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Glenn Tobin headshot

Glenn Tobin

Branch Manager
Movement Mortgage
NMLS ID # 855809

Movement Makes Estimated 2024 Loan Limits Available NOW

By: Movement Team
October 11, 2023
Every year, the Federal Housing Finance Administration (FHFA) adjusts loan limits for conventional mortgages to align with current home prices. That means the maximum amount a buyer can qualify for a Fannie Mae or Freddie Mac mortgage will increase. Typically, a borrower would have to wait until January 1, 2024. Movement is giving our customers a competitive advantage in the market by making estimated 2024 limits available now before the FHFA announcement!

Early Release Loan Limit Basics

The maximum loan limit available depends on location and property type. You can find the a breakdown of 1-4 unit properties below:

Units Continental US Alaska and Hawaii
1 $750,000 $1,125,000
2 $960,300 $1,440,450
3 $1,160,750 $1,741,125
4 $1,442,600 $2,163,900

Buyers can finance a home if they are intending to purchase a:

  • Primary home
  • Second home
  • Investment property

Keep in mind, qualification criteria may differ depending on the occupancy type.

Movement is offering different loan options for this program. A buyer can choose to get a 30-year fixed mortgage which keeps principal and interest payments steady for the term of the loan. Or, for borrowers who are conscious of current rates, a 1/0 or 2/1 temporary buydown can lower the interest rates on loan payments for the first year or two respectively.

Early Release Loan Limit Details

Interested in taking advantage of Movement’s Early Release Loan Limit program? Find the qualification criteria below:

Primary – Purchase and LCO Refinance
Property Type Maximum Loan Amount Minimum FICO Maximum LTV/CLTV
1 Unit SFD, Warrantable Condo, PUD $750,000 700 95%/95%
2 Unit SFD $960,300 660 80%/80%
3 Unit SFD $1,160,750 680 75%/75%
4 Unit SFD $1,442,600 680 75%/75%
Primary Cash Out Refinance
1 Unit SFD, Warrantable Condo, PUD $750,000 680 80%/80%
2-4 Unit SFD See max loan amount table 700 75%/75%
Second Home - Purchase and LCO Refinance 
1 Unit SFD, Warrantable Condo, PUD $750,000 680 80%/80%
Second Home - Cash Out Refinance
1 Unit SFD, Warrantable Condo, PUD $750,000 680 75%/75%
Investment - Purchase and LCO Refinanace
1 Unit SFD, Warrantable Condo, PUD $750,000 700 80%/80%
2 unit only See max loan amount table 700 75%/75%
Investment - Cash Out Refinance
1 Unit SFD, Warrantable Condo, PUD $750,000 680 75%/75%
2-4 Unit SFD Ineligible

Ready to get started?

If you’re ready to access estimated 2024 loan limits early and gain an edge in this market, reach out to your Movement loan officer.

Movement Mortgage "MM" red logo
Author: Movement Team

About Movement Mortgage
Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture, and communities. Funding approximately $30 billion in residential mortgages annually, Movement is the sixth-largest retail mortgage lender in the U.S. Movement is best known for its innovative mortgage process and referable experience, which begins with Upfront Underwriting and a seven-day loan processing goal. The company employs more than 4,000 people, has more than 650 branches in the U.S. and is licensed in 50 states. After funding its balance sheet and investing in future growth, Movement's profits are paid to its primary shareholder, the nonprofit Movement Foundation. To date, Movement Foundation has received more than $360 million of Movement profit to invest in schools, affordable housing, communities, and global outreach. For more information, visit www.movement.com.

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Glenn Tobin headshot
Glenn Tobin
Branch Manager
Wondering how much home you can afford? Let’s talk about your next move!
105 Pleasant St, Stes 6 and 7, Hyannis, MA 02601
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NMLS # 855809

State License #CT- LO-855809, FL- LO60769, GA-855809, MA-MLO855809, NH