2024 California Conforming Loan Limits

2024 California Conforming Loan Limits

Key Topics In This Article: Loan Limits By County | Loan Limits Since 2015 | Conforming Loan Programs | Conforming vs. FHA

The Federal Housing Finance Agency (FHFA) has set the 2024 California conforming loan limit at $766,550 and up to a $1,149,825 loan limit in “high-cost” counties like Orange County, Los Angeles County, Santa Clara County, and San Mateo County.

What is a conforming loan? A conforming loan is a conventional home loan that “conforms” to the loan limits established by the Federal Housing Finance Agency and the underwriting guidelines of Fannie Mae and Freddie Mac.

2024 California Loan Limits By County

Here are the 2024 California conforming loan limits for all 58 counties. The Federal Housing Finance Agency (FHFA) annually updates its conforming loan limits. For comparison purposes, we also list the 2024 California FHA loan limits.

County2024 California Conforming
Loan Limit
2024 California FHA
Loan Limit
ALAMEDA$1,149,825$1,149,825
ALPINE$766,550$503,700
AMADOR$766,550$498,257
BUTTE$766,550$498,257
CALAVERAS$766,550$498,257
COLUSA$766,550$498,257
CONTRA COSTA$1,149,825$1,149,825
DEL NORTE$766,550$498,257
EL DORADO$766,550$763,600
FRESNO$766,550$498,257
GLENN$766,550$498,257
HUMBOLDT$766,550$498,257
IMPERIAL$766,550$498,257
INYO$766,550$508,300
KERN$766,550$498,257
KINGS$766,550$498,257
LAKE$766,550$498,257
LASSEN$766,550$498,257
LOS ANGELES$1,149,825$1,149,825
MADERA$766,550$498,257
MARIN$1,149,825$1,149,825
MARIPOSA$766,550$498,257
MENDOCINO$766,550$546,250
MERCED$766,550$498,257
MODOC$766,550$498,257
MONO$766,550$693,450
MONTEREY$920,000$920,000
NAPA$1,017,750$1,017,750
NEVADA$766,550$644,000
ORANGE$1,149,825$1,149,825
PLACER$766,550$763,600
PLUMAS$766,550$498,257
RIVERSIDE$766,550$644,000
SACRAMENTO$766,550$763,600
SAN BENITO$1,149,825$1,149,825
SAN BERNARDINO$766,550$644,000
SAN DIEGO$1,006,250$1,006,250
SAN FRANCISCO$1,149,825$1,149,825
SAN JOAQUIN$766,550$656,650
SAN LUIS OBISPO$929,200$929,200
SAN MATEO$1,149,825$1,149,825
SANTA BARBARA$838,350$838,350
SANTA CLARA$1,149,825$1,149,825
SANTA CRUZ$1,149,825$1,149,825
SHASTA$766,550$498,257
SIERRA$766,550$498,257
SISKIYOU$766,550$498,257
SOLANO$766,550$685,400
SONOMA$877,450$877,450
STANISLAUS$766,550$517,500
SUTTER$766,550$498,257
TEHAMA$766,550$498,257
TRINITY$766,550$498,257
TULARE$766,550$498,257
TUOLUMNE$766,550$498,257
VENTURA$954,500$954,500
YOLO$766,550$763,600
YUBA$766,550$498,257

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California Conforming Loan Limits Since 2015

Home values have increased over the last decade, and raising the conforming loan limits allows more people to qualify for the best available mortgage rates. The Federal Housing Finance Agency annually updates its California conforming loan limits.

Here are the California conforming loan limits since 2015:

2015 California Conforming Loan Limits

The California conforming Loan limit in 2015 was $417,000; in some high-cost counties, like Los Angeles and San Francisco, it was as high as $615,250 (source).

2016 California Conforming Loan Limits

The California conforming Loan limit in 2016 was $417,000 (the same as in 2015), and in some high-cost counties, like Los Angeles and San Francisco, it was as high as $625,500 (source).

2017 California Conforming Loan Limits

The California conforming Loan limit in 2017 was $424,100; in some high-cost counties, like Los Angeles and San Francisco, it was as high as $636,150 (source).

2018 California Conforming Loan Limits

The California conforming Loan limit in 2018 was $453,100; in some high-cost counties, like Los Angeles, Orange, and Santa Clara, it was as high as $679,650 (source).

2019 California Conforming Loan Limits

The California Conforming Loan limit in 2019 was $483,350; in some high-cost counties, like Los Angeles, Orange, and Alameda, it was as high as $726,525 (source).

2020 California Conforming Loan Limits

The California conforming loan Limit in 2020 was $510,400, and in some high-cost counties, like Los Angeles, Orange, San Mateo, and Alameda, it was as high as $765,600 (source).

2021 California Conforming Loan Limits

The California conforming loan Limit in 2021 was $548,250. In some high-cost counties, like Los Angeles, Orange, San Mateo, and Alameda, it was as high as $822,375 (source).

2022 California Conforming Loan Limits

The California conforming loan limit in 2022 was $647,200 for most counties, and in some high-cost counties, it’s as high as $970,800 (source).

2023 California Conforming Loan Limits

The 2023 California conforming loan limit is $726,200 for most counties, and in some high-cost counties, it’s as high as $1,089,300 (source).

