San Diego and Surrounding Communities
The limits have been revised as of 2/17/2009 READ HERE
The Federal Housing Finance Agency (FHFA) released conforming loan limits for 2009 today. The limits will remain at $417,000 for most areas in the United States. The conforming mortgage limit is the maximum size loan that Fannie Mae and Freddie Mac can purchase in 2009.
These limits do depend on the property location. In San Diego County, a high cost area, the limit for single unit properties will be $546,250. The table gives the conforming mortgage limits for 1 to 4 unit properties for San Diego County and neighboring areas. (Consult the links in the references section for other areas.) Loans above this limit are known as jumbo loans, and higher interest rates are almost always charged for these loans.
| Location: | One Unit | Two Units | Three Units | Four Units |
| Conforming Limits | $417,000 | $533,850 | $645,300 | $801,950 |
| San Diego County | $546,250 | $699,300 | $845,300 | $1,050,500 |
| Imperial County | $417,000 | $533,850 | $645,300 | $801,950 |
| Orange County | $625,500 | $800,775 | $967,950 | $1,202,925 |
| Riverside County | $417,000 | $533,850 | $645,300 | $801,950 |
Higher conforming limits were available (up to $697,500) under the Housing and Economic Recovery Act of 2008. (Technically, they are still available but would require immediate action.)
Setting Conforming Loan Limits:
For single family (one unit) properties in high cost areas, the maximum loan limit is 1.15 times the median house price in the county (that’s a simplification…it’s more complicated in most metropolitan areas). The maximum loan limit cannot exceed $625,500 (which is 1.50 times the 2009 conforming loan limit of $417,000), except in Alaska, Hawaii, Guam, and the Virgin Islands. Loan limits for 2-4 unit properties increase in proportion to the 1-unit limits.
References:
Federal Housing Finance Agency:
Conforming Loan Limits for High Cost Areas by County:
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