*This post has been updated. Please see 2014 Conforming Loan Limits in San Diego.
The 2013 conforming loan limits for San Diego County will remain at $417,000 for traditional conforming loans and $546,250 for the San Diego high balance conforming loan program. This is good news for those who are still looking to purchase a home in 2013 or refinance and take advantage of San Diego Mortgage Rates still at historic lows. The San Diego HARP 2.0 Program will also be available throughout 2013 at these loan limits.
The High Balance loan program which is from $417,001 to $546,250 will have about a quarter percent higher interest rate and slightly more restrictive guidelines. This includes requiring higher FICO scores and lower debt to income ratios. There is a chart below that shows the 2013 conforming loan limits for other areas of California as well.
Home loans that exceed the San Diego high balance loan limits of $546,250 will have to use a Jumbo Loan. These loans are available up to $2 million or more in some cases. They will be subject to lower loan to value ratios and debt to income ratios and will require higher reserves.
As a San Diego Mortgage Broker, I have access to all the above options; traditional conforming, high balance conforming, and true jumbo loans at great San Diego mortgage rates and closing costs. Please give me a call at 619-312-0612 with questions or if you would like an interest rate quote please fill out the form at the top right of this page. I am also able to complete pre-approvals within 24 hours.
|County||One Unit Limit|
|SAN LUIS OBISPO||$561,200|