FHA High Balance Loans

FHA Jumbo Loans – Available up to $625,500 in high cost markets  (aka FHA High Balance Loans)

FHA Loans are able to accomodate more Homebuyers with lower down payment options for Purchasing a home, and also allows more Home Owners to Refinance than past decades. FHA Loans are available in High Cost Markets up to $625,500 and allow you to purchase a home with as little as 3.5% down payment, or refinance with 2.25% equity (97.75% LTV).

Areas in Los Angeles, San Francisco, Alameda, Contra Costa, San Mateo, much of the Bay Area, Monterey, San Benito, Santa Barbara, Orange County, Ventura County, etc are eligible up to the full $625,500.   San Diego is eligible for FHA Jumbo Financing up to $562,350, and the Seattle are up to $517,500.

FHA Jumbo Loans offer many benefits:

  • Low down payment requirement – 3.5%
  • More flexible credit guielines than conventional loans
  • Allow you to combine a first and second mortgage into one FHA Jumbo with no penalties for cash out
  • Higher loan amounts – up to $625,500 for single family homes and condo’s
  • Affordable Mortgage Insurance (vs private mortgage insurance)
  • Refinance options that Conventional loans do not offer (such as very low equity)

Check out the FHA Home Loan Limits for your County:

2015 FHA Loan limits for California