Expert Advice


Fannie Mae and Freddie Mac are restricted by law to purchasing single-family mortgages with origination balances below a specific amount, known as the “conforming loan limit” (CLL) value.  Loans above this limit are termed ‘jumbo loans.’

Effective for Mortgages with Settlement Dates on or after January 1, 2024

The Feddie Mac baseline conforming loan limit values and designated High-Cost Area loan limits increase effective January 1, 2024.

Property type On or before December 31, 2023 On or after January 1, 2024
Baseline conforming loan limit values High-Cost Area conforming loan limit values Baseline conforming loan limit values1 High-Cost Area conforming loan limit values
Mortgages secured by 1-unit properties $726,200 $1,089,300 $766,550 $1,149,825
Mortgages secured by 2-unit properties $929,850 $1,394,775 $981,500 $1,472,250
Mortgages secured by 3-unit properties $1,123,900 $1,685,850 $1,186,350 $1,779,525
Mortgages secured by 4-unit properties $1,396,800 $2,095,200 $1,474,400 $2,211,600

Actual conforming loan limit values for specific counties in designated High-Cost Areas, as determined by the FHFA, may be lower than the amounts listed above and can be found by visiting the FHFA conforming loan limit values webpage.

For conforming Mortgages secured by properties in designated High-Cost Areas, notwithstanding the loan limit values shown in the above chart, Sellers must review the 2024 conforming loan limit values permitted for the specific county in which the property is located. The FHFA provides this information on its website.

High-Cost Areas applicable to the First-Time Homebuyer Credit Fee Cap, as described in Guide Exhibit 19A, Credit Fee Cap Eligibility Criteria, will be determined based on whether the Mortgaged Premises is located in a High-Cost Area as of the Application Received Date or the Note Date. Loan Selling Advisor® will determine whether the Mortgaged Premises is located in a High-Cost Area.

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