California has updated mortgage loan limits which increase for FHA and VA loans. The FHA has published the 2017 Mortgage Limits. The new single-family low cost areas is $275,665 and the new maximum loan amount in high cost areas is $636,150*. The new FHA limits apply to case numbers assigned on or after January 1st, 2017
Here are some guideline loan limits for FHA in the areas:
Low Cost Area One-unit: $275,665 Two-unit: $352,950 Three-unit: $426,625 Four-unit: $530,150
High Cost Area One-unit: $636,150 Two-unit: $814,500 Three-unit: $984,525 Four-unit: $1,223,475
The Standard VA limit has also increased and the new maximum amount that VA may guarantee on a home loan limit is $636,150. The county loan limits do NOT apply to IRRRLs. VA will guarantee 25 percent of the loan amount on an IRRRL, regardless of whether the loan exceeds the limit for the particular county.
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