Hart County, KY Reverse Mortgage Snapshot
FIPS: 21099 • Hart County Metro / Micropolitan, KY • Market Tier: Underserved
Hart County Executive BLUF Summary
Hart County audited via US Census ACS 5-Year. Rapid home appreciation and local civic debt indicate substantial forward HECM Line of Credit demand.
Strategic Key Takeaways
- •Estimated Senior Home Equity (62+): $0.15 Billion.
- •Average Maximum Claim Amount (MCA): $124,740.
- •Senior Homeownership Rate: 50%.
- •Regulatory: Operates under Kentucky's Standard HUD/FHA compliance framework and HUD 4000.1 guidelines.
3,638 seniors (Age 62+)
Prior Year: 9
Median Home: $115,500
FHA Cap: $1,149,825
Hart County Endorsement & MCA Trajectory
Annual FHA single-family reverse mortgage activity
Top FHA Approved Reverse Mortgage Lenders in Hart County
Mutual of Omaha Mortgage
Direct Endorsement Approved
Finance of America Reverse
Direct Endorsement Approved
Fairway Independent Mortgage
Direct Endorsement Approved
Longbridge Financial
Direct Endorsement Approved
Estimate HECM Line of Credit for Hart County Homeowners
Institutional FHA HECM Principal Limit Calculator
HUD Mortgagee Letter 2017-17 Actuarial Matrix • Active FHA MCA Cap: $1,149,825
Under HUD ML 2014-07, spouses of any age can be named as an Eligible Non-Borrowing Spouse, securing statutory rights to remain in the home indefinitely after the borrowing spouse passes away.
Available immediately as an unused, guaranteed growing Line of Credit, or distributed as monthly tenure payments for life.
10-Year Line of Credit Compounding Trajectory
| Year | Available Line | Loan Balance | Est. Retained Equity |
|---|---|---|---|
| Year 0 | $149,600 | $139,000 | $511,000 |
| Year 2 | $170,478 | $158,398 | $537,898 |
| Year 4 | $194,269 | $180,504 | $565,386 |
| Year 6 | $221,380 | $205,694 | $593,322 |
| Year 8 | $252,275 | $234,400 | $621,526 |
| Year 10 | $287,482 | $267,112 | $649,777 |