2024 Fha Loan Limits Increase Rate. Since these loans are backed by the federal housing administration (fha), they’re a great option even if your credit isn’t perfect. Most conventional loans require you to purchase private mortgage insurance (pmi) if your down payment is less than 20%.

They have $50,000 for a down. Rising home prices also prompted the federal housing administration (fha) to adjust its loan limits — with the “floor” fha loan limit.