New FHA and Conventional Mortgage Limits for 2024

New FHA and Conventional Mortgage Limits for 2024

FHA Loan Limits

MCL will accept the new loan limits on government products effective January 1, 2024. See each section below for specific requirements by product type.

Miami Dade, Broward and Palm Beach New FHA Loan Limits

  • One-unit: $621,000
  • Two-unit: $795,000
  • Three-unit: $960,950
  • Four-unit: $1,194,250

You can view the additional county limits on the list below:

County NameStateOne-FamilyTwo-FamilyThree-FamilyFour-FamilyLast Revised
       
BAKERFL$564,650$722,850$873,750$1,085,9001/1/2024
BAYFL$498,257$637,950$771,125$958,3501/1/2024
BRADFORDFL$498,257$637,950$771,125$958,3501/1/2024
BREVARDFL$498,257$637,950$771,125$958,3501/1/2024
BROWARDFL$621,000$795,000$960,950$1,194,2501/1/2024
CALHOUNFL$498,257$637,950$771,125$958,3501/1/2024
CHARLOTTEFL$498,257$637,950$771,125$958,3501/1/2024
CITRUSFL$498,257$637,950$771,125$958,3501/1/2024
CLAYFL$564,650$722,850$873,750$1,085,9001/1/2024
COLLIERFL$730,250$934,850$1,130,000$1,404,3501/1/2024
COLUMBIAFL$498,257$637,950$771,125$958,3501/1/2024
DESOTOFL$498,257$637,950$771,125$958,3501/1/2024
DIXIEFL$498,257$637,950$771,125$958,3501/1/2024
DUVALFL$564,650$722,850$873,750$1,085,9001/1/2024
ESCAMBIAFL$498,257$637,950$771,125$958,3501/1/2024
FLAGLERFL$498,257$637,950$771,125$958,3501/1/2024
FRANKLINFL$498,257$637,950$771,125$958,3501/1/2024
GADSDENFL$498,257$637,950$771,125$958,3501/1/2024
GILCHRISTFL$498,257$637,950$771,125$958,3501/1/2024
GLADESFL$498,257$637,950$771,125$958,3501/1/2024
GULFFL$498,257$637,950$771,125$958,3501/1/2024
HAMILTONFL$498,257$637,950$771,125$958,3501/1/2024
HARDEEFL$498,257$637,950$771,125$958,3501/1/2024
HENDRYFL$498,257$637,950$771,125$958,3501/1/2024
HERNANDOFL$498,257$637,950$771,125$958,3501/1/2024
HIGHLANDSFL$498,257$637,950$771,125$958,3501/1/2024
HILLSBOROUGHFL$498,257$637,950$771,125$958,3501/1/2024
HOLMESFL$498,257$637,950$771,125$958,3501/1/2024
INDIAN RIVERFL$498,257$637,950$771,125$958,3501/1/2024
JACKSONFL$498,257$637,950$771,125$958,3501/1/2024
JEFFERSONFL$498,257$637,950$771,125$958,3501/1/2024
LAFAYETTEFL$498,257$637,950$771,125$958,3501/1/2024
LAKEFL$498,257$637,950$771,125$958,3501/1/2024
LEEFL$498,257$637,950$771,125$958,3501/1/2024
LEONFL$498,257$637,950$771,125$958,3501/1/2024
LEVYFL$498,257$637,950$771,125$958,3501/1/2024
LIBERTYFL$498,257$637,950$771,125$958,3501/1/2024
MADISONFL$498,257$637,950$771,125$958,3501/1/2024
MANATEEFL$547,400$700,750$847,050$1,052,7001/1/2024
MARIONFL$498,257$637,950$771,125$958,3501/1/2024
MARTINFL$546,250$699,300$845,300$1,050,5001/1/2024
MIAMI-DADEFL$621,000$795,000$960,950$1,194,2501/1/2024
MONROEFL$929,200$1,189,550$1,437,900$1,786,9501/1/2024
NASSAUFL$564,650$722,850$873,750$1,085,9001/1/2024
OKALOOSAFL$603,750$772,900$934,250$1,161,0501/1/2023
OKEECHOBEEFL$498,257$637,950$771,125$958,3501/1/2024
ORANGEFL$498,257$637,950$771,125$958,3501/1/2024
OSCEOLAFL$498,257$637,950$771,125$958,3501/1/2024
PALM BEACHFL$621,000$795,000$960,950$1,194,2501/1/2024

Click here to determine maximum loan limits available by county in any State.

Be sure to select the appropriate limit year (i.e., 2023).  For the “Limit Type” on FHA select FHA Forward. For the “Limit Type” on VA (for Veterans with partial entitlement) select Fannie/Freddie, but, for VA, the 1 unit column applies as the maximum loan limit regardless of property type/units.

