FHA increased the home equity conversion mortgage (HECM) limits for 2021. The maximum claim amount for FHA-insured HECMs in 2021 will be $822,375 (an increase from $765,600). The maximum claim amount of $822,375 is also applicable to the special exception areas of Alaska, Hawaii, Guam, and the Virgin Islands. The HECM limits apply to HECMs with case numbers assigned on or after January 1, 2021.
Click to view the FHA Mortgagee Letter 2020-42: https://www.tenaco.com/wp-content/uploads/2020/12/FHA-Mortgagee-Letter-2020-41.pdf
