FHA loan limits in Santa Barbara county

FHA loan limits vary nationwide.  The county of the property can be a determining factor of  FHA loan limits. These limits are set by the median home prices in the county.  Conventional loan limits changed in the last quarter of 2018 and were increased compared to the what was set.  FHA loans limits were adjusted as well.  Santa Barbara county has one of the highest limits when compared to the rest of the country.  In some cases 40% to 50% higher, again, this is due to the median income of the real estate in Santa Barbara.

Loan limits for 1-4 unit single family residences in Santa Barbara county are as follows:

$653,200 is the loan limit for one-unit properties with FHA financing

$836,200 is the loan limit for two-unit properties with FHA financing

$1,010,800 is the loan limit for three-unit properties when using an FHA loans

$1,256,150 is the loan limit for four-unit properties have a maximum FHA loan limit of  

Properties with higher median prices may make it difficult for a borrower that is planning to finance using an FHA mortgage.  Increasing the down payment amount is the easiest way of getting around this. 

Contact me directly for any questions regarding FHA financing.