4

Conventional Loan Limits

MCL is pleased to advise that effective immediately, both High Balance and Standard Balance 2024 loan limits are eligible to our clients.

MCL will accept the new loan limits on government products effective January 1, 2024. See each section below for specific requirements by product type.

Miami Dade, Broward and Palm Beach New Conventional Loan Limits

  • One-unit: $766,550
  • Two-unit: $981,500
  • Three-unit: $1,186,350
  • Four-unit: $1,474,400

At this time HUD has not issued an announcement if they will allow existing cases to be cancelled and appraisals to be reused due to the new loan limits.  As such, unless guidance is provided by HUD, it is not allowed. Minimum loan amounts for high balance products will be determined by case assignment date as well. 

These limits vary by county and a full list for the state of Florida is bellow:

County NameStateOne-FamilyTwo-FamilyThree-FamilyFour-FamilyLast Revised
       
BAKERFL$766,550$981,500$1,186,350$1,474,4001/1/2024
BAYFL$766,550$981,500$1,186,350$1,474,4001/1/2024
BRADFORDFL$766,550$981,500$1,186,350$1,474,4001/1/2024
BREVARDFL$766,550$981,500$1,186,350$1,474,4001/1/2024
BROWARDFL$766,550$981,500$1,186,350$1,474,4001/1/2024
CALHOUNFL$766,550$981,500$1,186,350$1,474,4001/1/2024
CHARLOTTEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
CITRUSFL$766,550$981,500$1,186,350$1,474,4001/1/2024
CLAYFL$766,550$981,500$1,186,350$1,474,4001/1/2024
COLLIERFL$766,550$981,500$1,186,350$1,474,4001/1/2024
COLUMBIAFL$766,550$981,500$1,186,350$1,474,4001/1/2024
DESOTOFL$766,550$981,500$1,186,350$1,474,4001/1/2024
DIXIEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
DUVALFL$766,550$981,500$1,186,350$1,474,4001/1/2024
ESCAMBIAFL$766,550$981,500$1,186,350$1,474,4001/1/2024
FLAGLERFL$766,550$981,500$1,186,350$1,474,4001/1/2024
FRANKLINFL$766,550$981,500$1,186,350$1,474,4001/1/2024
GADSDENFL$766,550$981,500$1,186,350$1,474,4001/1/2024
GILCHRISTFL$766,550$981,500$1,186,350$1,474,4001/1/2024
GLADESFL$766,550$981,500$1,186,350$1,474,4001/1/2024
GULFFL$766,550$981,500$1,186,350$1,474,4001/1/2024
HAMILTONFL$766,550$981,500$1,186,350$1,474,4001/1/2024
HARDEEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
HENDRYFL$766,550$981,500$1,186,350$1,474,4001/1/2024
HERNANDOFL$766,550$981,500$1,186,350$1,474,4001/1/2024
HIGHLANDSFL$766,550$981,500$1,186,350$1,474,4001/1/2024
HILLSBOROUGHFL$766,550$981,500$1,186,350$1,474,4001/1/2024
HOLMESFL$766,550$981,500$1,186,350$1,474,4001/1/2024
INDIAN RIVERFL$766,550$981,500$1,186,350$1,474,4001/1/2024
JACKSONFL$766,550$981,500$1,186,350$1,474,4001/1/2024
JEFFERSONFL$766,550$981,500$1,186,350$1,474,4001/1/2024
LAFAYETTEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
LAKEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
LEEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
LEONFL$766,550$981,500$1,186,350$1,474,4001/1/2024
LEVYFL$766,550$981,500$1,186,350$1,474,4001/1/2024
LIBERTYFL$766,550$981,500$1,186,350$1,474,4001/1/2024
MADISONFL$766,550$981,500$1,186,350$1,474,4001/1/2024
MANATEEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
MARIONFL$766,550$981,500$1,186,350$1,474,4001/1/2024
MARTINFL$766,550$981,500$1,186,350$1,474,4001/1/2024
MIAMI-DADEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
MONROEFL$929,200$1,189,550$1,437,900$1,786,9501/1/2024
NASSAUFL$766,550$981,500$1,186,350$1,474,4001/1/2024
OKALOOSAFL$766,550$981,500$1,186,350$1,474,4001/1/2024
OKEECHOBEEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
ORANGEFL$766,550$981,500$1,186,350$1,474,4001/1/2024
OSCEOLAFL$766,550$981,500$1,186,350$1,474,4001/1/2024
PALM BEACHFL$766,550$981,500$1,186,350$1,474,4001/1/2024

Access FHFA’s website to determine maximum loan limits available by county in all states.