The Federal Housing Administration (FHA) sets lending limits for FHA loans, which vary by state and county. These limits, updated annually, determine the maximum loan amount borrowers can qualify for under the FHA loan program. Here's a quick overview of the FHA loan limits for 2024:
FHA Limits (Low-Cost Areas):
Single: $498,257
Duplex: $637,950
Tri-plex: $771,125
Four-plex: $958,350
These limits apply to most U.S. counties and represent the maximum loan amounts for different types of properties in low-cost areas.
FHA Limits (High-Cost Areas):
Single: $1,149,825
Duplex: $1,472,250
Tri-plex: $1,779,525
Four-plex: $2,211,600
In high-cost areas, borrowers can access higher loan amounts, reflecting the increased cost of housing in these regions.
These FHA loan limits ensure borrowers can access affordable financing options across different housing markets.
Understanding these limits can help you determine your eligibility and borrowing capacity when considering an FHA!
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