Rhode Island Reverse Mortgage Market Report
Statewide HECM Portfolio • Regulatory Framework: Enhanced Counseling Mandate
Rhode Island Executive Market BLUF
Rhode Island requires specialized counseling notifications; volume is concentrated in Providence and coastal Kent County.
Strategic Key Takeaways
- •Statewide senior home equity: $60.0 Billion.
- •Average Maximum Claim Amount (MCA): $473,000.
- •Annual endorsement momentum: +11.8% YoY.
- •Regulatory category: Enhanced Counseling Mandate.
250,000 seniors age 62+
Rank #43 Nationwide
Prior Year: 170
Median Home: $440,000
Rhode Island HECM Endorsement History
Annual volume trajectory vs average claim amount
Top HECM Origination Counties in Rhode Island
5 Total Counties TrackedRhode Island County-Level HECM & Senior Equity Directory (5 Jurisdictions)
Complete county-by-county reverse mortgage endorsements, average Maximum Claim Amounts, and senior housing wealth in Rhode Island.
| County | FIPS | Endorsements YTD | Avg MCA | Senior Equity | YoY Velocity |
|---|---|---|---|---|---|
| Providence County | 44007 | 110 | $335,340 | $12.9B | +6.5% |
| Washington County | 44009 | 95 | $470,880 | $5.0B | +6.5% |
| Newport County | 44005 | 68 | $543,996 | $4.2B | +6.5% |
| Kent County | 44003 | 40 | $330,480 | $4.1B | +6.5% |
| Bristol County | 44001 | 34 | $479,196 | $1.8B | +6.5% |
Calculate Borrowing Power in Rhode Island
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 |