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March 13th, 2008 12:52 PM

The mortgage limits set by the Federal Housing Administration for California counties were raised recently. The new limits are meant to be adjusted relative to the rise in the median price of homes throughout the state, but will only be effective until the end of 2008. San Diego’s limit has been raised to $697,500 from just $417,000. This change comes as an effort to stimulate the origination of larger mortgages, which could lead to lower interest rates. This affects consumers by making flexible financing readily available, even at higher prices.

The new Limits for California, by county are listed below, courtesy of the Wall Street Journal.

FHA Mortgage Limits in California by County

County Name	Median Home Price	FHA Limit
Alameda County	$995,000	$729,750
Alpine County	438,000	547,500
Amador County	355,000	443,750
Butte County	320,000	400,000
Calaveras County	370,000	462,500
Colusa County	318,000	397,500
Contra Costa County	995,000	729,750
Del Norte County	249,000	311,250
El Dorado County	464,000	580,000
Fresno County	305,000	381,250
Glenn County	230,000	287,500
Humboldt County	315,000	393,750
Imperial County	260,000	325,000
Inyo County	350,000	437,500
Kern County	295,000	368,750
Kings County	260,000	325,000
Lake County	321,000	401,250
Lassen County	200,000	271,050
Los Angeles County	710,000	729,750
Madera County	340,000	425,000
Marin County	995,000	729,750
Mariposa County	330,000	412,500
Mendocino County	410,000	512,500
Merced County	378,000	472,500
Modoc County	125,000	271,050
Mono County	370,000	462,500
Monterey County	599,000	729,750
Napa County	615,000	729,750
Nevada County	450,000	562,500
Orange County	710,000	729,750
Placer County	464,000	580,000
Plumas County	328,000	410,000
Riverside County	400,000	500,000
Sacramento County	464,000	580,000
San Benito County	790,000	729,750
San Bernardino County	400,000	500,000
San Diego County	558,000	697,500
San Francisco County	995,000	729,750
San Joaquin County	391,000	488,750
San Luis Obispo County	550,000	687,500
San Mateo County	995,000	729,750
Santa Barbara County	615,000	729,750
Santa Clara County	790,000	72,9750
Santa Cruz County	719,000	729,750
Shasta County	339,000	423,750
Sierra County	228,000	285,000
Siskiyou County	235,000	293,750
Solano County	446,000	557,500
Sonoma County	530,000	662,500
Stanislaus County	339,000	423,750
Sutter County	340,000	425,000
Tehama County	250,000	312,500
Trinity County	200,000	271,050
Tulare County	260,000	325,000
Tuolumne County	350,000	437,500
Ventura County	599,000	729,750
Yolo County	464,000	580,000
Yuba County	340,000	425,000

Posted by Brian Witkin on March 13th, 2008 12:52 PMPost a Comment (1)