2018 Loan Limits for San Diego County

2018 Loan Limits

Big news about the 2018 loan limits for San Diego County. And I do mean BIG

On 11/28/2017, the Federal Housing Finance Agency (FHFA) announced the new loan limits for 2018. And the increases are substantial

Conforming loan limits for 2018

In 2017, for the first time since 2006, the conforming loan limit was increased to $424,100. That was an increase of $7100 from the previous limit of $417,000.
This year’s increase is much more substantial. The conforming loan limit nationwide will be $453,100!

That loan limit will apply for one unit properties. Additional limits exist for multi-unit properties.

2018 Conforming Loan Limits for San Diego County (Check out the 2017 loan limits)

Fannie and Freddie have  confirmed the loan limits for conventional financing. The Loan Limits for FHA and VA loans area expected to follow suit. Remember that VA does not make allowances for higher loan amounts based on the number of in the property.

Watch the YouTube Video here

High balance loan limits for 2018

If you are in a high-cost area, like San Diego County, you also have access to high balance loans.

The max high balance loan amount for a one unit property in San Diego County is $649,750. Below is the breakdown based on number of units.

2018 High Balance Loan Limits for San Diego County

What is the difference?

Conforming and high balance loans have many guidelines in common. However, some differences are

  • Larger down payment requirements for conventional loans
  • More restrictions on the Debt-To-Income ratio requirements
  • Different interest rates

High balance loans bridge the gap between conforming and the sometimes more restrictive guidelines of jumbo or non-conforming financing.

By the way, the rates you see advertised are quite often conforming loan rates. Read the fine print when looking at ads before you get too excited!

The 2018 Loan Limits do vary by county and you can check out the complete list here: 2018 Loan Limits by county

So, there you have it. A quick look at the 2018 Loan Limits for San Diego County

If you have any questions on this topic or any other mortgage-related topic, by all means reach out to me.
Send me an email
Give me a call – (858) 3-LOAN-SD
Text LOANINFO to 44222
Connect with me on Social Media.Laura Borja on Social Media


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