FHA announced the new FHA loan limits for case numbers assigned on or after January 1, 2024. Nearly all U.S. counties will have an increase in loan limit in 2024. FHA is increasing the limit on 1-unit properties from $472,030 to $498,257. High-cost areas will also see an increase from $1,089,300 to $1,149,825. The FHA case number must be assigned on or after January 1, 2024 in order to use the new limit regardless of when the application is taken. You may view the limits by individual county on HUD’s Maximum Mortgage Limits web page.

FHA Earliest closing/funding date using the new 2024 limits.

• In order to use the 2024 limit, the case number must be ordered on or after January 1st, 2024, therefore the earliest closing date will be January of 2024.

FHA Case Numbers assigned in 2023 wishing to use the new 2024 limit.

• Case numbers assigned prior to January 1, 2024, must be cancelled. A new case number must be assigned on or after Jan. 1, 2024 in order to use the increased limits.