Tags: 2021 High-Cost SANTA CRUZ-WATSONVILLE, CA
Loan Limit Tables Santa Cruz 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 Cruz 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 Cruz County.
The last survey of home prices in Santa Cruz County was conducted in 2020 and found the median home price was $822,000.
Loan Limits Summary
Based on the median home price, Santa Cruz County was determined to be a "high-cost" area. Accordingly, 2021 loan limits in Santa Cruz County are set equal to the national ceiling limit.
The 2021 conforming loan limit for a single-family home in Santa Cruz 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 Cruz 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 Cruz County, California: Watsonville, Santa Cruz, Aptos, Scotts Valley, Soquel, Capitola, Los Gatos, Boulder Creek, Freedom, Felton, Ben Lomond, Davenport, Brookdale, and Mount Hermon.
These loan limits also apply to the following ZIP codes in Santa Cruz County, California: 95076, 95060, 95062, 95003, 95066, 95073, 95010, 95033, 95006, 95019, 95065, 95018, 95005, 95077, 95001, 95063, 95061, 95064, 95067, and 95017.
Santa Cruz County, CA is considered part of the following metro area: SANTA CRUZ-WATSONVILLE, CA.
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