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.
