PurchaseRefinanceLender Limits Maximum Mortgage Amounts in 2014

[avatar user=”toddross” size=”100″ align=”left” link=”https://www.therossgroup.com/about-us” target=”_blank”] by Todd Ross, Loan Officer

Mortgage loan limits in many California counties are being altered, pushed lower in some cases, effective January 1, 2014. Both FHA and conforming loans will be impacted by this change. 

This will affect buyers who are relying on the ability to borrower higher loan amounts, and it will affect sellers who’s potential buyers might need this higher financing.

If you have questions about these changes, please comment below, or contact us directly.

These are some of the counties that will be changing:

County FHA loan limit BEFORE 1/1/14 FHA loan limits AFTER 1/14 Conforming loan limits BEFORE 1/1/14 Conforming loan limits AFTER 1/14
Los Angeles 729,750 729,750 625,000 625,500
Ventura 729,750 729,750 625,000 598,000
Alameda 729,750 729,750 625,000 625,500
Riverside 500,000 500,000 417,000 417,000
Santa Barbara 729,750 729,750 625,000 625,500
Contra Costa 729,750 729,750 625,000 625,500
Monterey 729,750 729,750 483,000 483,000
El Dorado 580,000 580,000 474,950 474,950
Marin 729,750 729,750 625,500 625,500
San Diego 697,000 607,500 546,250 546,250
Santa Clara 729,750 729,750 625,000 625,500
San Francisco 729,750 729,750 625,000 625,500

* The above table is for 1 unit properties, multiple unit properties have different loan limits. Numbers are from hud.gov/lender. Comment below or contact us to find out more.