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Jumbo Loans in California
Jumbo Loans in California

Jumbo loan limits in California Still at 2013 levels

The government designated 208 high-cost areas across the nation including areas of California as high-cost areas in which the conforming loan limit is raised to $625,500 for most single family residence.

For the ninth consecutive year jumbo loan limits in California remain unchanged and range between $417,000 and $625,500 depending on the county of the property. Alameda County, for example, has a jumbo loan limit of $625,500 whereas in San Bernardino County the Jumbo Loan Limit sits at the lower level of $417,000.

The discrepancy of jumbo loan limits in California by county reflect the differences in median income, education, and of course cost-of-living. Jumbo loans make it accessible for a borrower to purchase a high-priced home in a luxury market, although there are stricter requirements to qualify for a jumbo loan which buyers should be aware of including:

• Debt-to-income ratio no higher than 43% – the monthly house payment can’t exceed 43% of pretax income;

• FICO credit score of at least 720;

• Down payment of at least 20 percent;

• Proof of income and cash reserves of six – 18 months of mortgage payments, including taxes and fees.

Jumbo loan requirements also commonly extend beyond the borrower’s ability to repay the loan. Lenders prefer that luxury homebuyers have larger reserves in case the property goes into foreclosure.

The location of the residence is also a factor when it comes to lending requirements. For example a piece of property in Manhattan Beach, California may be viewed differently than a similarly priced property in a harder-to-sell, rural area.

The 2014 Conforming Loan Limits for California Counties are as Follows for a single family residence:

Alameda County, California Jumbo Loan Limit $625,500

Alpine County, California Jumbo Loan Limit $463,450

Amador County, California Jumbo Loan Limit $417,000

Butte County, California Jumbo Loan Limit $417,000

Calaveras County, California Jumbo Loan Limit $417,000

Colusa County, California Jumbo Loan Limit $417,000

Contra Costa County, California Jumbo Loan Limit $625,500

Del Norte County, California Jumbo Loan Limit $417,000

El Dorado County, California Jumbo Loan Limit $474,950

Fresno County, California Jumbo Loan Limit $417,000

Glenn County, California Jumbo Loan Limit $417,000

Humboldt County, California Jumbo Loan Limit $417,000

Imperial County, California Jumbo Loan Limit $417,000

Inyo County, California Jumbo Loan Limit $417,000

Kern County, California Jumbo Loan Limit $417,000

Kings County, California Jumbo Loan Limit $417,000

Lake County, California Jumbo Loan Limit $417,000

Lassen County, California Jumbo Loan Limit $417,000

Los Angeles County, California Jumbo Loan Limit $625,500

Madera County, California Jumbo Loan Limit $417,000

Marin County, California Jumbo Loan Limit $625,500

Mariposa County, California Jumbo Loan Limit $417,000

Mendocino County, California Jumbo Loan Limit $417,000

Merced County, California Jumbo Loan Limit $417,000

Modoc County, California Jumbo Loan Limit $417,000

Mono County, California Jumbo Loan Limit $529,000

Monterey County, California Jumbo Loan Limit $483,000

Napa County, California Jumbo Loan Limit $592,250

Nevada County, California Jumbo Loan Limit $477,250

Orange County, California Jumbo Loan Limit $625,500

Placer County, California Jumbo Loan Limit $474,950

Plumas County, California Jumbo Loan Limit $417,000

Riverside County, California Jumbo Loan Limit $417,000

Sacramento County, California Jumbo Loan Limit $474,950

San Benito County, California Jumbo Loan Limit $625,500

San Bernardino County, California Jumbo Loan Limit $417,000

San Diego County, California Jumbo Loan Limit $546,250

San Francisco County, California Jumbo Loan Limit $625,500

San Joaquin County, California Jumbo Loan Limit $417,000

San Luis Obispo County, California Jumbo Loan Limit $561,200

San Mateo County, California Jumbo Loan Limit $625,500

Santa Barbara County, California Jumbo Loan Limit $625,500

Santa Clara County, California Jumbo Loan Limit $625,500

Santa Cruz County, California Jumbo Loan Limit $625,500

Shasta County, California Jumbo Loan Limit $417,000

Sierra County, California Jumbo Loan Limit $417,000

Siskiyou County, California Jumbo Loan Limit $417,000

Solano County, California Jumbo Loan Limit $417,000

Sonoma County, California Jumbo Loan Limit $520,950

Stanislaus County, California Jumbo Loan Limit $417,000

Sutter County, California Jumbo Loan Limit $417,000

Tehama County, California Jumbo Loan Limit $417,000

Trinity County, California Jumbo Loan Limit $417,000

Tulare County, California Jumbo Loan Limit $417,000

Tuolumne County, California Jumbo Loan Limit $417,000

Ventura County, California Jumbo Loan Limit $598,000

Yolo County, California Jumbo Loan Limit $474,950

Yuba County, California Jumbo Loan Limit $417,000

For more information on jumbo loan limits in California or to determine whether a jumbo loan is right for you, give one of our lending experts here at Wholesale Capital Corporation a call at 844-571-2777.

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