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Conforming Loan Limits 2024: Now Up To $766,500

Updated: Mar 19

Conforming Loan Limits 2024 - Now Available Up To $766,500: What You Need To Know

The Federal Housing Finance Agency (FHFA) increased the baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac to $766,550 in 2024, marking a 5.5% increase from the current limit of $726,200. At Bennett Capital Partners, we are proud to offer the updated loan limits to our valued clients in Florida.

This article will explore how this significant change can positively impact your home buying or investment strategies. Let's dive into the details and discover how these new rules can unlock greater opportunities.

Key Takeaways

The baseline conforming loan limit for single-unit properties offered through Bennett Capital Partners is now $766,500 from $726,200 in most areas.

To get a quote or pre-approval for the new loan limits follow our application process.

The increase in loan limits is due to factors like rising house prices and economic influences on the housing market. However, some concerns about affordability and stricter qualification requirements remain.

It's important to understand the differences between jumbo loans (for higher loan amounts) and conforming loans (following Fannie Mae/Freddie Mac guidelines), as they have varying interest rates and qualifications.

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Bennett Capital Partners Now Offering 2024 Conforming Loan Limits up to $766,500

Bennett Capital Partners Now Offering 2024 Conforming Loan Limits up to $750,000

We at Bennett Capital Partners are thrilled to announce that our 2024 conforming loan limits have reached new heights, with available loan amounts soaring up to $766,500. This is a significant milestone in our commitment to providing flexible and competitive financing solutions.

Check real-time mortgage rates

For the most up-to-date and competitive mortgage rates in Florida, make sure to visit our Florida Mortgage Rates page. Here, you can find real-time information that will help you in making the best financial decision for your mortgage needs

How to get a custom quote

Getting a quote for 2024 conforming loan limits up to $766,500 is simple. Follow these steps:

🎯 Go to our QUICK QUOTE TOOL and one of our brokers will it review and get back to you within minutes.

How to get a pre-approval

Getting a pre-approval for the new 2024 conforming loan limits is not tough. Just follow these steps:

🎯 Go to our PRE-APPROVAL REQUEST and one of our brokers will it review and get back to you within minutes.

How to Apply

🎯 Go to our ONLINE APPLICATION and one of our brokers will review it and get back to you within minutes.

Conforming Loan Limit Changes from 2023 to 2024

Conforming Loan Limit Changes from 2023 to 2024

The conforming loan limit for 2024 has increased compared to the previous year's limit, allowing borrowers to qualify for higher loan amounts.

2024 Conforming Loan Limits (Conventional)

Conventional Loan Limits for Different Unit Types


  • Current: $726,200

  • New: $766,500

  • Change: ↑ $40,300


  • Current: $929,850

  • New: $981,500

  • Change: ↑ $51,650


  • Current: $1,123,900

  • New: $1,186,350

  • Change: ↑ $62,450


  • Current: $1,396,800

  • New: $1,474,400

  • Change: ↑ $77,600

2024 High-Cost Loan Limits, Including Hawaii and Alaska (Conventional)

High-Cost Loan Limits for Different Unit Types


  • Current: $1,149,825

  • New: No change to Loan Limits in High-Cost Counties for 2024


  • Current: $1,472,250

  • New: No change to Loan Limits in High-Cost Counties for 2024


  • Current: $1,779,525

  • New: No change to Loan Limits in High-Cost Counties for 2024


  • Current: $2,211,600

  • New: No change to Loan Limits in High-Cost Counties for 2024

The New 2024 Conventional Loan Limits

The New 2024 Conventional Loan Limits

In 2024, the new conventional loan limit for single-unit properties offered through Bennett Capital Partners is $766,500 of 1-unit properties, providing homebuyers and investors with more flexibility in their financing options.

For multi-unit properties, the limits will vary depending on the number of units.

These increased loan limits open up opportunities for borrowers to afford higher-priced homes and potentially expand their real estate investments.

