Planning on buying or refinancing a home in 2019? You couldn’t have picked a better time for it! We’ve got some fabulous news to welcome in the New Year, and that is that conforming loan limits have taken a jump!
Straight from the Federal Housing Finance Agency, the baseline limit for Fannie Mae and Freddie Mac has increased from $453,100 in 2018 to $484,350 for a single unit.
Of course, in San Diego County, we are in a high-cost area. And this is where the news gets even better. The conforming loan limits for high cost areas have taken a jump too. For 2019, the limit for a single unit property in high-cost areas is $690,000.
Here are ALL the Conforming Loan Limits for San Diego County for 2019:
- One-Unit Limit: $690,000
- Two-Unit Limit: $883,300
- Three-Unit Limit: $1,067,750
- Four-Unit Limit: $1,326,950
For comparison, here are the loan limits for other nearby counties.
Los Angeles Conforming Loan Limits for 2019:
- One-Unit Limit: $726,525
- Two-Unit Limit: $930,300
- Three-Unit Limit: $1,124,475
- Four-Unit Limit: $1,397,400
Riverside County Conforming Loan Limits for 2019:
- One-Unit Limit: $484,350
- Two-Unit Limit: $620,200
- Three-Unit Limit: $749,650
- Four-Unit Limit: $931,600
San Bernardino Conforming Loan Limits for 2019:
- One-Unit Limit: $484,350
- Two-Unit Limit: $620,200
- Three-Unit Limit: $749,650
- Four-Unit Limit: $931,600
Orange County Conforming Loan Limits for 2019:
- One-Unit Limit: $726,525
- Two-Unit Limit: $930,300
- Three-Unit Limit: $1,124,475
- Four-Unit Limit: $1,397,400
Additionally, HUD has released the FHA loan limits for 2019 as well, stating, “FHA’s nationwide forward mortgage limit “floor” and “ceiling” for a one-unit property in Calendar Year 2019 are $314,827 and $726,525, respectively.”
This is more good news, since this also represents an increase over 2018’s floor and ceiling loan limits.
San Diego and Carlsbad are defined as a region between the floor and the ceiling. Here are the FHA loan limits for 2019:
- One-Unit Limit: $690,000
- Two-Unit Limit: $883,300
- Three-Unit Limit: $1,067,750
- Four-Unit Limit: $1,326,950
You can see that these are a match for the conventional loan limits. What about VA loan limits in 2019? The Department of Veterans Affairs reports that “VA’s 2019 Loan Limits are the same as the Federal Housing Finance Agency’s limits.” So that means that VA loan limits are higher in 2019 too. So, there you have it! Whether you are in the market for a conventional loan, FHA loan or VA loan for 2019, you are in great shape! Have questions or need help applying? Please give me a call today at (619) 857-7191. I’ll be thrilled to help you move into your new home in San Diego with an affordable loan in 2019!
