On November 28, 2023, FHA published Mortgagee Letter 2023-21, 2024 Nationwide Forward Mortgage Limits, and Mortgagee Letter 2023-22, 2024 Nationwide Home Equity Conversion Mortgage (HECM) Limits for case numbers assigned on or after January 1, 2024.
These Mortgagee Letters provide the mortgage limits for Title II FHA-insured forward mortgages and the maximum claim amount for FHA-insured HECMs for Calendar Year (CY) 2024.
FHA's nationwide forward mortgage limit "floor" and "ceiling" for a one-unit property in CY 2024 are $498,257 and $1,149,825, respectively.
Select the links below for additional mortgage limits guidance for forward mortgages:
Refer to Mortgagee Letter 2022-21 for more details.
For CY 2024, the HECM nationwide maximum claim amount will be $1,149,825 for all areas, and effective for all case numbers assigned on or after January 1, 2024, through December 31, 2024. Refer to Mortgagee Letter 2023-22 for more details.