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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/phatmegz/public_html/blog/wp-includes/functions.php on line 6114As of January, 1, 2019, all mortgage lenders in California will recognize the new conforming loan limit of $726,25 for Orange County and other high cost counties throughout the state. Additionally, FHA has made a similar move and raised their own loan limits as well.<\/p>\n
\u00a0This is very good news for prospective home buyers who want to use this program to purchase a home in 2019.<\/p>\n
New FHA Loan Limit for Orange County Area: $726,525<\/strong> Most counties in California will have higher FHA and conforming loan limits. The only county in the state where the loan limit will be unchanged from 2018 is Yuba.<\/p>\n \u00a0<\/p>\n An recent excerpt from a press release by Housing and Urban Development: The new loan limits will be eligible for FHA loans<\/a> with case numbers designated on or after January 1, 2019. (Loan limits are adjusted each year when rising home prices merit the increase.)<\/p>\n
In North and South OC, the conforming and FHA loan limits<\/a> for a single-family home will rise to $726,525 in 2019. That means you can buy a home for $752,800 with just 3.5% down ($26,275). The same applies to L.A. County as well as the two tend to have the same limits. San Diego moved up to $690,000. These three Southern California counties will join the higher loan limits that the San Francisco Bay area, because of higher home values in the Orange County area.<\/p>\n
<\/strong>\u201cThe Federal Housing Administration today announced the agency\u2019s new schedule of loan limits for 2019, with most areas in the country to experience an increase in loan limits in the coming year.\u201d<\/p>\n