"$850 w/ 3.5 down, omg?!" 2021 California loan limits announced

[Chris Mason]

Every year around Thanksgiving, the Real Estate Gods announce the new conforming loan limits for the year to follow. Whoop whoop!

Source: https://www.fhfa.gov/Media/Pub...

The following chart assumes that DTI, FICO scores, closing costs, etc, are not a limiting factor. It assumes that the only limiting factors are those loan limits. It's not a commitment to lend or any of that, it's just for real estate and mortgage professionals in California to reference while helping their clients, not intended for consumers to read or reference. If you aren't a mortgage or real estate professional, please stop reading this post!

Single family homes, townhomes, and condos, are in gray. 2-4 unit properties are on the right.

Here you are... print this, and tack it up somewhere in your office, put it in your wallet, your purse, what have you:

In the high balance range for high cost of living counties, It's accurate for major Bay Area counties like Alameda (thus, Oakland), San Francisco, Contra Costa, Santa Clara (thus, San Jose), and so on, as well as Orange and LA Counties in SoCal. It's not accurate for Solano County, San Diego, Sacramento, Sonoma, Napa, and a few others. 

Also note that for your clients that want to put 3.5% down on a $1.6m fourplex that's 2 blocks away from Apple or Google headquarters.... if it was as easy as that, we'd all already have done it, myself included. Those folks are mostly delusional, move on to people more grounded in reality. :)