Barnstable County, MA 2024 FHA Loan Limits

2024 Massachusetts High Cost Limits Last Updated: Tue, January 2, 2024

FHA Loan Limits

Change Loan Limit Type:

$747,500
Single Family

$956,950
Duplex

$1,156,700
Tri-plex

$1,437,500
Quad-plex

Federal Housing Administration (FHA) Loans are federally insured mortgages.
In Barnstable County, loan amounts may not exceed the limits above.

$766,550
All home sizes

VA Loan Limits are based on the single family unit in the Fannie Mae and Freddie Mac Loan Limit,
also known as the Conventional Loan Limit.

$766,550
Single Family

$981,500
Duplex

$1,186,350
Tri-plex

$1,474,400
Quad-plex

Conventional mortgages require a 20% down payment, high credit score, and other requirements.
These Loan limits are higher than FHA limits which will allow you to purchases a larger home if you qualify.

$1,149,825
All home sizes

Home Equity Conversion Mortgages allow seniors to relinquish equity in their home in exchange to regular payments to supplement retirement income. In Barnstable County, HECM loan amounts may not exceed the limit above.

Local Loan Limits — Barnstable County, MA

FHA and conventional Loan limits vary based on the number of living-units on the property. FHA loans are only allowed on 1 to 4 living-unit properties. These 1 to 4 unit properties can be purchased with an FHA loan as long as the owner occupies one of the unit. Properties with over 4 units are considered commercial and do not quality for FHA or conventional loans.

Loan Limit Summary

Limits for FHA Loans in Barnstable County, Massachusetts range from $747,500 for 1 living-unit homes to $1,437,500 for 4 living-units. Conventional Loan Limits in Barnstable County are $766,550 for 1 living-unit homes to $1,474,400 for 4 living-units. The 2024 Home Equity Conversion Mortgage (HECM) limits in Barnstable County is $1,149,825. HECM limit does not depend on the size of the home.

What are Conventional Loans?

Conventional loans (also called "conforming") are loans that conform to the requirements set by Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac buy home loans from lenders to provide liquidity. This allows lenders to continue lending to home buyers. Otherwise, banks might not have enough money on hand continue lending. Fannie and Freddie set strict standards for the types of loans they will buy.

Barnstable County has high cost limits to compensate for above average housing prices. Limits in Barnstable County are above the 2024 national floor.

FHA Home Appraisal in Barnstable County

To see if a home qualifies for an FHA loan, the property must be appraised by an approved FHA appraiser. Find FHA-approved appraisers in Barnstable County. If you need a home inspector, click here to find FHA-approved inspectors in Barnstable County. You can also save time by looking for FHA Condos that have already been approved.

VA Loan Limits in Barnstable County

VA Loans are similar to FHA Loans in that it allows you to buy a home with very little money down. However VA Loans are only available to veterans of the Armed Forces. With VA loans the Department of Veterans Affairs guarantees the loan on the veteran's behalf. The maximum the VA will guarantee is set to the same amount as the single-family Fannie/Freddie Loan Limit. So the Barnstable County, MA 2024 VA Loan Limit is $766,550

Learn more about VA Loans and how to qualify »

Additional Resources

How to qualify for an FHA Loan in Barnstable County, Massachusetts?

The minimum loan amount in Barnstable County is $5,000 dollars and may go up to $1,437,500 depending on home size and loan type. In order to qualify for an FHA loan, you must be planning to live in the home. Although a loan can include some renovation costs, FHA loans cannot be used for real estate investments in Barnstable County.

Additionally, your loan amount cannot exceed the value of home you are purchasing. Learn more about FHA Loan Requirements.