The Federal Housing Administration (FHA) recently announced the new FHA loan limits nationwide. We are honoring these new loan limits effective immediately and vary county by county.
Single family residences in San Diego County will have a new FHA loan limit of $879,750.
Below is a list of other popular California counties and their new FHA limits for single Family Detached homes:
Orange – $970,800
Riverside – $562,350
Los Angeles – $970,800
San Francisco – $970,800
Alameda – $970,800
Santa Clara – $970,800
San Bernardino – $562,350
Sacramento – $675,050
Lower Cost Counties In California:
Each year, the FHA loan limits are updated to keep with the US Housing market. For the upcoming year, the national baseline (or average) limit is set at $647,200. However, each county is different; the cost of living in some counties is much less than others, and even less than the national average. The loan limit is adjusted to match these fluctuations.
High Cost Counties In California:
Some counties have higher home values which require a significantly greater adjustment. If home prices are higher than the national baseline limit, the loan limit for these counties will also be higher. The price ceiling for high-cost counties in California is set at $970,800 for the upcoming year.
If you need help confirming the new loan limits for your county, please contact us at (760) 930-0569 and one of our loan officers will be happy to assist you.