2018 Home Loan Limits: Changes for the New Year

As is often the case, the new year means new loan limits for home loan borrowers. If you plan to purchase or refinance a home in the coming year, use this as a quick reference guide on which of the 2018 loan limits may apply to you.

But first, a quick recap of how mortgage loan limits are determined. Here are the determining factors used for updating conventional, FHA and VA loan limits.

Conventional loans: The Federal Housing Finance Agency (FHFA), which is the HUD agency that regulates Fannie Mae and Freddie Mac, updates the conforming loan limits for every county in the United States. The annually updated limits are based on the House Price Index (HPI), an aggregate of prices for repeat home purchases and refinances.

FHA loans: Unlike the FHFA, HUD and the FHA determine their maximum county mortgage limit by setting “floor” and “ceiling” loan limits ranging from 80% to 150% of the median home prices on single family homes.

VA loans: The Department of Veterans Affairs (VA) limits the amount of loan it will insure; in 2018, the VA will once again adopt the FHFA’s 2018 baseline conforming and high balance loan limits for their own.

What are the 2018 Home Loan Limits in California?

2018 Conventional Loan Limits

  • Riverside County – $453,100
  • San Bernardino County – $453,100
  • Kern County – $453,100
  • Los Angeles County – $679,650
  • Orange County – $679,650
  • San Diego County – $649,750

2018 FHA Loan Limits

  • Riverside County – $405,950
  • San Bernardino County – $405,950
  • Kern County – $294,515
  • Los Angeles County – $679,650
  • Orange County – $679,650
  • San Diego County – $649,750

2018 VA Loan Limits (Up to 100%)

  • Riverside County – $453,100
  • San Bernardino County – $453,100
  • Kern County – $453,100
  • Los Angeles County – $679,650
  • Orange County – $679,650
  • San Diego County – $649,750

Buying or refinancing in northern California? A complete list of 2018 loan limits in California (all counties in the state) can be found here.

To find out how these 2018 home loan limits changes may increase your borrowing power on your next home loan, contact Wholesale Capital Corporation.

Wholesale Capital Corporation is not affiliated with or acting on behalf of or at the direction of the Federal Housing Authority (FHA), the Department of Veterans Affairs (VA), or any government agency or government-sponsored entity. WCC is licensed by the California Bureau of Real Estate, Broker License #01147747 and the California Department of Business Oversight Finance Lenders License #603K610. Also licensed in Arizona by the Arizona Department of Financial Institutions, MB #0926199. NMLS# 9873.