1-Unit Properties

For 1-unit properties, the conforming loan limit now offered is $766,550. This means that if you're looking to buy a single-family home or a property with only one unit, you may be eligible for a loan up to this amount with as little as 3% Down.

Whether you're a first-time buyer or looking to upgrade, these increased limits can help make your homeownership goals more achievable.

2-4 Unit Properties

Exciting News for Multi-Unit Property Buyers! Bennett Capital Partners is now offering enhanced conforming loan limits for multi-unit properties. We've raised the bar with limits starting at $981,500 for 2-unit properties, extending to $1,186,350 for 3-unit properties, and reaching a remarkable $1,474,400 for 4-unit properties. This means you can now qualify for higher loan amounts within the conforming loan limit range when purchasing multi-unit properties. Seize this opportunity to expand your real estate portfolio with Bennett Capital Partners.

This is good news for investors or individuals who are interested in buying properties with multiple units. With the new limits in place, it's important to explore your options and see how these changes can benefit you.

Keep in mind that financing multi-unit properties can vary significantly across different lenders, each with their own unique requirements and policies. This is where Bennett Capital Partners comes into play. We collaborate with hundreds of conforming lenders, providing you with a wealth of options and insights.

By choosing to work with us, you gain access to a broad spectrum of lenders who are well-versed in loans within the new conforming loan limit range. Let us help you simplify the process and find the financing solution that best fits your needs.

Understanding Jumbo Loans vs Conforming Loans

Jumbo loans and conforming loans have key differences in terms of loan limits and qualifications. Jumbo loans are for higher loan amounts that exceed the conforming loan limit, while conforming loans follow the guidelines set by Fannie Mae and Freddie Mac.

Each option has its pros and cons, so it's essential to understand which one is suitable for your financial situation.

Key Differences

When comparing jumbo loans and conforming loans, understanding the key differences between the two is crucial. Below is a table highlighting these differences.

Pros and Cons

While analyzing the new conforming loan limits for 2024, it is essential to understand the pros and cons of these changes. Here's a summary of what you need to know:

Remember, it is important to consider these pros and cons when making the decision to take advantage of the new conforming loan limits for 2024.

Minimum and Maximum Loan Amounts in 2024

 Minimum and Maximum Loan Amounts in 2024

While the official announcement from the Federal Housing Finance Agency (FHFA) is still forthcoming, Bennett Capital Partners is proactively embracing the increase in conforming loan limits. For 2024, the the maximum loan amount for one-unit properties to be around $766,500.

This forward-thinking approach ensures our clients are well-prepared to capitalize on these expected changes, offering them a head start in their real estate endeavors..

Minimum Loan Amounts

The minimum loan amount for conventional mortgages is not defined by a set number, but rather by the smallest amount that a lender is willing to lend. Bennett Capital Partners Generally has a minimum loan amount of $60,000 for conventional mortgages.

Maximum Loan Amounts

Heading into 2024, we're poised to witness a significant shift in mortgage financing. Conforming loan limits have been increased to $766,500, opening up new avenues for borrowers to qualify for more substantial mortgage loans, whether for home purchases or refinancing endeavors. At Bennett Capital Partners, we're ready to offer these increased limits now, thanks to our collaboration with leading wholesale lenders who are spearheading this change.

While the exact loan amounts may vary depending on location and property type, this increase marks a pivotal moment in mortgage financing. It substantially expands access to affordable financing options, catering to a diverse range of properties within this new price bracket. For our clients, this means more opportunities and greater flexibility in realizing their homebuying dreams or refinancing needs with Bennett Capital Partners.



As we approach 2024, we're entering a transformative phase in the real estate financing world. The conforming loan limits have been uplifted to an impressive $766,500, signifying a substantial opportunity for both homebuyers and investors. This increase allows for greater borrowing capacity, empowering more individuals to pursue their property goals with added financial flexibility.

