FHA Loans and FHA Loan Limits in California

https://www.mattthemortgageguy.com 916-529-7600 In this episode I talk about FHA loan limits in California. FHA raised the loan limits across the board but it is important to understand the limit is different in each county.

Apply for a FHA Loan

FHA Limits for 2017 in California

Lending Limits for FHA Loans in CALIFORNIA Counties

FHA mortgage lending limits in CALIFORNIA vary based on a variety of housing types and the cost of local housing. FHA loans are designed for borrowers who are unable to make large down payments.

Following graph courtesy of fha.com
ALAMEDA County
SAN FRANCISCO-OAKLAND-HAYWARD, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
ALPINE County
NON-METRO
Single Duplex Tri-plex Four-plex
$463,450 $593,300 $717,150 $891,250
AMADOR County
NON-METRO
Single Duplex Tri-plex Four-plex
$332,350 $425,450 $514,300 $639,150
BUTTE County
CHICO, CA
Single Duplex Tri-plex Four-plex
$293,250 $375,400 $453,750 $563,950
CALAVERAS County
NON-METRO
Single Duplex Tri-plex Four-plex
$373,750 $478,450 $578,350 $718,750
COLUSA County
NON-METRO
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
CONTRA COSTA County
SAN FRANCISCO-OAKLAND-HAYWARD, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
DEL NORTE County
CRESCENT CITY, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
EL DORADO County
SACRAMENTO–ROSEVILLE–ARDEN-ARCADE, CA
Single Duplex Tri-plex Four-plex
$488,750 $625,700 $756,300 $939,900
FRESNO County
FRESNO, CA
Single Duplex Tri-plex Four-plex
$281,750 $360,700 $436,000 $541,800
GLENN County
NON-METRO
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
HUMBOLDT County
EUREKA-ARCATA-FORTUNA, CA
Single Duplex Tri-plex Four-plex
$327,750 $419,550 $507,150 $630,300
IMPERIAL County
EL CENTRO, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
INYO County
NON-METRO
Single Duplex Tri-plex Four-plex
$369,150 $472,550 $571,250 $709,900
KERN County
BAKERSFIELD, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
KINGS County
HANFORD-CORCORAN, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
LAKE County
CLEARLAKE, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
LASSEN County
SUSANVILLE, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
LOS ANGELES County
LOS ANGELES-LONG BEACH-ANAHEIM, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
MADERA County
MADERA, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
MARIN County
SAN FRANCISCO-OAKLAND-HAYWARD, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
MARIPOSA County
NON-METRO
Single Duplex Tri-plex Four-plex
$322,000 $412,200 $498,250 $619,250
MENDOCINO County
UKIAH, CA
Single Duplex Tri-plex Four-plex
$373,750 $478,450 $578,350 $718,750
MERCED County
MERCED, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
MODOC County
NON-METRO
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
MONO County
NON-METRO
Single Duplex Tri-plex Four-plex
$529,000 $677,200 $818,600 $1,017,300
MONTEREY County
SALINAS, CA
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
NAPA County
NAPA, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
NEVADA County
TRUCKEE-GRASS VALLEY, CA
Single Duplex Tri-plex Four-plex
$477,250 $610,950 $738,500 $917,800
ORANGE County
LOS ANGELES-LONG BEACH-ANAHEIM, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
PLACER County
SACRAMENTO–ROSEVILLE–ARDEN-ARCADE, CA
Single Duplex Tri-plex Four-plex
$488,750 $625,700 $756,300 $939,900
PLUMAS County
NON-METRO
Single Duplex Tri-plex Four-plex
$336,950 $431,350 $521,400 $648,000
RIVERSIDE County
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA
Single Duplex Tri-plex Four-plex
$379,500 $485,800 $587,250 $729,800
SACRAMENTO County
SACRAMENTO–ROSEVILLE–ARDEN-ARCADE, CA
Single Duplex Tri-plex Four-plex
$488,750 $625,700 $756,300 $939,900
SAN BENITO County
SAN JOSE-SUNNYVALE-SANTA CLARA, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
SAN BERNARDINO County
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA
Single Duplex Tri-plex Four-plex
$379,500 $485,800 $587,250 $729,800
SAN DIEGO County
SAN DIEGO-CARLSBAD, CA
Single Duplex Tri-plex Four-plex
$612,950 $784,700 $948,500 $1,178,750
SAN FRANCISCO County
SAN FRANCISCO-OAKLAND-HAYWARD, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
SAN JOAQUIN County
STOCKTON-LODI, CA
Single Duplex Tri-plex Four-plex
$362,250 $463,750 $560,550 $696,650
SAN LUIS OBISPO County
SAN LUIS OBISPO-PASO ROBLES-ARROYO GRAN
Single Duplex Tri-plex Four-plex
$586,500 $750,800 $907,550 $1,127,900
SAN MATEO County
SAN FRANCISCO-OAKLAND-HAYWARD, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
SANTA BARBARA County
SANTA MARIA-SANTA BARBARA, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
SANTA CLARA County
SAN JOSE-SUNNYVALE-SANTA CLARA, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
SANTA CRUZ County
SANTA CRUZ-WATSONVILLE, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
SHASTA County
REDDING, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
SIERRA County
NON-METRO
Single Duplex Tri-plex Four-plex
$304,750 $390,100 $471,550 $586,050
SISKIYOU County
NON-METRO
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
SOLANO County
VALLEJO-FAIRFIELD, CA
Single Duplex Tri-plex Four-plex
$431,250 $552,050 $667,350 $829,350
SONOMA County
SANTA ROSA, CA
Single Duplex Tri-plex Four-plex
$595,700 $762,600 $921,800 $1,145,600
STANISLAUS County
MODESTO, CA
Single Duplex Tri-plex Four-plex
$299,000 $382,750 $462,650 $575,000
SUTTER County
YUBA CITY, CA
Single Duplex Tri-plex Four-plex
$276,000 $353,300 $427,100 $530,750
TEHAMA County
RED BLUFF, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
TRINITY County
NON-METRO
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
TULARE County
VISALIA-PORTERVILLE, CA
Single Duplex Tri-plex Four-plex
$275,665 $352,950 $426,625 $530,150
TUOLUMNE County
SONORA, CA
Single Duplex Tri-plex Four-plex
$331,200 $424,000 $512,500 $636,900
VENTURA County
OXNARD-THOUSAND OAKS-VENTURA, CA
Single Duplex Tri-plex Four-plex
$636,150 $814,500 $984,525 $1,223,475
YOLO County
SACRAMENTO–ROSEVILLE–ARDEN-ARCADE, CA
Single Duplex Tri-plex Four-plex
$488,750 $625,700 $756,300 $939,900
YUBA County
YUBA CITY, CA
Single Duplex Tri-plex Four-plex
$276,000 $353,300 $427,100 $530,750
FHA Loan Information
The FHA does not lend money.The FHA (Federal Housing Administration) is part of HUD & backs individual Approved Lenders.
Note: We are not affiliated with the Federal Housing Administration, the Department of Housing and Urban Development, or any other government agency. We are an FHA Educational Resource.
Our responsibility is to help you find the best  FHA Approved Lender who can help you secure home financing.
When you fill in our short application we will provide your information to one, (and only one!)  FHA Approved Lender who can help you based upon many factors, including your Credit Score, your State Location, and the Type of Loan you apply for.  Start here  
Information below courtesy of The Federal Housing Administration (FHA)

