New conforming loan limits for single to 4-unit properties

Posted by on Wednesday, September 7th, 2011 at 9:08pm.

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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