Conventional Loan Limits Changed Starting January 2018

As of January 2018, California conventional loan limits will be changing again. Due to the higher prices for homes in the state of California, especially around the coastal areas, this is much needed. Jumbo financing is very common, where loans can range from $800,000 – $1,500,000, but the qualifications can be very difficult when they are classified as jumbo financing, versus standard conventional financing. Raising the limits for conventional financing will open up a lot of first time home buyers, who might not qualify for a home loan. This will help out the majority of home buyers in the state of California, and should help the general real estate marketplace and price stability we are seeing today.

Units        Conforming Balance       High Balance

1                 $453,100                              $679,650

2                 $580,150                              $870,225

3                 $701,250                              $1,051,875

4                 $871,450                              $1,307,175