Understanding the nuances of these changes is crucial. It's not just about the raised limits; it's also vital to comprehend the distinctions between jumbo and conforming loans. Armed with this knowledge, you're positioned to make well-informed, confident decisions regarding your mortgage options. At Bennett Capital Partners, we're here to guide you through these changes, ensuring you navigate the evolving landscape of home financing with ease and clarity.

Commonly Asked Questions

What are conforming loan limits?

Conforming loan limits are limits established by loan type and location that determine the maximum loan amount that can be borrowed without requiring a jumbo loan.

Are the conforming loan limits for 2024 higher than the limits for 2023?

Yes, the conforming loan limits for 2024 have increased compared to the limits for 2023.

What is a jumbo loan?

A jumbo loan is a mortgage loan that exceeds the limits for conventional loans set by Fannie Mae and Freddie Mac. If you need a loan amount above the national conforming loan limit, you'll need a jumbo loan.

How does the national conforming loan limit affect mortgage rates?

The national conforming loan limit does not directly affect mortgage rates. Mortgage rates are influenced by various factors, including market conditions, lender policies, and borrower qualifications.

Are jumbo lenders different from conventional mortgage lenders?

Yes, jumbo lenders specialize in providing loans that exceed the limits for conventional loans. Conventional mortgage lenders cater to borrowers seeking loans within the conforming loan limits.

What is a VA jumbo loan?

A VA jumbo loan is a type of loan offered to military veterans and active-duty service members who need to borrow an amount that exceeds the national conforming loan limit for VA loans.

Can I still get a conventional loan if I need to borrow more than the conforming loan limit?

If you need to borrow more than the conforming loan limit, you'll need a jumbo loan. However, you may still want to consult with a conventional mortgage lender to explore your options and determine what suits your needs best.

How do conforming loan limits differ for high-cost areas?

In high-cost areas like certain metropolitan cities, the conforming loan limits are higher to accommodate the higher cost of housing. These limits are often referred to as high-cost area loan limits.

What factors should I consider when determining how much house I can afford?

When determining how much house you can afford, you should consider your income, expenses, credit score, down payment, and the terms of the loan you qualify for.



What are the conforming loan limits for 2024?

The conforming loan limits for 2024 are the new loan limit set by federal housing finance agencies that regulate how much a person can borrow to buy a house in 2024.

Why does the maximum conforming loan limit increase each calendar year?

The Housing and Economic Recovery Act of 2008 sets rules such as raising the mortgage limit every year, according to changes in the U.S house price index report which is published late November annually.

Are FHA and VA loans included in these new limits?

Yes, there are updated FHA and VA loan limits ahead of the new 2024 limits too. However, VA loans don’t have a hard cap so they might not need what’s called a VA Jumbo Loan.”

How do these increases affect homeowners seeking jumbo loans?

If your home costs more than what's set as maximum under this regulation then you’ll need a jumbo smart loan or also known as non-conforming mortgages from lenders who offer bigger amounts depending on certain factors like creditworthiness!

Where can I find increased conforming mortgage limits?

You'll find updated information about increased Conforming Mortgage Limits early each year from Federal Housing Finance Agency’s site or similar platforms providing such details.

Can larger units homes also get higher limits?

Yes! Not just single-family houses but up to four-unit properties could avail itself of higher value loans if it falls within high-cost county areas especially places like Alaska and Hawaii.

Philip Bennett

Philip Bennett

Philip is the owner and principal mortgage broker at Bennett Capital Partners, Bus. NMLS # 2046828. He earned his degree in Accounting and Finance from Binghamton University and holds a Master's Degree in Finance from NOVA Southeastern University. With more than 20 years of experience, Philip has been a leader in the mortgage industry. He has personally originated over $2 billion in residential and commercial mortgages.

Learn more about Philip Bennett's background and experience on our Founder's page. Whether you're a first-time homebuyer or a seasoned real estate investor, our team is here to help you achieve your real estate goals. Don't wait any longer, contact us today and let us help you find the right mortgage for your needs.

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