Maryland Reverse Mortgage Information and Facts

1. Census Data Relevant to the Maryland Reverse Mortgage Market. It is helpful to understand the demographic make-up of Maryland's reverse mortgage eligible population. The following information comes from the US Census Bureau's 2005 American Community Survey.

The Census Bureau projects the senior citizen population in Maryland will change as follows in the years ahead:

2. Maryland's Home Value Growth. Home price increases are an important factor in the reverse mortgage decision. The information below comes from the quarterly Housing Price Index (HPI) published by the Office of Federal Housing Enterprise Oversight (OFHEO). These figures indicate the average percentage gain in value for homes in Maryland for the most recent 1-year and 5-year periods and, also, how the HPI rankings for Maryland compare to other states. Clearly, senior homeowners in areas with strong home price appreciation and substantial accumulated home equity are more apt to consider a reverse mortgage as a supplemental source of retirement income. Figures are updated quarterly (most recent update made 2/28/08 reporting 4th Quarter 2007 results).

3. Section HECM Loan Limits for Maryland. The federally-insured Home Equity Conversion Mortgage (HECM) program has limits on the size of loan that can be insured. These are known as "203b limits" and are set by HUD for each county in each state. Click on the link below for a list of current 203b Limits for each Maryland county.

County	HECM Limit	Last Revised
CALVERT	362,790	20060101
ST. MARY'S	289,750	20071004
CAROLINE	200,160	20080305
CHARLES	362,790	20060101
WORCESTER	332,499	20060203
CARROLL	362,790	20070101
WICOMICO	249,840	20080101
WASHINGTON	286,900	20080101
PRINCE GEORGE	362,790	20060101
CECIL	292,685	20070101
SOMERSET	249,840	20080101
KENT	248,588	20080101
HOWARD	362,790	20070101
BALTIMORE CIT	362,790	20070101
ANNE ARUNDEL	362,790	20070101
FREDERICK	362,790	20060101
ALLEGANY	200,160	20080305
TALBOT	282,150	20060203
HARFORD	362,790	20070101
MONTGOMERY	362,790	20060101
QUEEN ANNE'S	362,790	20070101
DORCHESTER	200,160	20080305
BALTIMORE	362,790	20070101
GARRETT	332,500	20080101

4. Reverse Mortgage Loan Activity in Maryland. Since September 2001, a total of 7,608 HECM reverse mortgages have been endorsed by HUD Offices located in Maryland. Maryland reverse mortgage endorsements represent 2.1% of the total 361,591 reverse mortgages originated throughout the United States during this timespan.

Over the past few years, the volume of reverse mortgage originations has grown in Maryland as well as the rest of the country. Following are HECM reverse mortgage statisitics for the period from September 2001 up to the current month (Oct-2008). The first chart shows the distribution of HECM loan originations by Maryland HUD Office region and the second chart shows year-to-year HECM loan growth. Further information on HECM loan activity can be found using the HECM Data Tool.

5. Maryland Reverse Mortgage Lenders. So, who are Maryland's top reverse mortgage lenders? The following table shows Maryland's top 25 originators of HUD HECM loans thus far for calendar year 2008:

The table below provides a longer term view of Maryland's top 25 lenders looking at the period from September 2001 up to the current month (Oct-2008). For a complete listing of Maryland reverse mortgage lenders, use this Maryland reverse mortgage lender directory.

ATTENTION REVERSE MORTGAGE LENDERS - if you are listed above as one of Maryland's top reverse mortgage lenders, you should consider turning your listing into a clickable hyperlink that will take visitors directly to your company's website. Your "live" link will appear for every state that you rank in the top 25 lenders. Reverse-Mortgage-Information.org is one of the leading sites on the web for seniors seeking independent information about reverse mortgages. For more information, contact us .