Every year the FHFA (Fannie Mae & Freddie Mac), FHA, and the VA revise their maximum county mortgage limits throughout California. You can search maximum loan limits by county for FHA, VA, and Conventional loans throughout all of California down below.
California’s 2017 Conventional Conforming County Loan Limit
What is a Conforming loan? A conforming home loan is one that meets, or “conforms” to, certain guidelines set forth by Government Sponsored Entities (GSE’s) Freddie Mac and Fannie Mae.
California high-cost county loan limits have a ceiling of 150% of the baseline mortgage limit. Loan amounts between $424,100 and $634,100 are referred to agency ‘High Balance’ or ‘Super Conforming’ loans because they exceed the baseline limit.
2017 FHA County Loan Limit in California
2017 VA County Loan Limit in California
The VA (Dept. of Veteran Affairs) Home Loan doesn’t cap or limit the loan amount but they do limit the amount of liability the VA can assume.
VA Jumbo Loans – VA loan amounts greater than the county mortgage limit are often referred to as VA Jumbo loans. When the loan amount exceeds the county limit, equity or a down payment equal to 25% of the difference between the maximum loan limit and the sales price or appraisal value is required.
Loan limits listed below are for 1 unit properties. Loan limits for 2-4 units are higher. Contact me for details on qualifying and loan limits for 2-4 unit property.
|County||2017 FHA Loan Limit||2017 Conventional Loan Limit||2017 VA Loan Limit|
|San Luis Obispo||586,500||586,500||586,500|