FHA Loan Limits By State For 2024

Click on Your State Below Check Your Maximum FHA Loan Limits By State For 2024

The National Loan Limits for 2024


Conforming Limits $766,550
Loan Limit ‘Floor’ $498,257
Loan Limits ‘Ceiling’ $1,149,825
HECM maximum claim amount $1,149,825


How Loan FHA Loan Limits in Each State Calculated in 2024?

The federal government establishes annual FHA Max loan limits each year based on local home price trends and a few additional factors.  There’s a maximum amount you can qualify for with each federal loan program before it’s considered a jumbo loan and the Department of Housing and Urban Development (HUD) has raised the eligibility criteria for most counties in the United States. This is how to calculate the new FHA loan limits for 2024

  1. Determine “Anchor” Loan Amount

    Before calculating the 2024 FHA floor and ceiling loan limits, HUD has determined what is considered an anchor loan amount. HUD/FHA uses the 2024 conforming loan limit (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac in 2024 set by the FHFA (not to be confused with FHA). The amount of the loan for an anchor in 2024 is $766,550 for single-family and multifamily home loans for homeowners.

  2. Calculate the 2024 Floor Loan Amount

    HUD calculates the FHA’s 2024 Floor Loan Amount based on two factors. This is the lowest amount that any MSA in the country can have as their Maximum FHA loan amount for 2024. These two elements are necessary for this project to be successful.

    1. Anchor Loan Amount: $766,550
    2. Factor: 65%

    The FHA Floor Loan Amount equals the 65% rate multiplied by the anchor loan amount
    $766,550 x 65% = $498,257 – FHA 2024 Floor Loan Amount

  3. Calculate the 2024 FHA Ceiling Loan Amount

    HUD determines the FHA ceiling loan amount by using an initial loan amount and the ceiling amount. This is the highest amount that any MSA can have as their Maximum FHA Loan amount for 2024 (except for high-cost areas).

    1. Anchor Loan Amount: $766,550
    2. Factor: 150%

    The FHA Ceiling Loan Amount equals the 150% rate multiplied by the anchor loan amount.  $766,550 * 150% = $1,149,825 FHA 2024 Ceiling Loan Amount

When the framework is set HUD has both the 2024 FHA Floor and Ceiling loan limits established. Each MSA then receives its annual FHA Loan Maximum based on FHA floor and ceiling limits and their local average home price.

FHA Loan Limits 1-4 multifamily units 2024

Finalizing an MSA’s 2024 FHA Loan Max

Each state’s MSA’s 2024 FHA Loan Limits come from 3 basic criteria. They are as follows:

  1. Area’s average home price
  2. FHA Floor Loan Limit
  3. FHA Ceiling Loan Limit

When an MSA’s average home price falls within the FHA Floor and Ceiling, that MSA’s average home price becomes its 2024 FHA Loan Max. However, when an MSA’s average home price falls outside of either the FHA Floor or Ceiling, then the appropriate limit becomes that area’s 2024 FHA max loan amount.

For example, areas/MSA’s with average home prices below $498,257take the FHA Max Loan amount at $498,257. In an area where the average home price exceeds $1,149,825 FHA Ceiling (except those noted below) take on a loan amount of $1,149,825 as their 2024 FHA Max Loan amount.

The FHA takes two key factors into account while setting lending limits: the location you reside in and the number of units you intend to purchase. The “floor” in a low-cost region will be lower than that in a high-cost area, and vice versa.

The FHA identifies high-cost locations based on the average income level, property price, and market demand. As a result, houses in heavily inhabited cities like Los Angeles will have a higher ceiling than rural or suburban areas.

Lending restrictions can differ based on the number of units you’re acquiring. A 2-unit, 3-unit, or 4-unit property will have a greater lending limit than a 1-unit home, for example.

Why Do FHA Loan Limits Matter?

  • FHA loan has less strict requirements and guidelines because FHA insures the loan and lenders are more protected in case of a default on the FHA mortgage loan
  • FHA mortgage interest rate might be slightly higher than conventional loans but still remain competitive.
  • With a 3,5% downpayment, you can get the FHA loan if your credit score is at 580 or higher. You need to put down 10% when your credit score is low and between 500-579.
  • Having bankruptcies or foreclosures might not be an issue and you can still be eligible for the FHA mortgage loan.