The Federal Housing Administration (FHA)

What is the Federal Housing Administration?

The Federal Housing Administration, generally known as “FHA”, provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals. It is the largest insurer of mortgages in the world, insuring over 38 million properties since its inception in 1934.

What is FHA Mortgage Insurance?

FHA mortgage insurance provides lenders with protection against losses as the result of homeowners defaulting on their mortgage loans. The lenders bear less risk because FHA will pay a claim to the lender in the event of a homeowner’s default. Loans must meet certain requirements established by FHA to qualify for insurance.

Why does FHA Mortgage Insurance exist?

All Loan Terms (Greater than 15 years and less than or equal to 15 years):

LTV greater than 90%
Annual MIP will be collected until the end of the loan term, or 30 years, whichever occurs first.

LTV less than or equal to 90%
Annual MIP will be collected until the end of the loan term, or 11 years, whichever occurs first.

You also have to pay the 1.75% for any amount of loan at all LTVs.

 

How is FHA funded?

FHA is the only government agency that operates entirely from its self-generated income and costs the taxpayers nothing. The proceeds from the mortgage insurance paid by the homeowners are captured in an account that is used to operate the program entirely. FHA provides a huge economic stimulation to the country in the form of home and community development, which trickles down to local communities in the form of jobs, building suppliers, tax bases, schools, and other forms of revenue.

The History of FHA

Congress created the Federal Housing Administration (FHA) in 1934. The FHA became a part of the Department of Housing and Urban Development’s (HUD) Office of Housing in 1965.

When the FHA was created, the housing industry was flat on its back:

  • Two million construction workers had lost their jobs.
  • Terms were difficult to meet for homebuyers seeking mortgages.
  • Mortgage loan terms were limited to 50 percent of the property’s market value, with a repayment schedule spread over three to five years and ending with a balloon payment.
  • America was primarily a nation of renters. Only four in 10 households owned homes.

During the 1940s, FHA programs helped finance military housing and homes for returning veterans and their families after the war.

In the 1950s, 1960s and 1970s, the FHA helped to spark the production of millions of units of privately-owned apartments for elderly, handicapped and lower income Americans. When soaring inflation and energy costs threatened the survival of thousands of private apartment buildings in the 1970s, FHA’s emergency financing kept cash-strapped properties afloat.

The FHA moved in to steady falling home prices and made it possible for potential homebuyers to get the financing they needed when recession prompted private mortgage insurers to pull out of oil producing states in the 1980s.

By 2001, the nation’s homeownership rate had soared to an all time high of 68.1 percent as of the third quarter that year.

The FHA and HUD have insured over 38 million home mortgages and 48,500 multifamily project mortgages since 1934. FHA currently has 7.95 million insured single family mortgages and 14,452 insured multifamily projects in its portfolio.

In the 83 years since the FHA was created much has changed and Americans are now arguably the best housed people in the world. HUD has helped greatly with that success.

#FHA #LoanLimits #SacCounty #PlacerCounty #DebtToIncome #2017 #TalkToAPro #RocketsBreakDown #ShopLocal #Sacramento #HomeBuyers #FirstTimeBuyers #2017 #HomeLoanProcess #HomePurchase #Homebuyer #LenderResource #Realtors #MortgageGuy #DirectLender

Apply for a FHA Loan