San Diego Conforming Loan Limits

The majority of the mortgages available today have a maximum loan limit for borrowers. The limit changes for each county, some counties are considered high-cost while others are not.

This is true for conventional mortgage loans as well as government-backed programs like FHA.

Borrowers who want to use a Conventional home loan or FHA must adhere to these restrictions.

San Diego Conforming Loan Limits Conventional – 2022

The conventional loan limit for San Diego County is:

• $879,750 for a 1 unit
• $1,126,250 for a 2 unit
• $1,361,350 for a 3 unit
• $1,691,850 for a 4 unit

The baseline county limit for all states is $647,200

The baseline county limit is increasing to $715,000 for 2023. We will update the San Diego limits as soon as we get the update.

How do the county limits affect you?

It affects the amount of down payment that you would need to make.

There are several down payment options on a Conventional Loan.

If you wanted to make a 3% down payment, the max loan amount is $647,200. If you go above this amount, a larger down payment would be required.

3% down payment is for first time home buyers only, and is limited to a $647,200 loan amount in all states and counties.

Note: Manufactured homes require a minimum down payment of 5% even if the loan amount is less than $647,200.

5% down payment limits

If you wanted to make a 5% down payment, the max loan amount is $879,750 which is a purchase price of $926,000.

Going above an $879,750 loan amount would require a larger down payment.

If you are interested in purchasing for more than $926,000 and want to keep your down payment within the 5% range, a NonQM loan may be a better option for you.

San Diego FHA Loan Limit – 2022

The FHA program works a bit differently than Conventional.

It’s more lenient when it comes to down payment, credit scores, and debt-ratios, but in today’s market sellers prefer accepting an offer with a buyer using conventional financing rather than FHA. 

The FHA county limit for San Diego is $879,750, which means you can get an FHA loan with only a 3.5% down payment. 

More info that may be of interest to you:

• Difference between a Conventional and FHA loan
• First time home buyer guide
• 5 Reasons to Buy a House in San Diego

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