The 2024 loan limits are announced!
Both conventional and FHA have increased their limits due to the increase in home values.
For areas of the country where the average home price is higher (coastal cities and Hawaii, for example), the loan limit is higher. That is called “High-Cost” and it is not a jumbo loan (which is pricier).
The loan limits for VA loans and USDA (rural) loans did not change.
Speak with your local mortgage broker to find out what you qualify for.
