All HECM Reverse Mortgages are subject to the 203b loan limit (FHA Loan Limits) this is sometimes referred to as the "max claim" amount. When your reverse mortgage benefits are being calculated the lender must use the LESSER of your home's appraised value and the FHA Loan Limit.
For example if you live in a low cost county, the current loan limit is $200,500. If your home was worth 205,000 or 305,000 your benefit would be the same because the calculations would be based on the loan limit since it is LESS than the appraised value. If you value was only 190,000 then your calculations would be based on value.
Below is a list of Florida Counties that are above the base limit of $200,160. Any county in Florida not listed below is limited at $200,160.
ALACHUA $204,440
BAKER $294,500
BAY $300,960
BREVARD $221,350
BROWARD $362,790
CHARLOTTE $224,209
CLAY $294,500
COLLIER $362,790
DUVAL $294,500
FLAGLER $218,500
GILCHRIST $204,440
HERNANDO $222,300
HILLSBOROUGH $222,300
INDIAN RIVER $213,750
LAKE $268,850
LEE $270,750
MANATEE $336,100
MARTIN $276,640
MIAMI-DADE $362,790
MONROE $362,790
NASSAU $294,500
OKALOOSA $237,405
ORANGE $268,850
OSCEOLA $268,850
PALM BEACH $362,790
PASCO $222,300
PINELLAS $222,300
POLK $205,200
SARASOTA $336,100
SEMINOLE $268,850
ST. JOHNS $294,500
ST. LUCIE $276,640
SUMTER $211,375
VOLUSIA $230,177
WALTON $362,790