FHFA raises conforming loan limits for 2024

The Federal Housing Finance Agency increased the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2024.

National Baseline: The limit for one-unit properties in most parts of the country will rise to $766,550, an increase of $40,350 from 2023.

High-Cost Areas: The maximum loan limit will be $1,149,825 in areas in which 115% of the local median home value exceeds the baseline loan limit and for one-unit properties in Alaska, Hawaii, Guam, and the U.S. Virgin Islands.

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