PHH will begin accepting new locks with case numbers assigned on or after January 1, 2024, that meet the FHFA (Federal Housing Finance Agency) 2024 loan limits for FHA and VA loans.
The following tables contain the loan limits for 2024:
| FHA Forward Maximum Loan Amounts (Net of any Guaranty Fee) |
||||
|---|---|---|---|---|
| FHA | ||||
| Properties Not in Alaska and Hawaii | Properties in Alaska and Hawaii | |||
| Low Cost | ||||
| Units | 2024 | 2023 | 2024 | 2023 |
| 1 | $498,257 | $472,030 | $1,633,950 | $1,633,950 |
| 2 | $637,950 | $604,400 | $2,092,150 | $2,092,150 |
| 3 | $771,125 | $730,525 | $2,528,775 | $2,528,775 |
| 4 | $958,350 | $907,900 | $3,142,800 | $3,142,800 |
| High Cost | ||||
| 2024 | 2023 | 2024 | 2023 | |
| 1 | $1,149,825 | $1,089,300 | Same as Low Cost | Same as Low Cost |
| 2 | $1,472,250 | $1,394,775 | ||
| 3 | $1,779,525 | $1,685,850 | ||
| 4 | $2,211,600 | $2,095,200 | ||
Low-Cost Area
The FHA national low-cost area mortgage limits, which are set at 65 percent of the national conforming limit of $766,550 for a one-unit Property, are, by property unit number, as follows:
High-Cost Area
The FHA national high-cost area mortgage limits, which are set at 150 percent of the national conforming limit of $766,550 for a one-unit Property, are, by property unit number, as follows:
Special Exceptions
Mortgage limits for the special exception areas of Alaska (AK), Hawaii (HI), Guam (GU) and the Virgin Islands (VI) are adjusted by FHA to account for higher costs of construction.
| FHA HECM Maximum Claim Amounts Limit | |
|---|---|
| Applicable to all HECM loans, including those located in High-Cost areas, Alaska and Hawaii | |
| 2024 | 2023 |
| $1,149,825 | $1,089,300 |
| GNMA High Balance Threshold (Net of any Guaranty Fee) |
||||
|---|---|---|---|---|
| Properties Not in Alaska and Hawaii | Properties in Alaska and Hawaii | |||
| Units | 2024 | 2023 | 2024 | 2023 |
| 1 | $766,550 | $726,200 | $1,149,825 | $1,089,300 |
| 2 | $981,550 | $929,850 | $1,472,250 | $1,394,775 |
| 3 | $1,186,350 | $1,123,900 | $1,779,525 | $1,685,850 |
| 4 | $1,474,400 | $1,396,800 | $2,211,600 | $2,095,200 |
If you have any questions, please contact your Correspondent Specialist, Sales Executive, or contact us via the support line at 1-800-929-4744.
Thank you for your continued business.
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