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California FHA mortgages are simple to qualify for because credit scores are not equated into underwriting. With refinancing allowed up to 96.5% virtually no equity is needed to modify or refinance your first mortgages.

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California FHA Loan Limits


California FHA Lenders Raise Mortgage Limits in High-Cost Counties of Southern and Northern California

Congress just announced that conforming and FHA loan amounts in California will remain at the same high levels in 2013. The Federal Housing Administration increased the mortgage limits to a maximum of $729,750 for fourteen high-cost areas in California, as the government began offering special assistance to homeowners. As stated in the recent economic-stimulus package, the FHA is required to help specific homeowners who have been suffering with rising adjustable rate ARM's. California FHA lenders said that the higher home loan limits also will apply to home mortgages purchased or guaranteed by government-sponsored mortgage companies Freddie Mac and Fannie Mae. If FHA rates in California remain this low you can expect the volume of government refinancing to soar in the ear to come.

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California counties such as Los Angeles and Orange will be eligible for the maximum limit, which will be increased from $362,790 to $729,750. FHA insures loans to protect lenders against mortgage failures. California counties that will be placed at FHA's new $729,750 maximum limit are Alameda, Contra Costa, Los Angeles, Marin, Monterey, Napa, Orange, San Benito, San Francisco, San Mateo, Santa Barbara, Santa Clara, Santa Cruz and Ventura.

Many homeowners in the Western States have benefited from government relief programs for people who have an underwater California mortgage. We can connect you with HARP lenders with the Home Affordable Refinance Program.

FHA insiders predicted that the raise in California loan limits would help nearly 33,000 homeowners. The new FHA mortgage limits will be in effect through the end of this year. FHA reported that there will be an "appeal process through which the new loan limits could be increased even more for counties that aren't now eligible for the $729,750 maximum, but none of the limits will be lowered," said Bill Glavin, special assistant for public affairs in the FHA's Commissioner's Office. The FHA appeals process could be announced, along with new loan limits for the rest of the country, as early as Thursday." From what we can see there are not going to be a lot of regions in the country except for California that are going to be at the maximum," Mr. Glavin said. Those who have applied for an FHA loan but haven't yet closed on it will be able to take advantage of the new limits. The new loan limitations would apply to existing homeowners seeking to refinance their conforming or subprime mortgage into a fixed rate loan insured by FHA.


FHA Mortgage Limits in California by County

County Name

Median Home Price

FHA Limit

Alameda County

$995,000

$729,750

Alpine County

438,000

547,500

Amador County

355,000

443,750

Butte County

320,000

400,000

Calaveras County

370,000

462,500

Colusa County

318,000

397,500

Contra Costa County

995,000

729,750

Del Norte County

249,000

311,250

El Dorado County

464,000

580,000

Fresno County

305,000

381,250

Glenn County

230,000

287,500

Humboldt County

315,000

393,750

Imperial County

260,000

325,000

Inyo County

350,000

437,500

Kern County

295,000

368,750

Kings County

260,000

325,000

Lake County

321,000

401,250

Lassen County

200,000

271,050

Los Angeles County

710,000

729,750

Madera County

340,000

425,000

Marin County

995,000

729,750

Mariposa County

330,000

412,500

Mendocino County

410,000

512,500

Merced County

378,000

472,500

Modoc County

125,000

271,050

Mono County

370,000

462,500

Monterey County

599,000

729,750

Napa County

615,000

729,750

Nevada County

450,000

562,500

Orange County

710,000

729,750

Placer County

464,000

580,000

Plumas County

328,000

410,000

Riverside County

400,000

500,000

Sacramento County

464,000

580,000

San Benito County

790,000

729,750

San Bernardino County

400,000

500,000

San Diego County

558,000

697,500

San Francisco County

995,000

729,750

San Joaquin County

391,000

488,750

San Luis Obispo County

550,000

687,500

San Mateo County

995,000

729,750

Santa Barbara County

615,000

729,750

Santa Clara County

790,000

72,9750

Santa Cruz County

719,000

729,750

Shasta County

339,000

423,750

Sierra County

228,000

285,000

Siskiyou County

235,000

293,750

Solano County

446,000

557,500

Sonoma County

530,000

662,500

Stanislaus County

339,000

423,750

Sutter County

340,000

425,000

Tehama County

250,000

312,500

Trinity County

200,000

271,050

Tulare County

260,000

325,000

Tuolumne County

350,000

437,500

Ventura County

599,000

729,750

Yolo County

464,000

580,000

Yuba County

340,000

425,000

   
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FHA Secure Refinance
 
   

With Congress and the Senate encouraging interest rate reductions again, FHA mortgage rates have fallen and homeowners finally able to find a fixed rate refinancing solution that makes their ARM disappear. Many mortgage lenders report lower mortgage rates for term refinancing and consumers are responding with home saving stories that helped them prevent foreclosures in many cases.

  Homeowners are offered fixed rate refinancing if they have an ARM with a rising payment that may help them qualify for a great loan if they were never late prior to their loan becoming adjustable.  
 
 

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