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Big Changes To FHA Loan Limits in 2024

Before purchasing a house, there are numerous essential tasks to tackle. From neighborhood research to credit maintenance and finding your dream home, the to-do list seems never-ending. Amidst these considerations, financing stands out as a key priority.

FHA loans provide an accessible mortgage option for a diverse range of individuals. They offer more flexibility compared to conventional alternatives, simplifying the approval process for those facing challenges. However, the borrowing limit is influenced by the year and location.

For those considering an FHA loan, understanding the FHA loan limits for 2024 is crucial. Let’s delve into the details.

Understanding FHA Loan Limits 

Not all prospective homeowners can secure easy financing or meet the requirements for a traditional loan. An FHA loan, supported by the Federal Housing Administration (FHA) under the Department of Housing and Urban Development (HUD), offers a solution. Backed by insurance, these loans safeguard lenders against losses in case of borrower default.

Typically appealing to first-time buyers and those with less-than-ideal credit, FHA loans feature low down payments and accommodate individuals with lower credit scores. However, borrowers are obligated to pay mortgage insurance. Moreover, FHA loans have set maximum limits dictating the borrowing amount. These limits rely on two key factors: the property’s location (low-cost or high-cost area) and the property type (single-family or multi-family).

Although both FHA and conventional loans have limitations, they differ in terms of boundaries. In 2024, conventional loans for single-family homes have a limit of $766,550 in most states, while Alaska, Hawaii, and high-cost regions have a cap of $1,149,825.

See What You Qualify For

2024 FHA Loan Limits

Annually, updated loan limits for FHA loans come into effect on January 1. For 2024, the cap in high-cost metropolitan areas stands at $1,149,825, contrasting with $498,257 in regions with more affordable housing. Your specific limit hinges on your property’s location. Notably, Alaska and Hawaii boast distinct loan limits tailored to their elevated construction expenses.

FHA Maximum Loan Limits

Below are the FHA loan limits for 2024, categorized by low-cost and high-cost areas.

2024 FHA Loan Limits


National Loan Limit Floor

Maximum Loan Amount in High-Cost Areas

Alaska and Hawaii

















Find Your County’s FHA Loan Limits

FHA loan limits can differ based on county property values, so your specific limit may vary. To discover the maximum and minimum amounts applicable in your county, you can utilize HUD’s FHA mortgage limits page.

Key Insight: Familiarize Yourself with the FHA Loan Limits in Your Region

FHA loan limits vary by county, adjusted annually by the FHA to reflect market conditions. In 2023, these limits were updated in response to rising home prices. Prospective homebuyers should be aware of these limits when exploring FHA loan choices and lenders in their area. 


If you’re eager to begin your home buying journey, kickstart the mortgage approval process with Elevation Mortgage today.

Picture of Reed Letson

Reed Letson

Reed offers two decades of expertise as a mortgage broker, focusing on veterans and first-time home buyers. With a strong grasp of real estate and mortgage markets, he empowers clients with practical insights. Reed's passion is guiding clients to build wealth through real estate investments and financing solutions.

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