California FHA Loan Limits Raised at Last
Buyers breathe a sigh of relief as California FHA loan limits are increased significantly.
HUD released California’s new FHA mortgage limits yesterday, and is expected to release the rest of the new limits by state by the end of the week.
This is GREAT news for buyers who have been having troubles getting loans with the new stricter, and sometimes indecipherable, rules that are in place for conventional loans.
For the Los Angeles area, the new FHA limit for one-family homes is $729,750. There are higher limits for those purchasing duplexes (two-family), three-family and four-family properties. The new California FHA limits for one-family homes are shown in the table below.
| County | New FHA Limit |
| Alameda County | $729,750 |
| Alpine County | $547,500 |
| Amador County | $443,750 |
| Butte County | $400,000 |
| Calaveras County | $462,500 |
| Colusa County | $397,500 |
| Contra Costa County | $729,750 |
| Del Norte County | $311,250 |
| El Dorado County | $580,000 |
| Fresno County | $381,250 |
| Glenn County | $287,500 |
| Humboldt County | $393,750 |
| Imperial County | $325,000 |
| Inyo County | $437,500 |
| Kern County | $368,750 |
| Kings County | $325,000 |
| Lake County | $401,250 |
| Lassen County | $271,050 |
| Los Angeles County | $729,750 |
| Madera County | $425,000 |
| Marin County | $729,750 |
| Mariposa County | $412,500 |
| Mendocino County | $512,500 |
| Merced County | $472,500 |
| Modoc County | $271,050 |
| Mono County | $462,500 |
| Monterey County | $729,750 |
| Napa County | $729,750 |
| Nevada County | $562,500 |
| Orange County | $729,750 |
| Placer County | $580,000 |
| Plumas County | $410,000 |
| Riverside County | $500,000 |
| Sacramento County | $580,000 |
| San Benito County | $729,750 |
| San Bernardino County | $500,000 |
| San Diego County | $697,500 |
| San Francisco County | $729,750 |
| San Joaquin County | $488,750 |
| San Luis Obispo County | $687,500 |
| San Mateo County | $729,750 |
| Santa Barbara County | $729,750 |
| Santa Clara County | $729,750 |
| Santa Cruz County | $729,750 |
| Shasta County | $423,750 |
| Sierra County | $285,000 |
| Siskiyou County | $293,750 |
| Solano County | $557,500 |
| Sonoma County | $662,500 |
| Stanislaus County | $423,750 |
| Sutter County | $425,000 |
| Tehama County | $312,500 |
| Trinity County | $271,050 |
| Tulare County | $325,000 |
| Tuolumne County | $437,500 |
| Ventura County | $729,750 |
| Yolo County | $580,000 |
| Yuba County | $425,000 |
The new limits are based on the median home price for the county, with a maximum limit of $729,750. The prior FHA loan limit was $362,790, so for many counties this is a significant adjustment.
FHA loans allow for lower down payments and eliminate the dreaded "declining market" checkbox from the appraisal form, so more homebuyers should be able to successfully close their loans than in recent months.
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