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The Federal Housing Finance Agency (FHFA) publishes annual conforming loan limit values that apply to all conventional loans delivered to Fannie Mae. These include baseline and high-cost area loan limits; high-cost areas vary by geographic location.
Conforming loan limits update every year to adapt to the change in home prices. Learn how much the conforming loan limit is for 2024 and more with our guide.
What Is the Conforming Loan Limit? The conforming loan limit is the dollar cap on the size of a mortgage the Federal National Mortgage Association (known colloquially as Fannie...
Fannie Mae and Freddie Mac are restricted by law to purchasing single-family mortgages with origination balances below a specific amount, known as the “conforming loan limit” (CLL) value. Loans above this amount are known as jumbo loans.
For 2024, the FHFA raised the baseline conforming loan limit to $766,550,200. In higher-cost regions, the limit is even higher — up to $1,149,825.
For 2024, the conforming loan limit for a one-unit property in much of the country is $766,550, which is a 5.6% increase from the 2023 limit of $726,200. In high-cost areas, loans are capped at...
For much of the U.S., the divide between conforming loans and jumbo mortgages will be $766,550 in 2024, increasing from 2023's limit.