San Diego's *New* Conforming Mortgage Loan Limits: Conventional, FHA, VA, USDA, & Jumbo (Updated for 2022)
✍️ Just announced on 11/30/2021 were the brand new conforming mortgage loan limits nationwide.
✍️ There's always some announcement around Thanksgiving and if the limits are increased it goes into effect for all loans by January 1 of the next year - although, most lenders I work with have them go into effect immediately.
✍️ And, since San Diego is a higher cost area - we also get higher limits.
In this post I go over:
- The conforming loan limits for the $0 down DPA loan, $0 down USDA loan, the $0 down VA loan, the 3% down conforming loan, the 3.5% down FHA loan, and the 10% down jumbo loan
- The loan limits for a duplex, triplex, and fourplex
- The loan minimums for a jumbo loan
- The minimum down payments needed for each loan type
- And how to apply online
➡️ Here they are below for all San Diego County FHA and Conforming Loans (USDA and VA loans don't have a max) for a single family home, PUD, townhome, condo:
✔️ $647,200 is the nationwide max conforming loan limit (this is up from $548,250)
✔️ $879,750 is San Diego max super conforming loan limit (this is up from $753,250)
➡️ If you are looking to get a 2, 3, or 4 unit property they are as follows:
✔️ Duplex is $1,126,250 loan limit (this is up from $964,300)
✔️ Triplex is $1,361,350 loan limit (this is up from $1,165,600)
✔️ Fourplex is $1,691,850 loan limit (this is up from $1,448,600)
✍️ Please keep in mind this is for a *loan* amount not sales price.
➡️ If you are looking to get a Jumbo loan then these are the *minimum* loan amounts below:
✔️ Home is $879,751 loan amount or more
✔️ Duplex is $1,126,251 loan amount or more
✔️ Triplex is $1,361,350 loan amount or more
✔️ Fourplex is $1,691,850 loan amount or more
➡️ Here is a friendly reminder of the minimum down payments needed per loan type (Click on each loan for detailed descriptions):
✔️ DPA loan is 0% down (This loan is great if you have a good credit score, make a great income, yet don't have $$$ for the down payment)
✔️ USDA loan is 0% down (if you want to buy in the countryside of San Diego such as: Fallbrook, Pauma Valley, Ramona, Julian, and many other areas).
✔️ VA loan is 0% down (if you were or are in the military)
✔️ Conventional loan is 3% down up to a $647,200 loan amount and 5% down up to a $879,750 loan amount).
✔️ FHA loan is 3.5% down up to a $879,750 loan amount (my most popular down payment assistance loan today, is by combining a DPA loan + FHA loan = no $$$ out of pocket for the down payment).
✔️ Jumbo loan is 10.01% down above a $879,750 loan amount
✍️ Please keep in mind these are the minimum down payments needed for the loan type and not necessarily your personal situation.
➡️ You can always get pre-approved online fast, free, and secure below:
☎ I would love to help assist you with your home purchase, home sale, or home loan - please feel free to give me a call, text, or use the form below.
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