This page includes the 2024 conforming loan limits for San Diego County, with some additional commentary about how and why these caps are set. Home loans that exceed the maximum amounts shown below are considered “jumbo” mortgages.
At a glance: The current single-family conforming loan limit for most counties in San Diego County is $1,006,250.
The table below shows conforming loan limits for San Diego County, and for all four property types. Note: a “1-unit” property is a single-family home with one resident. The “2-unit” column applies to duplex-style properties with two separate residents, and so on. If you’re buying a single-family home or condo in San Diego County, refer to the “1-unit” conforming loan limit column.
How These Limits Are Set
San Diego County conforming loan limits are determined by the Federal Housing Finance Agency (FHFA). The Housing and Economic Recovery Act of 2008 (HERA) requires the FHFA to monitor and track average home prices in the U.S., and to annually adjust the baseline jumbo loan limit as needed to reflect changes in national home values.
In other words, if prices go up considerably in a certain county, FHFA may increase the corresponding loan limits to keep pace with rising home values. That’s what happened from 2022 to 2023. Conforming limits are usually set at 115% of the median home price for each area, though they can exceed this level in some high-cost areas.
The 2024 conforming limit for most counties in San Diego County is $1,006,250.
In recent years, FHFA has used the median home values estimated by the Federal Housing Administration (FHA), which is part of HUD. So there are several federal housing agencies involved in determining loan limits.
Check out our mortgage loan limit tool for conventional, FHA, and VA loans.
Why They Were Increased for 2024
We predicted that federal housing officials would increase the Seattle jumbo loan threshold in response to significant home-price gains that occurred during the year. That prediction turned out to be accurate. In fact, the FHFA raised limits across most of the country.
So, the vast majority of counties across the U.S. will see higher caps in 2024, compared to 2023. Home prices nationally rose by an average of around 2% during 2023. In San Diego County, the median house value rose by around 10.5%. That is why we are seeing higher San Diego County conforming loan limits in 2024.
Have Questions About Mortgages in San Diego County?
If you’re wondering about the eligibility requirements to get a home loan in San Diego County, we can help. Sammamish Mortgage offers a variety of mortgage programs for home buyers and homeowners in San Diego County, including FHA, VA and conventional, and have been in the business since 1992. We can answer any questions you have about qualifying for a mortgage. We can also give you a rate quote based on the type of loan you need. Call us today to get the process started!