2023 California Conforming Loan Limits

California’s 2023 Conventional Conforming County Loan Limit

For 2023, the FHFA (Federal Housing Finance Administration) set the baseline conforming loan limit for 1-unit properties at $726,200 for Conventional financing (Fannie Mae & Freddie Mac) and up to $1,089,300 in California high-cost counties.

What is a Conforming loan? A conforming home loan must meet, or “conform” to certain criteria or guidelines set forth by Government Sponsored Entities (GSEs) Freddie Mac and Fannie Mae. The loan amount is just one of those criteria needed to be classified as a ‘conforming’ loan.

What is a High Balance or ‘high-cost’ county loan limit? Loan limits are derived from median home prices in a particular county and have a ceiling of 150% of the baseline mortgage limit. Loan amounts between $726,200 and $1,089,300 are referred to as agency ‘High Balance’ or ‘Super Conforming’ loans because they exceed the baseline limit.

You can view a list of the 2023 county loan limits here.

2023 FHA County Loan Limits in California

FHA determines its 2023 maximum county mortgage limit differently than FHFA.

The FHA (Federal Housing Administration) is required to set a single-family floor and ceiling loan limit range, which is based on 65% to 150% of the national conforming loan limit. The FHA’s 2023 current floor is $472,030 and the ceiling is $1,089,300.

FHA High Balance Jumbo loan limit – California FHA loan amounts in high-cost counties between $472,030 and $1,089,300 are referred to as FHA jumbo loans or FHA high balance loans.