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Information for Single-Family Lending and Real Estate Professionals
Program Announcement
December 5, 2023
2024 Loan Limit Changes
Dear Lending Partners:
The Commission will adopt the 2024 new loan limits in accordance with the appropriate agency guidelines to our Home Advantage and House Key programs.
Effective with reservations made on and after 12/6/2023, the new conforming one-unit loan limit of $766,550 for Fannie Mae HFA Preferred and Freddie Mac HFA Advantage will be implemented on our Home Advantage and House Key first mortgage programs.
One-unit loan amounts greater than $766,550 and up to $977,500 in King, Pierce and Snohomish counties, the high balance add-on fee will apply on our Home Advantage Fannie Mae and Gov't first mortgage loans. See our rate sheet for applicable high-balance fee.
For FHA the new one-unit loan limits are effective with case numbers assigned on and after January 1, 2024. The new limits will be implemented to our FHA Home Advantage and House Key programs with reservations made on and after January 2, 2024.
New conforming loan limit of $981,500 for two-unit properties (duplexes) and up to $1,251,400 in King, Pierce and Snohomish Counties will be implemented on our Home Advantage conventional and Gov't first mortgage loans as stated above. Loan amounts greater than $981,500 and up to $1,251,400 in King, Pierce and Snohomish counties, a high balance add-on fee will apply. See our rate sheet for applicable high-balance fee.
Please note: Loan amounts greater than $766,550 (one-unit) or $981,500 (two-unit) including high-cost areas, are not permitted with Freddie Mac's HFA Advantage.
Questions: Email Corinna Obar.