What are the Federal Housing Administration Loan Limits?
The FHA loan limits for 2024 allow homebuyers to borrow up to $498,257 for a single-family house in most areas of the country. Those buying a property in a “high-cost” location may be eligible for a loan of up to $1,149,825. FHA loan limitations specify the maximum amount you can borrow with an FHA-backed mortgage.
Number of Units | Lowest Loan Limit | Highest Loan Limit | Special Exception Areas: Alaska, Hawaii, Guam, and the Virgin Islands |
---|---|---|---|
1 | $498,257 | $1,149,825 | $1,724,725 |
2 | $637,950 | $1,472,250 | $2,208,375 |
3 | $771,125 | $1,779,525 | $2,669,275 |
4 | $958,350 | $2,211,600 | $3,317,400 |
FHA loan limits are determined by the type of property being purchased as well as the county or Metropolitan Statistical Area (MSA) in which it is situated. The FHA mortgage limitations finding tool on the FHA website can help you determine the specific limits for your area. The closer you live to an expensive city, the greater your loan limit is likely to be.
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