Congress Extends Higher HECM Loan Limits

Congress, last night, passed a continuing resolution that keeps the federal government funded through early December and extends the current maximum HECM loan limit of $625,500 through September 30, 2011.

The current maximum FHA single-family mortgage limit of $729,750 was also extended. Had the extension not been approved, the HECM loan limit would have reverted back to $417,000 after December 31.