Denver Conforming Loan Limits Increased to $816,500 in 2024

December 10, 2019
Last updated:
November 30, 2023
In This Article

Conforming loan limits in Denver have increased for 2024 as a result of strong home prices, even though prices dipped in Denver over the past year. In this article, we’ll discuss what these numbers are and how that will affect the homebuying process.

For all cities within Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park counties, the conforming loan limit will increase to $816,500 in 2024 for single-family properties. In several other counties in CO, the loan limits are even higher.

There are higher limits for multi-family properties, as noted in the chart below.

County Name1 Unit2 Units3 Units4 Units
CLEAR CREEK$816,500$1,045,250$1,263,500$1,570,200

Denver Conforming Loan Limits Will Rise For 2024

Two government-sponsored enterprises (GSEs) purchase loans from mortgage lenders: Fannie Mae and Freddie Mac.

Conforming loans are those that meet the size requirements used by Freddie Mac and Fannie Mae. If these size requirements are exceeded, the loans are considered to be “jumbo loans.”

Borrowers who need to take out a jumbo loan will likely have to meet stricter loan requirements because of the higher loan amount borrowed.

In 2024, conforming loan limits – which is the threshold between conforming and jumbo loans – in Denver increased thanks to an increase in home values. For the Denver metro area, the conforming loan limit for a single-family property in 2024 a rose to $816,500.

These caps are generally consistent across all metro areas. In the case of the Denver metro area, Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park counties all have the same conforming loan limits.

Beyond the Denver metro area, the 2024 loan limit for the majority of other counties across the state rose to $766,550 for 2024.

Please note: Qualified borrowers with sufficient income are typically eligible to borrow more than the conforming loan limit for their county. This would be considered a “jumbo” mortgage scenario.

Check out our mortgage loan limit tool for conventional, FHA, and VA loans, as well as the 2024 conforming loan limits for Colorado.

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Higher Home Prices = Higher Mortgage Amounts

The increase in Denver’s 2024 conforming loan limits is interesting because home prices in Denver actually dipped in 2023. However, home price gains were very strong in the preceding years, which could be a factor in this year’s conforming loan increase.

Federal housing officials review these loan limits every year relative to property values. If the increases in home prices are substantial within a calendar year, federal housing officials will respond appropriately by increasing loan limits.

Having said that, Denver isn’t the only center that will see an increase in conforming loan limits in 2024. In fact, the majority of counties across the US will be boosted next year as a result of rising home values.

According to a recent press release from the Federal Housing Finance Agency (FHFA):

“The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac (the Enterprises) will acquire in 2024. In most of the United States, the 2024 CLL value for one-unit properties will be $766,550, an increase of $40,350 from 2023.”

The median home value in Denver is $558,402 by year-end in 2023, according to Zillow. In turn, loan limits in Denver increased for 2024.

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Will you need mortgage financing to buy a home in Denver? We can help. At Sammamish Mortgage, we offer a wide variety of mortgage programs and tools with flexible qualification criteria, including our Diamond Homebuyer ProgramCash Buyer Program, and Bridge Loans. We have been serving the entire state since 1992, as well as the broader Pacific Northwest region that includes Washington, Oregon, Colorado, and Idaho. Please contact us today with any financing-related questions you have.

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