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Palo Alto County, IA

2024 Loan Limits

This page contains the Conforming, FHA, VA, and HECM Loan Limits for each housing type in Palo Alto County.

Return to the state page to see county affordability charts for Iowa. Click a county on the map to visit a different county.

Loan Limit Tables Palo Alto County, IA

Loan Limits are the maximum amount of money allowed to be lent for a particular kind of loan. Different types of loans have different limits. Below are the 2024 loan limits for Palo Alto County, IA.

Conforming Loan Limits

Conforming loans must meet the guidelines set by Fannie Mae and Freddie Mac. If a mortgage exceeds the conforming loan limits then it is considered a jumbo loan.

$766,550
home size icon 1 Single-Family
$981,500
home size icon 2 Duplex
$1,186,350
home size icon 3 Triplex
$1,474,400
home size icon 4 Quadplex

FHA Loan Limits

FHA Loans are home mortgages insured by the Federal Housing Administration. FHA Loans let you get a home loan with a lower down-payment and relaxed credit score requirements.

$498,257
home size icon 1 Single-Family
$637,950
home size icon 2 Duplex
$771,125
home size icon 3 Triplex
$958,350
home size icon 4 Quadplex

VA Loan Limits

If you qualify, veterans loans allow you to buy a house with zero money down.

$766,550
All Home Sizes

HECM Loan Limits

Home Equity Conversion Mortgages (HECM) allow seniors to convert home equity into cash for unexpected expenses.

$1,149,825
All Home Sizes

Loan Limit Breakdown

Median Home Price

The Federal Housing Finance Agency (FHFA) conducts an annual survey to determine the median home prices in each county or metro area in the US. Median home price is then used to determine the loan limits in Palo Alto County.

The last survey of home prices in Palo Alto County was conducted in 2023 and found the median home price was $98,000.

Loan Limits Summary

Based on the median home price, Palo Alto County was determined to be a "low-cost" area. Accordingly, 2024 loan limits in Palo Alto County are set equal to the national baseline limit.

The 2024 conforming loan limit for a single-family home in Palo Alto County, IA is $766,550. The FHA loan limit for a single-family home is $498,257.

This is an 5.3% increase over the 2023 loan limits which were set at $726,200 for a single-family conventional.

The tables above provide a complete breakdown of 2024 loan limits in Palo Alto County, IA for FHA Loans, Conforming Loans, VA Loans, and HECM Reverse Mortgages.

What's Next?

If you are interested in purchasing a home with a conventional or FHA loan, the next step is to talk to a real estate agent and find a lender.

Not all lenders are the same. Some will not do FHA loans while others specialize in it. Rates may vary between lenders so it is important to shop around.

Loan Limits on this page apply to the following cities in Palo Alto County, Iowa: Emmetsburg, West Bend, Ruthven, Graettinger, Ayrshire, Curlew, Cylinder, and Mallard.

These loan limits also apply to the following ZIP codes in Palo Alto County, Iowa: 50536, 50597, 51358, 51342, 50515, 50527, 50528, and 50562.

More on Palo Alto County, IA

Want to learn more about Palo Alto County, IA? See Fair Market Rents in Palo Alto County, IA to view 40th percentile FMRs and SAFMRs by ZIP code or click here to find a Public Housing Authority near Palo Alto County, IA who can help with finding affordable housing near you.

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Data Source

HUD Seal

FHA Loan limits are published by the HUD. Conforming loan limits are published by Federal Housing Finance Agency (FHFA).

Last updated on January 2, 2024


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