Loan limits rise in San Joaquin County and Sacramento county for the third year in row.  Over the past 8 years our housing prices have shifted drastically and many of our home prices saw 40-60% drops from their 2007 highs.  The economy has been improving and our housing market has rebounded faster than most thought was possible; which is why were seeing loan limit increases. This is welcomed news as many homes in San Joaquin and Sacramento counties have been priced above FHA loan limits for years.

When Loan limits rise potential buyers can purchase a home that may have been out of reach by offering a wider variety of favorable guidelines that FHA and conventional loans provide. Buyers purchasing above set loan limits can still use Jumbo financing, but that also comes with many the negatives borrowers are looking to avoid like larger down payments, higher interest rates, and strict UW guidelines.  Using traditional conforming financing is typically the cheapest and easiest financing to obtain which is why it’s so great when they widen the limits.

2017 FHA Loan Limits San Joaquin

2017 FHA Loan Limits - San Joaquin County (Stockton, Lodi, Manteca)
SingleDuplexTriplexFourplex
$362,250$463,750$560,550$696,650

2017 Fannie Mae Loan Limits San Joaquin

2017 Fannie Mae Loan Limits for San Joaquin County (Stockton, Lodi, Manteca)
SingleDuplexTriplexFourplex
$424,100$543,000$656,350$815,650

2017 FHA Loan Limits Sacramento

2017 FHA Loan Limits Sacramento (Elk Grove, Natomas, Galt, Folsom, Sacramento)
SingleDuplexTriplexFourplex
$488,750$625,700$756,300$939,900

2017 Fannie Mae Loan Limits Sacramento

2017 Fannie Mae Loan Limits Sacramento (Elk Grove, Natomas, Sacramento, Folsom,Galt)
SingleDuplexTriplexFourplex
$488,750$625,700$756,300$939,900

 

 

Summary
Article Name
Loan Limits Rise For FHA and Conventional Loans
Description
Loan limits rise in San Joaquin County and Sacramento county for the third year in row. This is welcomed news as many homes in San Joaquin and Sacramento counties have been priced above FHA loan limits for years. When Loan limits rise potential buyers can purchase a home that may have been out of reach by offering a wider variety of favorable guidelines that FHA and conventional offer.
Author
Jeff Womack

Jeff Womack

Sr Loan Officer and Mortgage Blogger at The Mortgage House Inc.
HARP, FHA, VA, Conventional, USDA, down payment assistance. Blogger and mortgage expert helping potential home buyers finance homes . Serving Stockton, Lodi, Elk Grove, Sacramento (NMLS #262055)
Jeff Womack

@jwmortgagehouse

Mortgage & real estate information with your home loan expert in the Stockton and Sacramento area.
Jeff Womack
Jeff Womack

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