Mount Hamilton, CA 2024 FHA Loan Limits
FHA Loan Limits
Single Family
Duplex
Tri-plex
Quad-plex
Federal Housing Administration (FHA) Loans are federally insured mortgages.
In Mount Hamilton, loan amounts may not exceed the limits above.
Local Loan Limits — Mount Hamilton, CA
FHA and conventional Loan limits vary based on the number of living-units on the property. FHA loans are only allowed on 1 to 4 living-unit properties. These 1 to 4 unit properties can be purchased with an FHA loan as long as the owner occupies one of the unit. Properties with over 4 units are considered commercial and do not quality for FHA or conventional loans.
Loan Limit Summary
Limits for FHA Loans in Mount Hamilton, California range from $1,149,825 for 1 living-unit homes to $2,211,600 for 4 living-units. Conventional Loan Limits in Mount Hamilton are $1,149,825 for 1 living-unit homes to $2,211,600 for 4 living-units. The 2024 Home Equity Conversion Mortgage (HECM) limits in Mount Hamilton is $1,149,825. HECM limit does not depend on the size of the home.
What are Conventional Loans?
Conventional loans (also called "conforming") are loans that conform to the requirements set by Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac buy home loans from lenders to provide liquidity. This allows lenders to continue lending to home buyers. Otherwise, banks might not have enough money on hand continue lending. Fannie and Freddie set strict standards for the types of loans they will buy.
Mount Hamilton has high cost limits to compensate for above average housing prices. Limits in Mount Hamilton are above the 2024 national floor.
FHA Home Appraisal in Mount Hamilton
To see if a home qualifies for an FHA loan, the property must be appraised by an approved FHA appraiser. Find FHA-approved appraisers in Mount Hamilton. If you need a home inspector, click here to find FHA-approved inspectors in Mount Hamilton. You can also save time by looking for FHA Condos that have already been approved.
VA Loan Limits in Mount Hamilton
VA Loans are similar to FHA Loans in that it allows you to buy a home with very little money down. However VA Loans are only available to veterans of the Armed Forces. With VA loans the Department of Veterans Affairs guarantees the loan on the veteran's behalf. The maximum the VA will guarantee is set to the same amount as the single-family Fannie/Freddie Loan Limit. So the Mount Hamilton, CA 2024 VA Loan Limit is $1,149,825
Learn more about VA Loans and how to qualify »
Additional Resources
How to qualify for an FHA Loan in Mount Hamilton, California?
The minimum loan amount in Mount Hamilton is $5,000 dollars and may go up to $2,211,600 depending on home size and loan type. In order to qualify for an FHA loan, you must be planning to live in the home. Although a loan can include some renovation costs, FHA loans cannot be used for real estate investments in Mount Hamilton.
Additionally, your loan amount cannot exceed the value of home you are purchasing. Learn more about FHA Loan Requirements.
Cities and ZIP Codes in Santa Clara County
The FHA Limits, VA Loan Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to Santa Clara County, California which includes the following cities: 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, Holy City, New Almaden, Redwood Estates, and Mount Hamilton.
Santa Clara County loan limits also apply to the following ZIP codes: 95035, 95014, 95123, 95127, 94087, 95051, 95111, 95020, 95122, 95125, 95124, 94086, 95148, 95008, 95037, 95116, 95136, 95132, 95112, 94303, 95120, 95129, 95121, 95070, 95050, 95118, 94040, 95128, 95131, 95126, 94043, 94306, 95117, 95032, 95054, 94024, 95133, 94022, 95135, 94085, 94089, 95138, 94301, 95134, 95110, 95030, 94041, 95130, 95119, 95139, 95046, 94305, 94304, 95021, 95038, 95002, 95015, 95151, 95031, 94088, 95159, 95036, 95161, 95150, 95011, 95055, 95113, 94309, 95109, 95173, 95164, 95056, 95156, 94042, 95153, 94039, 94023, 94302, 95157, 95052, 95158, 95009, 95154, 95152, 95160, 94035, 95013, 95026, 95042, 95044, 95053, 95071, 95101, 95103, 95106, 95115, 95140, 95141, 95155, 95170, 95190, 95191, 95192, and 95193.
Citation
Data sourced from the Department of Housing and Urban Development (HUD.GOV). If you notice an error on this page, please contact us.
