FHA Mortgage Rates
Choose from Refinance lenders in California for FHA 30-year mortgage rates
The loan amounts for Federal Housing Administration ( FHA ) mortgages — known by lenders as 203(b)mortgages (one- to four-family owner-occupied properties) — vary according to whether or not you’re in a “high cost” area.
In fact, the loan limits are actually set buy a formula, based upon the median home price in each county. With more liberal qualification and downpayment rules, an FHA-backed loan might be a perfect fit for your circumstance. You can find FHA loan limit at https://entp.hud.gov/idapp/html/hicostlook.cfm
FHA loan limits for California
FHA Loans are government insured loans from the Federal Housing Administration and are an attractive option for homebuyers who want to refinance.
For California, 47 counties have a FHA loan limit that ranges from $271,050 to $598,000. The remaining 11 counties are at $625,500. FHA and VA offer higher conforming loan limits in some counties.
As of January 1, 2014, HUD approves new lower loan limits to take effect for FHA single-family loans. The current standard loan limit for areas where housing costs are relatively low will remain unchanged at $271,050. The new national-ceiling loan limit for the very highest cost areas will be reduced from $729,750 to $625,500. See the chart below for loan limits in your county.