New conforming loan limits for single to 4-unit properties
Beginning October 1, 2011, new limits will be implemented for conforming and FHA loan sizes. These changes will apply to single and multi-family properties (1 to 4-units) and will result in sizeable loan reductions for many counties. Loans above these limits are referred to as "non-conforming" and will still be widely available. Non-conforming loans, however, generally carry higher rates and are somewhat more demanding with respect to qualifying requirements.
The new maximum conforming limit, often referred to as "high balance" or "super" conforming, will be reduced from $729,750 to $625,500 for single family units in high cost areas. Eleven California counties qualify for this maximum conforming loan amount, including six of the Bay Area's nine counties. Alameda, Contra Costa, Marin, San Francisco, San Mateo, and Santa Clara counties qualify for the maximum conforming allowances for 1 to 4-unit properties. Of the remaining three Bay Area counties, loans for single family properties top out at $592,250 for Napa, $417,000 for Solano, and $520,950 for Sonoma.
FHA loans for high cost areas are also being reduced from a maximum of $729,750 to $625,500 and range will from there, county-by-county, to as low as $271,050. In California, the big loser is Monterey County, which is seeing its FHA limit reduced from $729,750 to $483,000 -a difference of $246,750.
Here is a chart listing new conforming limits for all California counties, beginning October 1, 2011:
|
1 Unit |
2 Unit |
3 Unit |
4 Unit |
|
|
ALAMEDA |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $     1,202,925 |
|
ALPINE |
 $       463,450 |
 $       593,300 |
 $       717,150 |
 $       891,250 |
|
AMADOR |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
BUTTE |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
CALAVERAS |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
COLUSA |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
CONTRA COSTA |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $      1,202,925 |
|
DEL NORTE |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
EL DORADO |
 $       474,950 |
 $       608,000 |
 $       734,950 |
 $       913,350 |
|
FRESNO |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
GLENN |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
HUMBOLDT |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
IMPERIAL |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
INYO |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
KERN |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
KINGS |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
LAKE |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
LASSEN |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
LOS ANGELES |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $     1,202,925 |
|
MADERA |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
MARIN |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $     1,202,925 |
|
MARIPOSA |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
MENDOCINO |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
MERCED |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
MODOC |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
MONO |
 $       529,000 |
 $       677,200 |
 $       818,600 |
 $     1,017,300 |
|
MONTEREY |
 $       483,000 |
 $       618,300 |
 $       747,400 |
 $       928,850 |
|
NAPA |
 $       592,250 |
 $       758,200 |
 $       916,450 |
 $     1,138,950 |
|
NEVADA |
 $       477,250 |
 $       610,950 |
 $       738,500 |
 $       917,800 |
|
ORANGE |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $     1,202,925 |
|
PLACER |
 $       474,950 |
 $       608,000 |
 $       734,950 |
 $       913,350 |
|
PLUMAS |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
RIVERSIDE |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
SACRAMENTO |
 $       474,950 |
 $       608,000 |
 $       734,950 |
 $       913,350 |
|
SAN BENITO |
 $       625,500 |
 $       800,775 |
 $        967,950 |
 $     1,202,925 |
|
SAN BERNARDINO |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
SAN DIEGO |
 $       546,250 |
 $       699,300 |
 $       845,300 |
 $     1,050,500 |
|
SAN FRANCISCO |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $     1,202,925 |
|
SAN JOAQUIN |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
SAN LUIS OBISPO |
 $       561,200 |
 $       718,450 |
 $       868,400 |
 $     1,079,250 |
|
SAN MATEO |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $     1,202,925 |
|
SANTA BARBARA |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $     1,202,925 |
|
SANTA CLARA |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $     1,202,925 |
|
SANTA CRUZ |
 $       625,500 |
 $       800,775 |
 $       967,950 |
 $     1,202,925 |
|
SHASTA |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
SIERRA |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
SISKIYOU |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
SOLANO |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
SONOMA |
 $       520,950 |
 $       666,900 |
 $       806,150 |
 $     1,001,850 |
|
STANISLAUS |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
SUTTER |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
TEHAMA |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
TRINITY |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
TULARE |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
TUOLUMNE |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
|
VENTURA |
 $       598,000 |
 $       765,550 |
 $       925,350 |
 $     1,150,000 |
|
YOLO |
 $       474,950 |
 $       608,000 |
 $       734,950 |
 $       913,350 |
|
YUBA |
 $       417,000 |
 $       533,850 |
 $       645,300 |
 $       801,950 |
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