The Federal Housing Administration increased the loan limits for 2024 in 3,338 counties across the country in order to keep up with escalating home prices. FHA limits inform borrowers of the maximum allowable loan amount available to purchase a home for every county. Home Purchase and Refinance Loans

FHA Loan Programs for 2024

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FHA Loan Requirements

Lower Standards for Credit Scores and Down Payments

Whether you're a first-time homebuyer, moving to a new home, or want to refinance your existing conventional or FHA mortgage, the FHA loan program will let you purchase a home with a low down payment and flexible guidelines.

580 Credit Score
- and only -
3.5% Down

FHA loan limits were established to define how much you can borrow for a HUD-backed mortgage. Each state has different limits, so be sure to look up your state to understand what is available for your FHA home loan.

For 2024, the FHA floor was set at $498,257 for single-family home loans. This minimum lending amount covers most U.S. counties. The FHA ceiling represents the maximum loan amount and is illustrated in the table below.

FHA Limits (low cost areas)

Also for 2024, the FHA ceiling was set at $1,149,825 for single-family home loans. This represents the highest amount that a borrower can get through the FHA loan program. It applies to high cost areas in the United States and is illustrated in the table below.

FHA Limits (high cost areas)

Paying the upfront costs of buying a new home can be challenging. To help overcome this hurdle, many local and state agencies offer down payment assistance in the form of grants or second mortgages.

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FHA Loan Articles and Mortgage News

Do FHA Borrowers Need a Real Estate Agent?

June 25, 2024 - There are many types of homes, home loans, and house hunters. There’s no one-size-fits-all solution for FHA loans, and knowing the right options for the right transaction is important. In the same way, there is no single criteria for deciding whether or not to use a real estate agent.

What to Know About FHA Down Payments and Earnest Money

June 23, 2024 - FHA home loans have a minimum down payment requirement of 3.5% for borrowers with qualifying FICO scores. Down payments are a crucial part of most home loan transactions. What should you know about down payments aside from the need to save early?

How to Compare FHA Lenders

June 21, 2024 - If you have never purchased a home with a home loan before, there are important steps to take during the process. One of the early steps to take is to compare lenders, but if you’ve never tried that before, consider some of these tips to make the process more borrower-friendly.

FHA Loan Limits for Manufactured Homes

June 20, 2024 - In March 2024, the FHA announced changes to the FHA loan limit structure, updating loan limits that had not been increased in 15 years at press time. This FHA program offers higher loan limits now, thanks to a drive to make this type of affordable housing more accessible.

What About Those Home Loan Myths?

June 19, 2024 - Plenty of home loan myths exist, especially around FHA mortgages. The usual not-true clichés about how FHA loans are only for first-time buyers or economically disadvantaged borrowers aren’t the only ones. We correct some of the most common ones in this article.

Buying A Home? Look at the Roof

June 17, 2024 - First-time homebuyers may feel they are disadvantaged when shopping for that first home. Typically, when someone is ready to make an offer on a property, there’s the option to include making the sale of the home contingent on the results of the home inspection. 

More Questions to Ask About Your Home Loan

June 15, 2024 - If you want to buy a house with an FHA mortgage, it pays to compare lenders to get the best rates and terms. You should also compare real estate agents and other service providers. There are some good questions to ask when comparing no matter which services you are evaluating.

FHA Cash-Out Refinancing Instead of a Renovation Refinance?

June 13, 2024 - With an FHA rehab loan, known as the FHA 203(k) rehab loan, you can buy or refinance a home needing improvement. This type of loan is possible, but the house must be brought into compliance with FHA minimum standards and local building code.

Employment and Income Rules for FHA Mortgages

June 11, 2024 - When some look at their loan approval potential, they think more about FICO scores than any other aspect of home loan approval. But income and employment count, too. We examine how influential those factors are below.

Home Loan Variables and Options to Consider

June 10, 2024 - At every stage in the home loan process, there are choices, starting with the basic decision to own your own home instead of renting someone else’s property. What other choices await you on your home loan journey?

If you’re getting ready to shop around for mortgage options, it’s a good idea to brush up on some of the technical terms in our Mortgage Glossary. You’re going to be hearing a lot of them!