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

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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