California FHA Loans
FHA loan mortgage lending limits in CALIFORNIA vary based on the different housing types and the costs of local California housing. FHA home loans are designed for borrowers who are unable to make large down payments. FHA loans are also typically an attractive option for first-time home buyers. Check out the 2017 FHA Loan Requirements and Guidelines.
The FHA home loan is a terrific way to purchase a home or condo in California. There are no income limits with California FHA loans. The down payment is only 3.5% (single-family dwelling), and the seller is permitted to pay a percentage of the buyer’s closing costs.
For example, if the home (or condo) were selling for $200,000, your down payment would be $7,000.
The California FHA loan requirements are not any different from the FHA guidelines in the other states, with the exception of the county loan limits. FHA loans have lending limits that are established by Congress each year. Due to some high cost California counties, the FHA county loan limits are higher in these California counties – see below. FHA home loans that exceed the customary FHA home loan lending limits are known as FHA jumbo loans.
Click here for an instant rate quote in California
What exactly is the FHA?
The Federal Housing Administration (FHA) was founded during the Great Depression to support the housing industry. It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934. The FHA remains committed to help homeowners that do not satisfy typical financing needs, have a low credit score or have an inconsistent income history. Borrowers that meet this criteria should also look into HUD Home programs by visiting our HUDHomestore page.
What is the maximum loan amount/limit 2017?
Maximum loan amount vary by county for traditional California FHA Loans. The current base (low-end) FHA loan limit in most of California counties for a one-family home is set at $275,665.00.
California First-Time Home Buyer Loan
The California FHA loan program was designed and created to help increase homeownership. The California FHA loan program makes buying a home easier and less expensive than any other types of real estate mortgage home loan programs.
Are there income limits with California FHA loans?
No!
Do I need to be a first time home buyer?
No you absolutely do not. FHA loans are available for first time home buyers as well as seasoned homeowners.
Is the the seller permitted to pay my closing costs or incentives?
Yes the seller can help towards that. The Federal Housing Administration (FHA) will allow the home seller to pay as much as 6% of the purchase price toward the buyer’s settlement costs.
Do I need to have perfect credit for an FHA loan in California?
The FHA credit score guidelines are the same in California as they are anywhere else in the United States. You can even qualify for an FHA loan with bad credit.
What advantages do home owners have with an FHA loan in California?
Firstly, FHA loans in California have a much smaller down payment than conventional loans. This is often the reason that home buyers choose FHA loans over other types of mortgages. Conventional home loans usually require a down payment equal to 20 percent of the total value of the loan.
You can learn more by clicking here to read about the pros and cons of FHA loans.
Related articles:
Bad Credit Home Loans in Los Angeles
Bad Credit Home Loans in California
California Teacher Home Loans
California Nurse Home Loans
Lending Limits for FHA Loans in CALIFORNIA Counties
