FHA Increases Loan Limits for 2024
The Federal Housing Administration (FHA) on Nov. 28 announced its loan limits for 2024. The nationwide rise in median home prices indicates most buyers across the country will see increases.
The FHA floor will increase from $472,030 to $498,257 for single-family home loans. The floor amount is the lowest the FHA loan limit can be for any area of the country. FHA’s ceiling loan limits, the maximum loan amount the agency will insure, will increase from $1,089,300 to $1,149,825 for a single-family property. The ceiling rises even higher to $1,724,725 in Alaska, Hawaii, Guam and the U.S. Virgin Islands.
The following table lists the 2024 FHA loan limits for low- and high-cost areas:
| Property Size | Low-Cost Area “Floor” | High-Cost Area | Alaska, Hawaii, Guam and U.S. Virgin Islands “Ceiling” |
| One-Unit | $498,257 | $1,149,825 | $1,724,725 |
| Two-Units | $637,950 | $1,472,250 | $2,208,375 |
| Three-Units | $771,125 | $1,779,525 | $2,669,275 |
| Four-Units | $958,350 | $2,211,600 | $3,317,400 |
The new loan limits will apply to all loans assigned FHA case numbers on or after Jan. 1, 2024. The 2024 FHA loan limits by Metropolitan Statistical Area (MSA) or county can be reviewed on FHA’s loan limits page.
FHA also increased the loan limits for its Home Equity Conversion Mortgage (HECM), or reverse mortgage program, to $1,149,825 effective Jan. 1, 2024. The HECM program regulations do not allow loan limits to vary by MSA or county, so this limit applies to all mortgages regardless of location.
View the HUD press release for more details.
Latest from NAHBNow
IBS
Dec 31, 2025
Your Ultimate Guide to the 2026 International Builders’ ShowThe NAHB International Builders’ Show® (IBS) is where tens of thousands of residential construction pros from around the world come to see what’s new and what’s next in home building.
Education
Dec 30, 2025
NAHB's Most Engaging Shop Talk Sessions of 2025The most popular discussions featured topics such as the next generation of women in construction, social media strategies to elevate your business and the art of networking.
Latest Economic News
Economics
Dec 22, 2025
State-Level Employment Situation: September 2025In September 2025, nonfarm payroll employment was largely unchanged across states on a monthly basis, with a limited number of states seeing statistically significant increases or decreases. This reflects generally stable job counts across states despite broader labor market fluctuations. The data were impacted by collection delays due to the federal government shutdown.
Economics
Dec 19, 2025
Existing Home Sales Edge Higher in NovemberExisting home sales rose for the third consecutive month in November as lower mortgage rates continued to boost home sales, according to the National Association of Realtors (NAR). However, the increase remained modest as mortgage rates still stayed above 6% while down from recent highs. The weakening job market also weighed on buyer activity.
Economics
Dec 18, 2025
Lumber Capacity Lower Midway Through 2025Sawmill production has remained essentially flat over the past two years, according to the Federal Reserve G.17 Industrial Production report. This most recent data release contained an annual revision, which resulted in higher estimates for both production and capacity in U.S. sawmills.