The fhfa announced today the updated baseline conforming loan limit for 2024 will be $766,550, an increase of $40,350 from 2023. The conforming loan limits for 2024 have increased and apply to loans delivered to fannie mae in 2024 (even if originated prior to 1/1/2024).
Each year, the fhfa adjusts the conforming loan limits based on its third quarter house price index (hpi). Those shopping for homes in 2024 with conventional conforming loans can take advantage of higher baseline conforming loan limits which typically offer better rates and pricing than jumbo loans.
Loan Limit Values For 2024.
What you need to know each year, the federal housing finance agency (fhfa) announces the conforming loan limits for the upcoming year.
The Fhfa Announced Today The Updated Baseline Conforming Loan Limit For 2024 Will Be $766,550, An Increase Of $40,350 From 2023.
Each year, the fhfa adjusts the conforming loan limits based on its third quarter house price index (hpi).
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Beginning January 1St, 2024, Youโll Be Able To Get A Loan Amount As Large As $766,550 Backed By Fannie Mae Or Freddie Mac.
In years where home prices increase, the conforming loan limits generally go up, reflecting the need for larger loans to finance homes in a more expensive market.
Discover The 2024 Conforming Loan Limits Set By The Fhfa For Mortgages, Including How They Compare To 2023 Limits And Their Impact On Home Loans.
The fhfa announced today the updated baseline conforming loan limit for 2024 will be $766,550, an increase of $40,350 from 2023.