Announcement - GNMA Loan Limit

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

VA no longer sets Maximum Loan Limits; however, PHH does have set limits which are reflected on the Government Product Listing.

	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.