Matt Moss

Mortgage Consultant

NMLS: 291336

FHA and Conforming Loan Limits Surge in 2024

We're thrilled to share some exciting news that could make your dream home closer than ever. The Federal Housing Finance Agency (FHFA) and The Federal Housing Administration (FHA) have recently announced the new conforming and FHA loan limits for 2024, bringing a wave of positive changes for aspiring homebuyers. At Mountain West Financial, we're here to guide you through these developments and showcase how they can open up a world of opportunities for you. Let's dive in!

Understanding the Numbers:

The conforming loan limits for 2024 have been increased to $766,550, marking a substantial rise of $40,350 from the previous year. On the FHA front, the floor for low-cost areas has been elevated to $498,257, while high-cost areas now enjoy a ceiling of $1,149,825. This represents a commendable increase of $26,000 and $60,000, respectively, providing more financial flexibility for homebuyers across the country. These increases take effect on January 1, 2024. 

The Benefits of Increased Loan Limits:

  • Expanded Home Options:
    With higher loan limits, homebuyers can now explore a broader range of properties that were previously beyond their financial reach. Whether you're eyeing a spacious family home, a trendy urban loft, or a charming countryside retreat, the increased limits empower you to consider more options.
  • Flexibility in High-Cost Markets:
    In regions with high real estate prices, increased loan limits provide buyers with the flexibility to enter these markets without stretching their budgets too thin. This flexibility is particularly beneficial for buyers in areas where home prices traditionally exceed the previous loan limits.
  • Competitive Interest Rates:
    The increased loan limits can potentially result in more competitive interest rates. Conventional and FHA loans generally have lower rates than other traditionally high-value loans like Jumbos. At Mountain West Financial, we keep a close eye on market trends to ensure that our clients receive the most favorable terms possible.

Why Choose Mountain West Financial:

At Mountain West Financial, we understand that securing a mortgage is a significant milestone, and we're here to make the journey as smooth and enjoyable as possible. Here are some compelling reasons to choose us as your lender:

  • Customer-Centric Approach:
    Our commitment to customer satisfaction is at the heart of everything we do. From the initial consultation to the day you receive your keys, our team is dedicated to providing a seamless and personalized experience.
  • Expert Guidance:
    As seasoned mortgage and real estate experts, we have the knowledge and experience to guide you through the intricacies of the home-buying process. We'll work closely with you to understand your goals and tailor a mortgage solution that fits your unique needs.
  • State-of-the-Art Tools:
    Take advantage of our cutting-edge tools and resources designed to simplify the mortgage journey. Our online calculators, interactive guides, and user-friendly interfaces empower you with the information you need to make informed decisions.
  • Transparent Communication:
    We believe in transparent communication at every stage. No hidden fees or surprises – just clear and open dialogue to ensure you are informed and confident throughout the entire process.
  • Proven Track Record:
    With a track record of satisfied clients and successful closings, Mountain West Financial has established itself as a trusted name in the industry. Join the ranks of happy homeowners who chose us to turn their dreams into reality.


The 2024 loan limit increases mean more possibilities for homebuyers, and at Mountain West Financial, we're excited to be a part of your journey. Whether you're a first-time buyer or a seasoned homeowner, the expanded loan limits, coupled with our excellent service and expertise, create a winning combination for your homeownership goals. Let's embark on this adventure together – your dream home awaits!


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.