Blogging about real estate in Orange County, California

So it's finally official, enacted, etc. The FHA loan limits have been raised to a reasonable level for high-cost areas (at least through 2008, anyway). What does this mean to you? Well FHA loans allow buyers to go in with a small down payment and a decent interest rate. Because the loan limits were not raised with the market, a hole was created where the government loans simply did not fulfill the needs of buyers. So the loan industry filled that hole with sub-prime loans. FHA loans are generally considered superior, in part due to the requirement for full documentation. There is a PITA factor to going full-doc, which is why many lenders discouraged using FHA loans for so long, but in the current market, this is the only way for many buyers to take advantage of the great prices on properties and finally fulfill their dream of home ownership.

Okay, enough of the fluffy stuff, you no doubt want to know what the qualifying loan limits are, right? Here's a county-by-county breakdown: 
 

County Name               One-Family      Two-Family      Three-Family    Four-Family

                                               

ALAMEDA                 $729,750         $934,200         $1,129,250      $1,403,400

ALPINE                      $547,500         $700,900         $847,200         $1,052,900

AMADOR                   $443,750         $568,050         $686,650         $853,350

BUTTE                        $400,000         $512,050         $618,950         $769,250

CALAVERAS             $462,500         $592,050         $715,700         $889,450

COLUSA                    $397,500         $508,850         $615,100         $764,400

CONTRA COSTA      $729,750         $934,200         $1,129,250      $1,403,400

DEL NORTE               $311,250         $398,450         $481,650         $598,550

EL DORADO              $580,000         $742,500         $897,500         $1,115,400

FRESNO                     $381,250         $488,050         $589,950         $733,150

GLENN                       $287,500         $368,050         $444,900         $552,900

HUMBOLDT              $393,750         $504,050         $609,300         $757,200

IMPERIAL                  $325,000         $416,050         $502,900         $625,000

INYO                          $437,500         $560,050         $677,000         $841,350

KERN                         $368,750         $472,050         $570,600         $709,150

KINGS                        $325,000         $416,050         $502,900         $625,000

LAKE                          $401,250         $513,650         $620,900         $771,650

LASSEN                     $285,000         $364,850         $441,000         $548,050

LOS ANGELES          $729,750         $934,200         $1,129,250      $1,403,400

MADERA                    $425,000         $544,050         $657,650         $817,300

MARIN                       $729,750         $934,200         $1,129,250      $1,403,400

MARIPOSA                $412,500         $528,050         $638,300         $793,250

MENDOCINO            $512,500         $656,100         $793,050         $985,600

MERCED                    $472,500         $604,900         $731,150         $908,650

MODOC                     $271,050         $347,000         $419,400         $521,250

MONO                        $462,500         $592,050         $715,700         $889,450

MONTEREY               $729,750         $934,200         $1,129,250      $1,403,400

NAPA                         $729,750         $934,200         $1,129,250      $1,403,400

NEVADA                    $562,500         $720,100         $870,450         $1,081,750

ORANGE                    $729,750         $934,200         $1,129,250      $1,403,400

PLACER                     $580,000         $742,500         $897,500         $1,115,400

PLUMAS                    $410,000         $524,850         $634,450         $788,450

RIVERSIDE                $500,000         $640,100         $773,700         $961,550

SACRAMENTO         $580,000         $742,500         $897,500         $1,115,400

SAN BENITO             $729,750         $934,200         $1,129,250      $1,403,400

SAN BERNARDINO  $500,000         $640,100         $773,700         $961,550

SAN DIEGO               $697,500         $892,950         $1,079,350      $1,341,350

SAN FRANCISCO     $729,750         $934,200         $1,129,250      $1,403,400

SAN JOAQUIN          $488,750         $625,700         $756,300         $939,900

SAN LUIS OBISPO   $687,500         $880,100         $1,063,850      $1,322,150

SAN MATEO             $729,750         $934,200         $1,129,250      $1,403,400

SANTA BARBARA    $729,750         $934,200         $1,129,250      $1,403,400

SANTA CLARA         $729,750         $934,200         $1,129,250      $1,403,400

SANTA CRUZ            $729,750         $934,200         $1,129,250      $1,403,400

SHASTA                     $423,750         $542,450         $655,700         $814,900

SIERRA                       $285,000         $364,850         $441,000         $548,050

SISKIYOU                  $293,750         $376,050         $454,550         $564,900

SOLANO                    $557,500         $713,700         $862,700         $1,072,150

SONOMA                   $662,500         $848,100         $1,025,200      $1,274,050

STANISLAUS            $423,750         $542,450         $655,700         $814,900