As of January 1, 2009, these limits have been revised and are no longer in effect. Different California counties have different loan limits (up to $625,500). For more information, click here.
Loan Types: Jumbo & Conforming
Mortgages are divided into two types, depending on the loan amount. Until recently, a mortgage of $417,000 or less was described as a Conforming Loan, and a mortgage greater than that was described as being a Jumbo or Non-Conforming Loan. Interest rates on Conforming Loans are typically lower than those on Jumbo Loans.
Conforming Loan Limit Now Up to $729,750
The federal government has temporarily raised the Conforming Loan limits in several hundred counties across the country where housing prices are expensive. The intention is to provide people an opportunity to purchase or refinance at rates that are lower than those for Jumbo Loans.
All nine counties in the Greater Bay Area were affected by this action:
| COUNTY | LIMIT |
|---|---|
| San Francisco | $729,750 |
| Santa Clara | $729,750 |
| San Mateo | $729,750 |
| Napa | $729,750 |
| Marin | $729,750 |
| Sonoma | $662,500 |
| Alameda | $729,750 |
| Solano | $557,500 |
| Contra Costa | $729,750 |
Loan Limits by County
The Federal Housing Authority loan lending limits for FHA lenders in CALIFORNIA vary based on a variety of housing types and the state and county in which the property is located. Click here to go to their site.