FHA Loan Limits Table for 2024 in Every State

# State 2024 FHA Loan Limits
1 Alaska FHA Loan Limits in Alaska
1 Alabama FHA Loan Limits in Alabama
2 Arizona FHA Loan Limits in Arizona
3 Arkansas FHA Loan Limits in Arkansas
4 Colorado FHA Loan Limits in Colorado
5 Connecticut FHA Loan Limits in Connecticut
6 California FHA Loan Limits in California
7 Delaware FHA Loan Limits in Delaware
8 Florida FHA Loan Limits in Florida
9 Indiana FHA Loan Limits in Indiana
10 Illinois FHA Loan Limits in Illinois
11 Idaho FHA Loan Limits in Idaho
12 Iowa FHA Loan Limits in Iowa
13 Kentucky FHA Loan Limits in Kentucky
14 Kansas FHA Loan Limits in Kansas
15 Louisiana FHA Loan Limits in Louisiana
16 Mississippi FHA Loan Limits in Mississippi
17 Maryland FHA Loan Limits in Maryland
18 Minnesota FHA Loan Limits in Minnesota
19 Montana FHA Loan Limits in Montana
20 Missouri FHA Loan Limits in Missouri
21 Maine FHA Loan Limits in Maine
22 Nebraska FHA Loan Limits in Nebraska
23 Nevada FHA Loan Limits in Nevada
24 North Carolina FHA Loan Limits in North Carolina
25 North Dakota FHA Loan Limits in North Dakota
26 New Jersey FHA Loan Limits in New Jersey
27 New Hampshire FHA Loan Limits in New Hampshire
28 New Mexico FHA Loan Limits in New Mexico
29 Oklahoma FHA Loan Limits in Oklahoma
30 Oregon FHA Loan Limits in Oregon
31 Rhode Island FHA Loan Limits in Rhode Island
32 Texas FHA Loan Limits in Texas
33 Tenessee FHA Loan Limits in Tenessee
34 Michigan FHA Loan Limits in Michigan
35 Pennsylvania FHA Loan Limits in Pennsylvania
36 South Carolina FHA Loan Limits in South Carolina
37 South Dakota FHA Loan Limits in South Dakota
38 Utah FHA Loan Limits in Utah
39 Ohio FHA Loan Limits in Ohio
40 Georgia FHA Loan Limits in Georgia
41 Nebraska FHA Loan Limits in Nebraska
43 Washington FHA Loan Limits in Washington
44 West Virginia FHA Loan Limits in West Virginia
45 Virginia FHA Loan Limits in Virginia
46 Wisconsin FHA Loan Limits in Wisconsin
47 Wyoming FHA Loan Limits in Wyoming
48 Vermont FHA Loan Limits in Vermont

Special FHA Loan Limit Exception Areas in 2024

Alaska, Hawaii, the Virgin Islands, and Guam have their own special and higher 2024 FHA Loan limits.

“Mortgage limits for the special exception areas of AK, HI, GU and VI are adjusted by FHA to account for higher costs of construction”

HUD Mortgagee Letter 2021-28 (page 3)

On November 30th, (Tuesday) the Department of Housing and Urban Development (HUD) announced new loan limits for the calendar year 2024 a special exception to the Federal Housing Administration’s (FHA) loan limit. This means that FHA-insured mortgages will be available for up to $766,550 in 2024 in high-cost areas, an increase from the current limit of $679,650.

This is great news for homebuyers as it will help to make more affordable homes available in areas where prices are high. HUD Secretary Marcia Fudge said, “UD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all..”

The increase in the loan limit is especially beneficial to those looking for homes in high-cost areas such as California, New York, and Washington D.C. In these areas, the previous limit often meant that only more expensive homes were within reach of buyers. 2024 FHA loan limits are effective for all loans with FHA case numbers assigned on or after January 1, 2024.

FHA Loan Limits High Costs Areas 2024FHA 203k Rehab Loan Limits

When it comes to getting a mortgage for a fixer-upper or financing the renovation of an existing property, one of the most important considerations is the rehab loan limits set by lenders. These limits vary from state to state and can make all the difference in terms of how much you can afford when it comes to buying or renovating your home.

The 203k loan limit is the maximum amount that a borrower can receive from the Federal Housing Administration (FHA) for a loan used to purchase or refinance a home. The 203k loan type has its own limit will increase to $ 766,550 in 2024 from $ 655,500 in 2023.

2-Unit 3-Unit 4-Unit
Low-Cost Area $604,400 $730,525 $907,900
Mid-Range Area $538,651 to $1,394,775 $730,525 to $1,867,274 $907,900 to $2,095,200
High-Cost Area $1,394,775 $1,867,274 $2,095,200
AK, HI, Guam, & Virgin Islands $2,092,150 $2,528,775 $3,142,800

FHA Loan Limits For Reverse Mortgage (HECM)

In addition to FHA loans, the FHA is in charge of conforming home equity conversions, commonly known as reverse mortgages. Reverse mortgages are available nationally and have a static limit. The FHA increased the loan limits for reverse mortgages from $970,800 in 2023 to $1,149,825 in 2024.

What if My Dream Home Price is Over The Conventional or FHA Loan Limits?

If you are over your count limits for an FHA loan you need to put down more than 3,5%. The second option would be going with a conventional loan where you will need 5%-10% as a down payment. Here is an example of how if you found your dream house in a county where FHA limits are $498,257 and conventional limits $766,550 that means the maximum house price you can be able to purchase with 5% down payment to finance it with a conventional loan is $762,510 with $36,310 as a downpayment.

FHA Multifamily Maximum Loan Amounts in High-Cost Areas

If you’re looking to finance a multifamily property with an FHA loan in a high-cost area, it’s important to know that you’ll need a larger down payment and a higher credit score to qualify for the loan.

If you are looking to buy or refinance a home in one of the many FHA high-cost areas across the country, here are some tips to help you get started:

  • Do your research and work with an experienced lender who is familiar with FHA loans in your area. This will help ensure that you get all the benefits available to you and can make the process as smooth as possible.
  • Consider working with a real estate agent who can assist you in finding homes on the market that meet your needs and budget.
  • Take advantage of government or non-profit programs that provide assistance with down payments, closing costs, and other expenses associated with buying a home in a high-cost area.