Conforming Loan Limits For 2024

Conforming Loan Limits For 2024. If you borrow less than the conforming loan limit, you have a conforming loan. In 2023, a conforming loan remains your trusty sidekick abiding by the guidelines set by fannie mae and freddie mac but this year, it’s strutting around with increased loan limits to match the rising home prices.

The limits are based on the median home value in each u.s. You’ll need a jumbo loan if your mortgage amount exceeds the conforming loan limit.