The 2024 national loan limit (maximum claim amount) for the HECM is $1,149,825.

Direct answer

For exam or quiz-style options such as:

  • $625,500
  • $822,375
  • $970,800
  • $1,149,825

the correct choice to “which of the following is the 2024 loan limit for the HECM?” is $1,149,825.

Quick scoop on the 2024 HECM limit

  • The Federal Housing Administration set the 2024 HECM maximum claim amount at $1,149,825 , effective January 1, 2024.
  • This represents an increase from the 2023 limit of $1,089,300, reflecting rising home prices and FHA’s annual adjustment.
  • Unlike standard FHA forward loans, the HECM limit is a single nationwide figure and does not vary by county or metro area.

In practical terms, this means only the first $1,149,825 of a home’s value can be considered when calculating HECM proceeds in 2024, even if the property is worth more.

TL;DR: The correct 2024 HECM loan limit answer choice is $1,149,825.

Information gathered from public forums or data available on the internet and portrayed here.