FHA 203k loan program in San Diego County
WE are happy to let you know that we have two teamates in San Diego County with Henry Trulson and Will Johnson. Both are experienced home inspectors and FHA 203k consultants covering. Click on the basics and check out this entertaining and informative presentation of the 203k basics.
Loan limits for San Diego County till the end of the year.
| SAN DIEGO-CARLSBAD-SAN MARCOS, CA (MSA) | 41740 |
|
SAN DIEGO | 073 | CA | $697,500 | $892,950 | $1,079,350 | $1,341,350 | $400,000 | 11/19/2012 | CY2013 |
Why is this important? Well, for one thing it is a higher loan limit than the standard conventional loan amount of $417,000.
This home is a million dollar home that was a sale at $888,000 with repairs of $150,000 needed therefore the options were to pay all cash or get a loan of $697,500 and only have to come up with the difference of $340,500 and some closing costs to get in the same home. After improved value appraisal was about $1,250,000 as I recall.
You won't believe how many times per week I hear a Realtor tell me that the FHA 203k loan program doesn't provide enough money for the homes they sell.
It isn't about how much it costs for the home, it is all about getting a portion of it financed so they don't have to tie up all their money in a home.
San Diego or anywhere else people with money typically like keeping it somewhat fluid rather than tying it all up in one house.
In any case we are here to help you make that decision and we can help you find the lender who can close these loans most efficiently rather than have you choose and find they can't or never closed one before.
The secret of closing a 203k fast is using an experienced team of experts on your side. The seller will appreciate that fact as well. You know how they don't like delays. Your commission is on the line, why not close fast and get on to the next sale.
Neighboring counties
| MSA Name | MSA Code | Division | County Name | County Code |
State | One-Family | Two-Family | Three-Family | Four-Family | Median Sale Price | Last Revised | Limit Year |
| SANTA BARBARA-SANTA MARIA, CA (MSA) | 42060 | SANTA BARBARA | 083 | CA | $729,750 | $934,200 | $1,129,250 | $1,403,400 | $475,000 | 11/19/2012 | CY2013 |
| OXNARD-THOUSAND OAKS-VENTURA, CA (MSA) | 37100 | VENTURA | 111 | CA | $729,750 | $934,200 | $1,129,250 | $1,403,400 | $437,000 | 11/19/2012 | CY2013 |
| LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN D | 31100 | 31084 | LOS ANGELES | 037 | CA | $729,750 | $934,200 | $1,129,250 | $1,403,400 | $535,000 | 11/19/2012 | CY2013 |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA) | 40140 | SAN BERNARDINO | 071 | CA | $500,000 | $640,100 | $773,700 | $961,550 | $210,000 | 11/19/2012 | CY2013 |
| SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION | 31100 | 42044 | ORANGE | 059 | CA | $729,750 | $934,200 | $1,129,250 | $1,403,400 | $535,000 | 11/19/2012 | CY2013 |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA) | 40140 | RIVERSIDE | 065 | CA | $500,000 | $640,100 | $773,700 | $961,550 | $210,000 | 11/19/2012 | CY2013 |
| EL CENTRO, CA (MSA) | 20940 | IMPERIAL | 025 | CA | $325,000 | $416,050 | $502,900 | $625,000 | $128,000 | 11/19/2012 | CY2013 |
