Treasury Funds Home Loans, Inc. Announces 2024 California Conforming Loan Limits

Laguna Niguel, CA, December 05, 2023 --(PR.com)-- Treasury Funds Home Loans, Inc. is thrilled to unveil the eagerly awaited 2024 Conforming Loan Limits (CLL) for California, following the Federal Housing Finance Agency's (FHFA) announcement on November 28, 2023. These limits delineate the maximum mortgage amounts that Fannie Mae and Freddie Mac will consider for acquisition in the upcoming year.

Across most of the United States, the CLL value for one-unit properties in 2024 will be $766,550, marking a noteworthy increase of $40,350 from the previous year.
The Housing and Economic Recovery Act mandates the FHFA to annually adjust the baseline CLL value based on changes in the average U.S. home price. The FHFA's third quarter 2023 House Price Index report indicates a 5.56 percent average increase in house prices over the last four quarters, consequently influencing the baseline CLL for 2024.

For high-cost areas, where the local median home value surpasses 115% of the baseline limit, the conforming loan limit rises to as high as $1,149,825.

In California, 17 out of its 58 counties are designated as high-cost areas, allowing conforming mortgage loans to reach as high as $1,149,825 in these regions.

To see where your county falls, take a look at the updated CLLs at https://treasuryfundshomeloans.com/2024-conforming-loan-limits
Any loans exceeding conforming limits are categorized as jumbo loans. For a comprehensive range of mortgage solutions, including conforming, jumbo, conventional, government, or home equity line loans, look no further than TreasuryFundsHomeLoans.com.