the loan proceeds as the HECM reverse mortgage. The proprietary loans also are not insured by FHA like the HECM is.

State by State Considerations

Each state varies with regard to closing costs. With the HECM reverse mortgage the government mandates that third party closing costs, such as appraisal, title, termite inspection, etc. not exceed what is "customary" for the local market place. Lenders that offer proprietary reverse mortgage products generally adhere to this practice as well, in order to remain competitive.

Specific requirements for applying for or obtaining a reverse mortgage in your state can be found within the individual state listings below. If your state is not listed please contact one of our reverse mortgage specialists, TOLL- FREE at 1-888-269-1098

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Reverse Mortgages in Your State

HECM Loan Amounts

Proprietary Reverse Mortgage Limits

State by State Considerations

Find Reverse Mortgage Information for Your State