The Mortgage Minute | 2017 Loan Limits for San Diego County

2017 Loan Limits for San Diego county

The Mortgage Minute | 2017 Loan Limits for San Diego County

Did you know that loan limits vary by County? Welcome to this week’s The Mortgage Minute. This week we will be taking a look at the 2017 loan limits for conforming and high balance loans in San Diego County

The Mortgage Minute is weekly informational series presented by Laura Borja, Your San Diego home loan expert.

We have some very exciting news! For the first time since 2006, the conforming loan limit has been increased!
Say goodbye to the old $417, 000 limit and say hello to the new 2017 conforming loan limits nationwide!
(Check out the 2016 Loan Limits)

Prefer video to reading? All of the information below is in this video

These loan limits have been confirmed by Fannie and Freddie for conventional financing as well as by HUD for FHA loans. 2017 Conforming Loan Limits in San DiegoVA is expected to follow suit except that they have only one loan limit. They don’t increase it based on the number of units in the property.

The expected maximum conforming VA loan limit should be $424,100.

Now if you live in high-cost areas like we do here in San Diego, you also have access to high balance loans.
And these are the loan limits for us here in San Diego.2017 High Balance Loan Limits San Diego County

A high balance loan allows you to finance a bigger loan amount but still be able to follow the standard conforming loan guidelines by Fannie and Freddie instead of having to move over to be sometimes more restrictive guidelines of jumbo or non-conforming financing.

By the way, when you see interest rates advertised on the internet or newspaper or radio, those rates usually are
referring to conforming loans not high balance loans.

Do you want to check out what the 2017 loan limits are in other parts of the country or the state?Loan Limits in the US Then click on the picture or go to



Let’s do a quick recap of down payment requirements.
These are for one unit properties by the way.Down Payments for Conforming loans

If you are a first time homebuyer purchasing an owner-occupied property, conforming loans will allow you to get in with as little as 3% down, 5% is the minimum requirement for everybody else unless you are an investor. Then you will need a minimum of 15%.
FHA remains the same at 3.5% and VA at zero down up to the county loan limit.

TDown Payment High Balance Loan Limitshe high balance down payment requirements are pretty much the same as the conforming loans accept that there is no provision for first-time homebuyers. Everyone has to come up with a minimum of 5% down for one unit properties owner occupied or 15% if you are an investor. FHA is still 3.5% and VA zero down up to the county loan limit.



And there you have it. A quick look at the 2017 loan limits for San Diego County.

If you have any questions or if you’re ready to start the pre-approval process by all means send me an email, give me a call or shoot me a text. I’ll be happy to help.

Thanks for checking out this week’s The Mortgage Minute. Until next week!


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