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New Mortgage Loan Limits Benefit Homebuyers

  • Encompass CRM
  • Nov 22, 2024
  • 1 min read

Updated: Dec 4, 2024

Expand your home search today.

The need to know: The maximum conforming loan limit in most parts of the U.S. is now $806,500. In certain high-cost markets,* the ceiling loan limit is $1,209,750. Check out this map to see loan limits in each county in the U.S. The good to know: The conforming loan limit is the max amount you can borrow on a mortgage backed by Fannie Mae or Freddie Mac. The Federal Housing Finance Agency (FHFA) sets these limits, and they’ve raised them again for 2025 in response to higher housing costs. The takeaway: These higher loan limits give you greater purchasing power while still letting you take advantage of the benefits offered by conventional loans. This is great news if buying a home is one of your goals for 2025.

2025 Loan Limits
Old Baseline limit: $766,550. New Baseline Limit: $806,500. Old Ceiling Limit: $1,149,825. New Ceiling limit: $1,209,750

 
*High-cost areas are those in which 115% of the local median home value exceeds the baseline conforming loan limit.
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