Understanding the 2024 Colorado Conforming Loan Limits from FHFA

The Federal Housing Finance Agency (FHFA) plays a pivotal role in the U.S. housing market, particularly in setting the 2024 Colorado conforming loan limits. These limits are crucial as they dictate the maximum loan amounts for standard mortgages backed by government-sponsored enterprises like Fannie Mae and Freddie Mac. Learn more about Conforming Loan Limits from FHFA.

 

 

What are the 2024 Colorado Conforming Loan Limits from FHFA?

For 2024, the FHFA has set the conforming loan limit at $766,550, a 5.5% increase from 2023. This adjustment reflects changes in the average U.S. home price, allowing borrowers in areas like Colorado to access higher loan amounts under favorable terms. Start your mortgage application today.

High Balance Loans: A Closer Look

In high-cost areas, the conforming loan limits are stretched to accommodate the higher property values. For 2024, the high balance limit is set at $1,089,300. However, these loans often come with higher interest rates due to the increased lending risk. Get a home value estimate.

 

Metro Denver's Unique Position

Metro Denver stands out with a conforming loan limit of $816,500 for 2024. Other high-cost counties in Colorado may experience even higher limits, reflecting the diverse real estate market within the state. Search homes for sale in Colorado.

 

Understanding Jumbo Loans

Loans exceeding the conforming limits are categorized as Jumbo Loans. These are significant for luxury properties or high-cost areas, requiring stringent borrowing criteria due to the absence of government backing. Use our payment calculator to explore options.

 

Act Now: Closing 2024 Loans in 2023

Interestingly, borrowers can close on these 2024 loan limits right now in 2023, offering a unique opportunity for those looking to invest in Colorado's dynamic real estate market. Contact us for personalized assistance.

 

2024 Colorado Conforming Loan Limits Table

 

County Name One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit
ADAMS COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
ALAMOSA COUNTY $766,550 $981,500 $1,186,350 $1,474,400
ARAPAHOE COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
ARCHULETA COUNTY $766,550 $981,500 $1,186,350 $1,474,400
BACA COUNTY $766,550 $981,500 $1,186,350 $1,474,400
BENT COUNTY $766,550 $981,500 $1,186,350 $1,474,400
BOULDER COUNTY $856,750 $1,096,800 $1,325,800 $1,647,650
BROOMFIELD COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
CHAFFEE COUNTY $766,550 $981,500 $1,186,350 $1,474,400
CHEYENNE COUNTY $766,550 $981,500 $1,186,350 $1,474,400
CLEAR CREEK COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
CONEJOS COUNTY $766,550 $981,500 $1,186,350 $1,474,400
COSTILLA COUNTY $766,550 $981,500 $1,186,350 $1,474,400
CROWLEY COUNTY $766,550 $981,500 $1,186,350 $1,474,400
CUSTER COUNTY $766,550 $981,500 $1,186,350 $1,474,400
DELTA COUNTY $766,550 $981,500 $1,186,350 $1,474,400
DENVER COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
DOLORES COUNTY $766,550 $981,500 $1,186,350 $1,474,400
DOUGLAS COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
EAGLE COUNTY $1,149,825 $1,472,250 $1,779,525 $2,211,600
ELBERT COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
EL PASO COUNTY $766,550 $981,500 $1,186,350 $1,474,400
FREMONT COUNTY $766,550 $981,500 $1,186,350 $1,474,400
GARFIELD COUNTY $1,149,825 $1,472,250 $1,779,525 $2,211,600
GILPIN COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
GRAND COUNTY $766,550 $981,500 $1,186,350 $1,474,400
GUNNISON COUNTY $766,550 $981,500 $1,186,350 $1,474,400
HINSDALE COUNTY $766,550 $981,500 $1,186,350 $1,474,400
HUERFANO COUNTY $766,550 $981,500 $1,186,350 $1,474,400
JACKSON COUNTY $766,550 $981,500 $1,186,350 $1,474,400
JEFFERSON COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
KIOWA COUNTY $766,550 $981,500 $1,186,350 $1,474,400
KIT CARSON COUNTY $766,550 $981,500 $1,186,350 $1,474,400
LAKE COUNTY $766,550 $981,500 $1,186,350 $1,474,400
LA PLATA COUNTY $766,550 $981,500 $1,186,350 $1,474,400
LARIMER COUNTY $766,550 $981,500 $1,186,350 $1,474,400
LAS ANIMAS COUNTY $766,550 $981,500 $1,186,350 $1,474,400
LINCOLN COUNTY $766,550 $981,500 $1,186,350 $1,474,400
LOGAN COUNTY $766,550 $981,500 $1,186,350 $1,474,400
MESA COUNTY $766,550 $981,500 $1,186,350 $1,474,400
MINERAL COUNTY $766,550 $981,500 $1,186,350 $1,474,400
MOFFAT COUNTY $766,550 $981,500 $1,186,350 $1,474,400
MONTEZUMA COUNTY $766,550 $981,500 $1,186,350 $1,474,400
MONTROSE COUNTY $766,550 $981,500 $1,186,350 $1,474,400
MORGAN COUNTY $766,550 $981,500 $1,186,350 $1,474,400
OTERO COUNTY $766,550 $981,500 $1,186,350 $1,474,400
OURAY COUNTY $766,550 $981,500 $1,186,350 $1,474,400
PARK COUNTY $816,500 $1,045,250 $1,263,500 $1,570,200
PHILLIPS COUNTY $766,550 $981,500 $1,186,350 $1,474,400
PITKIN COUNTY $1,149,825 $1,472,250 $1,779,525 $2,211,600
PROWERS COUNTY $766,550 $981,500 $1,186,350 $1,474,400
PUEBLO COUNTY $766,550 $981,500 $1,186,350 $1,474,400
RIO BLANCO COUNTY $766,550 $981,500 $1,186,350 $1,474,400
RIO GRANDE COUNTY $766,550 $981,500 $1,186,350 $1,474,400
ROUTT COUNTY $1,012,000 $1,295,550 $1,566,050 $1,946,200
SAGUACHE COUNTY $766,550 $981,500 $1,186,350 $1,474,400
SAN JUAN COUNTY $766,550 $981,500 $1,186,350 $1,474,400
SAN MIGUEL COUNTY $994,750 $1,273,450 $1,539,350 $1,913,000
SEDGWICK COUNTY $766,550 $981,500 $1,186,350 $1,474,400
SUMMIT COUNTY $1,006,250 $1,288,200 $1,557,150 $1,935,150
TELLER COUNTY $766,550 $981,500 $1,186,350 $1,474,400
WASHINGTON COUNTY $766,550 $981,500 $1,186,350 $1,474,400
WELD COUNTY $766,550 $981,500 $1,186,350 $1,474,400
YUMA COUNTY $766,550 $981,500 $1,186,350 $1,474,400

 

How is high cost determined for 2024 Colorado Conforming Loan Limits

The Housing and Economic Recovery Act of 2008 (HERA) requires annual adjustments to the Federal Housing Finance Agency's (FHFA) conforming loan limit (CLL) to reflect changes in the national average home price. Using the House Price Index (HPI), the FHFA's 2024 CLL increase is calculated at 5.56%. HERA also establishes high-cost area limits, set at a percentage above the baseline. For 2024, the maximum high-cost area limit is $1,149,825, 150% of the baseline $766,550.

 

Conclusion

Understanding the 2024 Colorado FHFA Conforming Loan Limits is vital for anyone looking to navigate the real estate market, whether it's opting for a standard, high balance, or jumbo loan.



2024 Colorado FHFA Conforming Loan Limits