The conforming loan limit is the maximum loan amount that can be considered a conventional mortgage by Fannie Mae and Freddie Mac. For 2024, the baseline conforming loan limit for most counties in California is $766,500 – up from $726,200 in 2023. However, in certain high-cost areas like Los Angeles and San Francisco, the conforming loan limit can go as high as $1,149,825.
What is a Conforming Loan?
A conforming loan adheres to the underwriting guidelines set by Fannie Mae and Freddie Mac. To be considered conforming, a mortgage must meet the following criteria:
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The loan amount cannot exceed the conforming loan limit set by the Federal Housing Finance Agency (FHFA) for that county
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The borrower must have good credit (minimum 620 FICO score).
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The debt-to-income ratio cannot exceed 50% of gross monthly income
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The loan has a maximum term of 30 years for a fixed-rate mortgage.
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The borrower must provide a down payment of at least 20% to avoid private mortgage insurance.
Conforming loans offer some key benefits like lower interest rates, flexible credit requirements, and easier processing. That’s because they can be purchased and securitized by Fannie Mae and Freddie Mac.
Conforming Loan Limits in California by County for 2024
The baseline conforming loan limit for most California counties is $766,500 in 2024. However, the limit is higher in certain high-cost metropolitan areas:
- Alameda, Contra Costa, Los Angeles, Marin, San Francisco, San Mateo, Santa Clara, Santa Cruz Counties: $1,149,825
- Monterey County: $920,000
- Napa County: $1,017,750
- Orange County: $1,149,825
- San Benito County: $1,149,825
- San Diego County: $1,006,250
- San Luis Obispo County: $929,200
- Santa Barbara County: $838,350
- Sonoma County: $877,450
- Ventura County: $954,500
Here’s a full list of the 2024 conforming loan limits for California counties:
| County | Limit |
|
Loan Limit Values for 2024
The conforming loan limits for 2024 have increased and apply to loans delivered to Fannie Mae in 2024 (even if originated prior to 1/1/2024). Refer to Lender Letter LL-2023-09 for specific requirements.
Maximum Ceiling for Loan Limits in High-Cost Areas for 2024
* Several states (including Alaska and Hawaii), Guam, Puerto Rico, and the U.S. Virgin Islands do not have any high-cost areas in 2024.
| Units | Contiguous States, District of Columbia, and Puerto Rico* | Alaska, Guam, Hawaii, and the U.S. Virgin Islands |
|---|---|---|
| 1 | $1,149,825 | |
| 2 | $1,472,250 | |
| 3 | $1,779,525 | |
| 4 | $2,211,600 |
Conforming Loan vs Jumbo Loan: Choosing The Best Loan Based On Location and Budget | NerdWallet
FAQ
What is the Jumbo loan amount in 2024?
How much is a Jumbo loan in California?
What is the maximum FHA loan amount in California?
What is the maximum loan amount for a conventional conforming mortgage?
Where can I find conforming loan limits in California?
Bankrate compiled conforming loan limits data from Federal Housing Finance Agency and the FHA loan limits from the U.S. Department of Housing and Urban Development (HUD). Find California mortgage rates. View the current FHA and conforming loan limits for all counties in California. Each California county conforming loan limit is displayed.
What are California conforming and FHA County loan limits?
You are here: Home > 2024 California Conforming and FHA County Loan Limits For 2024, the FHFA (Federal Housing Finance Administration) set the baseline conforming loan limit (CCL) for 1 unit properties at $766,550 (up 5.5% from 2023) for Conventional financing ( Fannie Mae & Freddie Mac) and up to $1,149,825 in California high cost counties.
How much is a conforming loan in California?
The 2023 California conforming loan limit is $726,200 for most counties, and in some high-cost counties, like Contra-Costa County, it’s as high as $1,089,300 ( source ). The baseline conforming loan underwriting requirements are found in Fannie Mae’s “ Selling Guide .”
What is a conforming loan?
A conforming loan is a conventional home loan that “conforms” to the loan limits established by the Federal Housing Finance Agency and the underwriting guidelines of Fannie Mae and Freddie Mac. Here are the 2024 California conforming loan limits for all 58 counties.