Conforming Loan Limit Increases in 2024

The Conforming Loan Limit will in fact rise in 2024, according to the Federal Housing Finance Agency.

• In most of the United States, the 2024 Conforming Loan Limit value for one-unit properties will be $766,550, an increase of $40,350 from 2023.

High Cost Areas. For areas in which 115% of the local median home value exceeds the baseline conforming loan limit value, the applicable loan limit will be higher than the baseline loan limit. HERA establishes the high-cost area limit in those areas as a multiple of the area median home value, while setting the ceiling at 150% of the baseline limit. The new ceiling loan limit for one-unit properties will be $1,149,825, which is 150% of $766,550.