Tags: 2021 High-Cost SAN JOSE-SUNNYVALE-SANTA CLARA, CA
Loan Limit Tables Santa Clara County, CA
Loan Limits are the maximum amount of money allowed to be lent for a particular kind of loan. Different types of loans have different limits. Below are the 2021 loan limits for Santa Clara County, CA.
Conforming Loan Limits
Conforming loans must meet the guidelines set by Fannie Mae and Freddie Mac. If a mortgage exceeds the conforming loan limits then it is considered a jumbo loan.
FHA Loan Limits
FHA Loans are home mortgages insured by the Federal Housing Administration. FHA Loans let you get a home loan with a lower down-payment and relaxed credit score requirements.
Loan Limit Breakdown
Median Home Price
The Federal Housing Finance Agency (FHFA) conducts an annual survey to determine the median home prices in each county or metro area in the US. Median home price is then used to determine the loan limits in Santa Clara County.
The last survey of home prices in Santa Clara County was conducted in 2020 and found the median home price was $1,235,000.
Loan Limits Summary
Based on the median home price, Santa Clara County was determined to be a "high-cost" area. Accordingly, 2021 loan limits in Santa Clara County are set equal to the national ceiling limit.
The 2021 conforming loan limit for a single-family home in Santa Clara County, CA is $822,375. The FHA loan limit for a single-family home is $822,375.
This is an 6.9% increase over the 2020 loan limits which were set at $765,600 for a single-family conventional.
The tables above provide a complete breakdown of 2021 loan limits in Santa Clara County, CA for FHA Loans, Conforming Loans, VA Loans, and HECM Reverse Mortgages.
If you are interested in purchasing a home with a conventional or FHA loan, the next step is to talk to a real estate agent and find a lender.
Not all lenders are the same. Some will not do FHA loans while others specialize in it. Rates may vary between lenders so it is important to shop around.
Loan Limits on this page apply to the following cities in Santa Clara County, California: Milpitas, Cupertino, San Jose, Sunnyvale, Santa Clara, Gilroy, Campbell, Morgan Hill, Palo Alto, Saratoga, Mountain View, Los Gatos, Los Altos, San Martin, Stanford, Alviso, Coyote, New Almaden, Redwood Estates, and Mount Hamilton.
These loan limits also apply to the following ZIP codes in Santa Clara County, California: 95035, 95014, 95123, 95127, 94087, 95051, 95111, 95020, 95122, 95125, 95124, 94086, 95148, 95008, 95037, 95116, 95136, 95132, 95112, and 94303.
Santa Clara County, CA is considered part of the following metro area: SAN JOSE-SUNNYVALE-SANTA CLARA, CA.
Other counties in the same metro area are: San Benito County, CA.
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