2024 California Loan Limits: What’s New?
The Federal Housing Finance Agency (FHFA) has published annual conforming loan limit values for 2024. The conforming limit for 2024 is $766,550
However, this figure doesn’t cap mortgages at this amount. The limit represents the maximum Fannie Mae and Freddie Mac can guarantee, offering benefits in loan approval and interest rates. Beyond this, numerous mortgage options exist for larger amounts or those not backed by the GSEs, though conforming loans dominate new mortgages. Additionally, higher-cost regions can access increased limits tied to their average home prices, surpassing the base amount.
For a full list of county limits, please click here.