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:

CountyFHA loan limit BEFORE 1/1/14FHA loan limits AFTER 1/14Conforming loan limits BEFORE 1/1/14Conforming loan limits AFTER 1/14
Los Angeles729,750729,750625,000625,500
Santa Barbara729,750729,750625,000625,500
Contra Costa729,750729,750625,000625,500
El Dorado580,000580,000474,950474,950
San Diego697,000607,500546,250546,250
Santa Clara729,750729,750625,000625,500
San Francisco729,750729,750625,000625,500

* 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.