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 – 2023

The conventional loan limit for San Diego County is:

• $977,500 for a 1 unit
• $1,251,400 for a 2 unit
• $1,512,650 for a 3 unit
• $1,879,850 for a 4 unit

The baseline county limit for all states is $726,200

You can get more information about county limits here.

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 $726,200. 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 $726,200 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 $726,200.

5% down payment limits

If you wanted to make a 5% down payment, the max loan amount is $977,500..

Going above an $977,500 loan amount would require a larger down payment.

San Diego FHA Loan Limit – 2023

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 $977,500, 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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