New loan limits have been announced for 2014. These limits apply to all FHA and High Balance Loans closed January 1, 2014 through December 31, 2014 in Sacramento, Placer and El Dorado Counties. Each county has their own loan limits for FHA and High Balance Loans. Please contact me Kathleen@BeckHomeLoan.com for your county’s FHA and High Balance Loan limits.
The FHA loan limit and High Balance loan limit in Sacramento, Placer, and Eldorado counties will be $474,950 for a single family residence. The FHA loan limit in Sacramento, El Dorado and Placer counties have increased from $417,000 to $474,950 starting January 1, 2014. On the other hand the High Balance Conforming loan limits maximum balances have decreased to $474,950 for single family homes.
Fortunately, there are Jumbo loans readily available for qualified borrowers in the market place today. In the meantime, the standard conforming loan limit for Fannie Mae and Freddie Mac loans will remain at $417,000 for single family homes.
Please contact me directly with any questions you may have.
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