2024 California Conforming Loan Limits

The 2024 California conforming loan limit is $766,550 for most counties, and in some high-cost counties, it’s as high as $1,149,825. (source).

Conforming Loan Programs

Conforming loan programs are the most popular home loan programs out there. Below we cover everything you need to know about the various conforming loan programs available to homebuyers and homeowners.

What Types Of Conforming Loans Are There?

The most popular C=conforming loans are the 30-year Fixed-Rate Mortgage (FRM) and the 15-year fixed-rate home loan. Here is a complete list of all the fixed-rate mortgage options.

  • 30-year fixed-rate
  • 25-year fixed-rate
  • 20-year fixed-rate
  • 15-year fixed-rate
  • 10-year fixed-rate

There are no fixed rate options below a 10-year fixed rate. Here are the Adjustable Rate Mortgage (ARM) options under the conforming loan program:

  • 5/1 Adjustable Rate Mortgage
  • 7/1 Adjustable Rate Mortgage
  • 10/1 Adjustable Rate Mortgage

The 10/1 ARM is the longest fixed-rate period under the conforming loan ARM program. All adjustable-rate mortgages are based on a 30-year time period.

The first number (for example, 5/1) is the number of years the interest rate is fixed, and the second number represents how often the rate adjusts after the fixed-rate period. The fixed-rate period is always at the beginning. So a 5/1 ARM:

  • The interest rate is fixed for the first five years and does not change.
  • For the first five years, your payment does not change
  • After the first five years, your rate adjusts once a year every year until year 30.
  • Your monthly payment adjusts once a year after the fixed-rate period.

Requirements For Conforming Loan

A lot goes into getting qualified for a conforming Loan, and the guide issued by Fannie Mae is over 1200 pages. We won’t go into everything; just the most essential areas you should be aware of as of January 1, 2024:

  • The minimum down payment for a purchase is 3.00%, and the minimum amount of equity in a home for a refinance is 3.00%.
  • Generally speaking, you need a credit score above 620 to obtain a conforming loan. Qualifying for scores below 700 becomes more difficult as you move further down.
  • The debt-to-income ratio should be 50% or lower.
  • Most conforming loans do not need liquid asset reserves; however, some do. You’ll need to show some liquid reserves if purchasing or refinancing a rental property. If you have a low credit score, a debt-to-income ratio above 45%, and are taking cash out, you’ll need to show some liquid reserves.

Is A Conforming Loan A Conventional Loan?

A conforming loan is a conventional loan; however, not all conventional loans are conforming loans.

One type of conventional loan that is not a conforming loan is specifically geared toward self-employed people. The bank statement conventional loan programs allow borrowers to use their bank statement deposits to prove income (rather than tax returns). You can learn more in our conventional home loan learning center.

Conforming Loans To Purchase A Home

The conforming loan program offers some great opportunities for those looking to purchase a home. From First Time Home Buyers to seasoned investors, conforming loans have low-interest rates at great terms.

You can put down as little as 3.00%, and the loan process for a conforming loan is very efficient as it allows for 2-3 weeks closing periods if the buyer and seller are in a rush to close quickly. Another great aspect of the conforming loan program is that you might get an appraisal waiver, which helps save on costs and speeds up the process if granted.

Conforming Loans To Refinance A Current Mortgage

When it comes to refinancing a mortgage in California, the conforming loan program is perhaps the most popular. Like purchases, you can get an appraisal waiver, and you can close fairly quickly due to every loan being underwritten by the AUS of Fannie Mae or Freddie Mac.

If you want things to move quickly, have your income documentation, mortgage statement, and homeowners insurance information ready to go before applying. California’s conforming loan limits have increased over the last twenty years, and that is expected to continue.

Conforming Vs. FHA Loans

We’ve touched on the main difference between the two programs (one conforms to Fannie Mae/Freddie Mac standards, and the other is backed by the U.S. government), and here we’ll touch on the differences between the two loan programs at the consumer level:

  • Conforming loans are best for those with credit scores above 700, and FHA home loans are great for people with credit scores below 700
  • Conforming loans can be used to purchase or refinance investment properties
  • If you put down 20% or have 20% equity in your home, then you will not have Mortgage Insurance with a conforming loan
  • FHA loans help those with small down payments/little equity who might not qualify under a conforming loan program
  • With FHA loans, you do not need liquid assets
  • FHA loans can only be used on primary homes; you can not purchase a rental property with an FHA loan.

And just like conforming loan limits in California, FHA has its own loan limits.

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Is A California Conforming Loan Right For You?

If you have a credit score above 700 and a debt-to-income ratio below 50%, then a conforming loan might be right for you even if you only have 3% down or 3% equity (if you’re refinancing).

conforming loans offer some of the best mortgage rates, and for those with less than 20% down (or equity), you’ll have a lower Mortgage Insurance (MI) cost.

In addition to the lower MI cost, you’ll be able to get rid of the MI, whereas, on an FHA loan, it’s permanent.

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Loan Officer Kevin O'Connor

About The Author

Loan Officer Kevin O'Connor has over 17 years of experience as a Mortgage Loan Originator and is a trusted resource for mortgage education and information. He's licensed by the state of California and the Nationwide Mortgage Licensing System. He has a top rating with the Better Business Bureau, Google, Yelp, and Zillow. You can contact him at 1-800-550-5538. CA DRE #01499872 / NMLS #247447