The maximum loan amount for a reverse mortgage depends on the type of reverse mortgage, your age, and the appraised value of your home. Assuming your home is worth $970,800 or more, the maximum loan amount for the FHA reverse mortgage ranges from about $407,000 to about $$727,000. If you have a home that is worth more than $970,800 (which is the FHA Max Claim Amount for reverse mortgage), then you may qualify to get more money with a Jumbo Reverse Mortgage Program. The Jumbo Reverse Mortgage allows loan amounts up to $4,000,000 and you can also go as high as $6,000,000 on an exception basis. If you prefer, you can also take a look at this video about Jumbo Reverse Mortgage in California.
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