FHA High Balance or FHA Jumbo? What is the difference?

FHA High Balance or FHA Jumbo?  What is the difference?

FHA High Balance or FHA Jumbo?  What is the difference?  (January 2023 update) The answer is simple: None.   FHA loans that are over $726,200 and up to the county FHA Loan Limits are called both FHA Jumbo and FHA High Balance loans.   These are available up to $1,089,300 in areas such as Los Angeles, , Orange County, San Jose, San Francisco, and most of the Bay Area.  San Diego FHA Jumbo's go up to $977,500, while Seattle, Tacoma, King, Pierce,  and Snohomish counties can borrow up to $977,500 on a FHA Jumbo or FHA High Balance loan.

Back in 2008,  when Congress first approved higher loan limits for FHA Loans, I wrote an article about them here to reduce the confusion - FHA Jumbo or FHA Stimulus size.  Now they are simply called FHA Jumbo or FHA High Balance loans. 

The FHA Jumbo or FHA High Balance loan allows home buyers to get into homes with much less cash versus Fannie Mae or Freddie Mac "High Balance" or "agency jumbo" or "Conforming Jumbo" loans.  You may notice the naming confusion with the Conforming Jumbos too!   These loans require 5% down payment for the higher loan amounts over $726,200.   They no longer require much higher fico scores to qualify, with FHA Jumbo loans starting as low as 580. FHA loans look at the overall credit character of your file, not just your fico.  (and require just 3.5% down payment vs the Fannie Mae minimum of 5% down for high balance loan amounts. 

Give us a call or text at 760-752-4480 direct, ask for Brian Skaar to see if this is the right loan for your next home.  Visit us on the web at www.vandykfunding.com      

VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at www.vandykfunding.com or call Brian Skaar at 760-752-4480 for help with your FHA loan. We offer FHA,  FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, Conforming & Jumbo Loans.

We serve the following areas for VA, FHA and Conventional loans: California, Florida,  Arizona, Washington, Texas, Georgia,   San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, Santa Ana, Seattle, Washington, Bellevue, Kirkland, Redmond, Lynnwood, Olympia, Tacoma, Puyallup, Buckley, Auburn, Kent, Federal Way, Seatac, San Francisco, San Jose, Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta, Southern California, Northern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County. VanDyk Mortgage offers FHA, VA, & Conventional loans in addition to FHA Jumbo, VA Jumbo, and Conforming Jumbo loans (aka FHA High Balance, VA High Balance, and Conforming High Balance).

 VanDyk Mortgage is a VA Direct Lender (since 1987) offering VA Loans such as VA purchase loans, VA Streamline Refinance, VA IRRRL, VA Refinance Loans, VA Mortgages of all types.  As a Government Direct Lender, VanDyk Mortgage is also a HUD Full Eagle FHA Direct Endorsement Underwriter,  ie  FHA Direct Lender offering FHA Loans such as FHA Purchase loans, FHA Refinance, FHA Streamline Refinance, FHA loans, FHA Jumbo, FHA Jumbo Purchase, FHA Jumbo Refinance, FHA Jumbo Streamline Refinance, FHA mortgages of all types.   We offer FHA & VA loans in California, Georgia, Texas, Washington, & More.  Visit us at www.vandykfunding.com to get started or just find out more.