Conventional Loan Limits 2024. Most conventional loans conform to loan limits set by the federal housing finance agency and follow the credit score and down payment. The conforming loan limits for 2024 have increased and apply to loans delivered to fannie mae in 2024 (even if originated prior to 1/1/2024).
A conventional loan provides an upfront sum to purchase a home. Each year, the fhfa adjusts the conforming loan limits based on its third quarter house price index (hpi).