Bulletin 2023-087 USDA 2024 Loan Limit Increases

Overview

Newrez LLC "Newrez" Approved Correspondent Clients: The conforming and High-Balance Loan Limits that were recently increased by the Federal Housing Agency (FHFA) will apply to all USDA Purchases and refinance transactions.

 

The loan limit increase will be effective for USDA mortgages closed on or after January 1, 2024.

  

2024 Conforming Loan Limits
Units	Base Loan Limits (excludes Alaska and Hawaii)	Base Loan Limits in Alaska & Hawaii
1	$766,550	$1,149,825

 

As a reminder, actual loan limits for certain high-cost areas, as determined by FHFA, may be lower than the maximum high-cost area limit. When originating High-Balance mortgages, you must check the loan limits for the specific county where the property is located. There are no high-cost areas in Alaska & Hawaii.