2 – FAMILY is two separate living units
3 – FAMILY three separate living units
4 – FAMILY four separate living units
| California Counties | One-Family | Two-Family | Three-Family | Four-Family |
| ALAMEDA | $625,500 | $800,775 | $967,950 | $1,202,925 |
| ALPINE | $463,450 | $593,300 | $717,150 | $891,250 |
| AMADOR | $332,350 | $425,450 | $514,300 | $639,150 |
| BUTTE | $293,250 | $375,400 | $453,750 | $563,950 |
| CALAVERAS | $373,750 | $478,450 | $578,350 | $718,750 |
| COLUSA | $271,050 | $347,000 | $419,425 | $521,250 |
| CONTRA COSTA | $625,500 | $800,775 | $967,950 | $1,202,925 |
| DEL NORTE | $271,050 | $347,000 | $419,425 | $521,250 |
| EL DORADO | $474,950 | $608,000 | $734,950 | $913,350 |
| FRESNO | $281,750 | $360,700 | $436,000 | $541,800 |
| GLENN | $271,050 | $347,000 | $419,425 | $521,250 |
| HUMBOLDT | $327,750 | $419,550 | $507,150 | $630,300 |
| IMPERIAL | $271,050 | $347,000 | $419,425 | $521,250 |
| INYO | $369,150 | $472,550 | $571,250 | $709,900 |
| KERN | $271,050 | $347,000 | $419,425 | $521,250 |
| KINGS | $271,050 | $347,000 | $419,425 | $521,250 |
| LAKE | $271,050 | $347,000 | $419,425 | $521,250 |
| LASSEN | $271,050 | $347,000 | $419,425 | $521,250 |
| LOS ANGELES | $625,500 | $800,775 | $967,950 | $1,202,925 |
| MADERA | $271,050 | $347,000 | $419,425 | $521,250 |
| MARIN | $625,500 | $800,775 | $967,950 | $1,202,925 |
| MARIPOSA | $322,000 | $412,200 | $498,250 | $619,250 |
| MENDOCINO | $373,750 | $478,450 | $578,350 | $718,750 |
| MERCED | $271,050 | $347,000 | $419,425 | $521,250 |
| MODOC | $271,050 | $347,000 | $419,425 | $521,250 |
| MONO | $529,000 | $677,200 | $818,600 | $1,017,300 |
| MONTEREY | $502,550 | $643,350 | $777,650 | $966,450 |
| NAPA | $615,250 | $787,650 | $952,050 | $1,183,200 |
| NEVADA | $477,250 | $610,950 | $738,500 | $917,800 |
| ORANGE | $625,500 | $800,775 | $967,950 | $1,202,925 |
| PLACER | $474,950 | $608,000 | $734,950 | $913,350 |
| PLUMAS | $336,950 | $431,350 | $521,400 | $648,000 |
| RIVERSIDE | $355,350 | $454,900 | $549,850 | $683,350 |
| SACRAMENTO | $474,950 | $608,000 | $734,950 | $913,350 |
| SAN BENITO | $625,500 | $800,775 | $967,950 | $1,202,925 |
| SAN BERNARDINO | $355,350 | $454,900 | $549,850 | $683,350 |
| SAN DIEGO | $562,350 | $719,900 | $870,200 | $1,081,450 |
| SAN FRANCISCO | $625,500 | $800,775 | $967,950 | $1,202,925 |
| SAN JOAQUIN | $304,750 | $390,100 | $471,550 | $586,050 |
| SAN LUIS OBISPO | $561,200 | $718,450 | $868,400 | $1,079,250 |
| SAN MATEO | $625,500 | $800,775 | $967,950 | $1,202,925 |
| SANTA BARBARA | $625,500 | $800,775 | $967,950 | $1,202,925 |
| SANTA CLARA | $625,500 | $800,775 | $967,950 | $1,202,925 |
| SANTA CRUZ | $625,500 | $800,775 | $967,950 | $1,202,925 |
| SHASTA | $273,700 | $350,350 | $423,500 | $526,350 |
| SIERRA | $304,750 | $390,100 | $471,550 | $586,050 |
| SISKIYOU | $271,050 | $347,000 | $419,425 | $521,250 |
| SOLANO | $400,200 | $512,300 | $619,300 | $769,600 |
| SONOMA | $520,950 | $666,900 | $806,150 | $1,001,850 |
| STANISLAUS | $276,000 | $353,300 | $427,100 | $530,750 |
| SUTTER | $271,050 | $347,000 | $419,425 | $521,250 |
| TEHAMA | $271,050 | $347,000.00 | $419,425 | $521,250.00 |
| TRINITY | $271,050 | $347,000 | $419,425 | $521,250 |
| TULARE | $271,050 | $347,000.00 | $419,425 | $521,250.00 |
| TUOLUMNE | $331,200 | $424,000 | $512,500 | $636,900 |
| VENTURA | $603,750 | $772,900 | $934,250 | $1,161,050 |
| YOLO | $474,950 | $608,000.00 | $734,950 | $913,350.00 |
| YUBA | $271,050 | $347,000.00 | $419,425 | $521,250.00 |
