Federal Housing Administration (FHA) Loans are federally insured mortgages. Loan amounts in San Diego County cannot exceed the aforementioned ceilings.
The conventional loan limit set by Fannie Mae and Freddie Mac, also known as the Fannie Mae and Freddie Mac loan limit, is the basis for VA loan limits.
20% down payment, a high credit score, and other requirements are necessary for conventional mortgages. If you are eligible, these Loan limits are higher than FHA limits, allowing you to buy a larger home.
Seniors can use home equity conversion mortgages to surrender equity in their homes in exchange for consistent payments that will supplement their retirement income. In San Diego County, HECM loan amounts cannot go over the aforementioned ceiling.
Local Loan Limits — San Diego County, CA
Depending on how many units there are on the property, there are different FHA and conventional loan limits. Only properties with 1 to 4 living units are eligible for FHA loans. If the owner resides in one of the units, an FHA loan may be used to purchase these one- to four-unit buildings. Homes with more than 4 units are categorized as commercial properties and are not eligible for FHA or conventional loans.
In San Diego County, California, FHA loan limits range from $879,750 for single-family homes to $1,691,850 for four-family homes. San Diego County’s conventional loan limits range from $879,750 for homes with one living unit to $1,691,850 for four living units. San Diego County’s HECM (Home Equity Conversion Mortgage) limits for 2022 are $970,800. The size of the home has no bearing on the HECM limit.
What are Conventional Loans?
Conventional loans, also known as “conforming” loans, adhere to the standards established by Freddie Mac and Fannie Mae. In order to provide liquidity, Fannie Mae and Freddie Mac purchase mortgages from lenders. This allows lenders to continue lending to home buyers. If not, banks might run out of cash and be unable to continue lending. The types of loans that Fannie and Freddie will purchase must meet strict criteria.
High cost caps are in place in San Diego County to offset its above-average housing costs. San Diego County limits exceed the 2022 national floor.
FHA Home Appraisal in San Diego County
An FHA-approved appraiser must assess the property to determine whether it is eligible for an FHA loan. Find FHA-approved appraisers in San Diego County. To find San Diego County home inspectors who are FHA-approved, click here if you’re in need of one. Searching for FHA condos that have already received approval can also save you time.
VA Loan Limits in San Diego County
VA loans allow you to purchase a home with very little money down, similar to FHA loans. However, only veterans of the armed forces are eligible for VA Loans. When a veteran applies for a VA loan, the Department of Veterans Affairs guarantees the loan. The VA’s maximum guarantee amount is equal to the single-family Fannie/Freddie Loan Limit. Therefore, the maximum VA loan amount for San Diego County, California, in 2022 is $879,750.
How to qualify for an FHA Loan in San Diego County, California?
In San Diego County, the minimum loan amount is $5,000 and can reach $1,691,850 depending on the size of the home and the type of loan. You must intend to reside in the home to be eligible for an FHA loan. FHA loans cannot be used for real estate investments in San Diego County, even though a loan can cover some renovation costs.
Additionally, your loan cannot be for more than the value of the house you are buying. Learn more about FHA Loan Requirements.
Cities and ZIP Codes in San Diego County
The following ZIP codes are also subject to San Diego County loan limits: 92154, 91911, 91910, 92126, 92114, 92021, 92105, 91977, 92129, 92057, 92056, 92071, 91950, 92117, 92024, 92130, 92128, 92064, 92020, 92027, 92173, 92026, 92115, 92028, 91941,
HUD, the Department of Housing and Urban Development, provided the data GOV). Please get in touch with us if you find any mistakes on this page.
FAQ
What is the conforming loan limit for San Diego County 2022?
Mortgage Loan Limits in San Diego County for 2022 As of January 1st, 2022, San Diego County has the following loan limits: Conforming loans: up to $647,200 Super Conforming loans: $647,201 to $879,750.
What is the high balance loan limit in California for 2022?
California’s conforming loan ceiling for 2022 is $647,200 and increases to $970,800 for high-cost counties (also known as high balance mortgage loans) for one-unit properties.
What is the jumbo loan limit for 2022 San Diego?
A jumbo loan in San Diego County is one with a balance higher than $879,750.
Will conforming loan limits increase in 2022 California?
The conforming loan limits for mortgages that Fannie Mae and Freddie Mac will purchase in 2023 have been established by the Federal Housing Finance Agency. The single-family home loan maximum in most of California is $726,200, an increase of $79,000 from $647,200 in 2022.