San Diego Conforming High Balance Loan Limits Lowered

San Diego Loan LimitsThe conforming loan limits for San Diego County will be lowered starting October 1st, 2011.  The traditional conforming mortgage amount for San Diego purchase and refinance loans will stay at $417,000, but the loan limit for the high balance conforming program will be lowered to $546,250 from $697,500 in San Diego County.

Any mortgage amount in San Diego over the $546,250 will now have to fall under a traditional jumbo loan.  These loans will usually require a higher down payment and a lower debt to income ratio.  They will also have a slightly higher interest rate than what the conforming high balance program would.

Remember that mortgages in San Diego from $417,001 to $546,250 will have about a .25% higher interest rate and slightly more restrictive guidelines than the gtraditional conforming loan program.  I have included a chart below that shows the conforming loan limits for some other areas of California as well.

As a San Diego Mortgage Broker and Banker, I have access to all three categories, traditional conforming, high balance conforming, and true jumbo loans.  Please call me at 619-312-0612 if you would like a quote or click HERE.

County                                                     One Unit Limit

Los Angeles                                             $625,500

Orange                                                     $625,500

Riverside                                                 $417,000

Sacramento                                             $474,950

San Bernardino                                       $417,000

San Francisco                                          $625,000