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.

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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.

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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)
SingleDuplexTri-plexFour-plex
$498,257$637,950$771,125$958,350

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)
SingleDuplexTri-plexFour-plex
$1,149,825$1,472,250$1,779,525$2,211,600

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

FHA Mortgages Compared to Conventional Mortgages

February 2, 2024 - How do FHA mortgages compare to conventional loans? Aside from typical down payment issues, such as FHA having a 3.5% requirement and conventional loans having requirements that vary, there are other differences to know before you commit to one type of loan over the other.

How Long to Wait Before You Apply for a Home Loan

February 1, 2024 - Some people can apply for a new line of credit right away. They have great credit and repayment habits, and lenders love them. But plenty of us don’t fall into that neat little category, especially in the wake of the pandemic economy that burdened so many people during COVID.

How You Can Use an FHA Home Loan

January 31, 2024 - There are many uses for FHA home loans, and some borrowers don’t realize there are separate types of mortgage loans for various uses. FHA mortgages and related loan products aren’t just for buying suburban houses.

Learn More About FHA Loan Cash To Close

January 30, 2024 - Use an online mortgage calculator to estimate how much home you can realistically afford. Borrowers sometimes view that number as a bit flexible. However, be careful of what some in the industry describe as cost creep.

Demand for Home Loans Increasing

January 29, 2024 - If you are looking for a new home to purchase using an FHA loan, you are not alone. Interest in existing construction purchases has increased in the new year despite some interest rate fluctuations pushing rates higher in the short term.

Preparing For Your FHA Loan

January 28, 2024 - If you are preparing for a new home loan, there are many details to remember while you are still in the planning stages. Once you are ready to start filling out loan documents, your lender will need various information about your pay, financial position, employment, and related details.

Saving for Your FHA Loan

January 27, 2024 - What do house hunters need to save and plan for when buying a house in 2024? A few items have always been on the planning and saving list but have moved up in importance during the seller’s market in years past.

Home Loan Advice From CBS News

January 25, 2024 - It’s smart to shop aggressively for a lender to get the best rates and terms. The finance companies you review should be reputable, their terms and conditions should be clearly stated, and you should pick the lender who offers the most competitive rates.

Are Mortgage Rates Dropping?

January 24, 2024 - 2023 was supposed to be the year the housing market went into recovery. In the first weeks of 2024, we know that prediction never came to pass, but the new year is already shaping up to be a good time to reconsider entering the housing market as a buyer or seller.

FHA One-Time Close Construction Loan Limits: Higher in 2024

January 23, 2024 - Do you want to build a home from the ground up? You can do this with low down payment requirements with an FHA One-Time Close Construction Loan. And construction loan borrowing power has increased in 2024 because FHA loan limits have increased from the previous year.

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!