Paramount, 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 Paramount, loan amounts may not exceed the limits above.
Local Loan Limits — Paramount, 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 Paramount, California range from $1,149,825 for 1 living-unit homes to $2,211,600 for 4 living-units. Conventional Loan Limits in Paramount 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 Paramount 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.
Paramount has high cost limits to compensate for above average housing prices. Limits in Paramount are above the 2024 national floor.
FHA Home Appraisal in Paramount
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 Paramount. If you need a home inspector, click here to find FHA-approved inspectors in Paramount. You can also save time by looking for FHA Condos that have already been approved.
VA Loan Limits in Paramount
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 Paramount, 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 Paramount, California?
The minimum loan amount in Paramount 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 Paramount.
Additionally, your loan amount cannot exceed the value of home you are purchasing. Learn more about FHA Loan Requirements.
Cities and ZIP Codes in Los Angeles County
The FHA Limits, VA Loan Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to Los Angeles County, California which includes the following cities: Norwalk, Pacoima, South Gate, Hawthorne, Bell Gardens, Sylmar, Long Beach, La Puente, Los Angeles, Baldwin Park, Huntington Park, Bellflower, Reseda, Pomona, Rosemead, Pico Rivera, Lancaster, Palmdale, Lynwood, Montebello, Carson, Panorama City, Hacienda Heights, Cerritos, El Monte, Azusa, Granada Hills, Diamond Bar, Alhambra, North Hills, San Pedro, North Hollywood, Paramount, La Mirada, Wilmington, Rowland Heights, Walnut, Van Nuys, Canoga Park, Torrance, Compton, Gardena, Rancho Palos Verdes, Sun Valley, Winnetka, West Covina, Redondo Beach, Downey, Monrovia, Woodland Hills, South El Monte, Whittier, Manhattan Beach, Canyon Country, San Gabriel, Chatsworth, Temple City, Altadena, San Dimas, Monterey Park, Porter Ranch, Covina, Arcadia, Santa Clarita, La Verne, Pasadena, Claremont, Glendale, Valencia, Lakewood, Burbank, Inglewood, La Crescenta, Lawndale, Culver City, San Fernando, Newhall, Sherman Oaks, Northridge, Palos Verdes Peninsula, Studio City, Tarzana, Agoura Hills, Santa Monica, Calabasas, Encino, Glendora, Valley Village, South Pasadena, West Hills, Venice, Duarte, Tujunga, Harbor City, Pacific Palisades, Maywood, Castaic, La Canada Flintridge, West Hollywood, Beverly Hills, Marina Del Rey, Lomita, Hermosa Beach, Sunland, Stevenson Ranch, El Segundo, Mission Hills, Malibu, Artesia, San Marino, Santa Fe Springs, Hawaiian Gardens, Playa Del Rey, Littlerock, Sierra Madre, Signal Hill, Acton, Montrose, Topanga, Playa Vista, Avalon, Lake Hughes, Pearblossom, Llano, City of Industry, Bell, Toluca Lake, Dodgertown, Mount Wilson, Verdugo City, Universal City, and Valyermo.
Los Angeles County loan limits also apply to the following ZIP codes: 90650, 91331, 90280, 90250, 90201, 91342, 90805, 91744, 90011, 91706, 90044, 90255, 90706, 91335, 91766, 91770, 90660, 93536, 93550, 90262, 90026, 90640, 90022, 90745, 93535, 91402, 91745, 90703, 90042, 90019, 91732, 90066, 90034, 91702, 90003, 90004, 91344, 91765, 91801, 91343, 90731, 91605, 93551, 90723, 90638, 90744, 90037, 91748, 91789, 91406, 91304, 90503, 90047, 90001, 90221, 90247, 90275, 90063, 91352, 90006, 90813, 90065, 91405, 90046, 90025, 90016, 90220, 91306, 90027, 91790, 91767, 90278, 90501, 90808, 90018, 90032, 90241, 91606, 90043, 90815, 91016, 91367, 90242, 90505, 91733, 90002, 90605, 90023, 90266, 91387, 91776, 90277, 91311, 90604, 90806, 91780, 90045, 90049, 90033, 91401, 91001, 91773, 91754, 91326, 91722, 91006, 90810, 91350, 91750, 90504, 91104, 91711, 91205, 91107, 90031, 90804, 91007, 91355, 90807, 90029, 90036, 93552, 90712, 91351, 91505, 91601, 90301, 91791, 91214, 90803, 90260, 90230, 90059, 90802, 91340, 91206, 90020, 91321, 91423, 90606, 93534, 91803, 91325, 90601, 90274, 90713, 91792, 91746, 91604, 91356, 90039, 91354, 91301, 90064, 91768, 90005, 90405, 90062, 91302, 90024, 91316, 91364, 90057, 91741, 91755, 90249, 91607, 90008, 91030, 90041, 90746, 90222, 91307, 90302, 91724, 90035, 90291, 91010, 91042, 91740, 91504, 91324, 90304, 90007, 90403, 91731, 91403, 91775, 90240, 90710, 90272, 90270, 90038, 91103, 90028, 91384, 90061, 90303, 91011, 91106, 91303, 91202, 90602, 91201, 90732, 90048, 90069, 90210, 90292, 90717, 90603, 90404, 90254, 91040, 91501, 90068, 91436, 91390, 90715, 91411, 91381, 90245, 91506, 90502, 91345, 90814, 91602, 90012, 91723, 91208, 91101, 90232, 90265, 90701, 90212, 91108, 90670, 90305, 90017, 91204, 91203, 90015, 90716, 90402, 91105, 90293, 90040, 93543, 91024, 90248, 90211, 90755, 91207, 91502, 90077, 90056, 93510, 91020, 90067, 90290, 90401, 93591, 90013, 90094, 90010, 90014, 90704, 93539, 90058, 93532, 90801, 90009, 91802, 91769, 91109, 90021, 91380, 93590, 93553, 91747, 91413, 90251, 90707, 91392, 90295, 90748, 91510, 90406, 90078, 91017, 91793, 90081, 90651, 91209, 90224, 91357, 90071, 91778, 91734, 90213, 91386, 91008, 90231, 90267, 91031, 91409, 90209, 90510, 91788, 90637, 91322, 91333, 93544, 91353, 90733, 90714, 91365, 91225, 90809, 91715, 90239, 91313, 90294, 91066, 91416, 91337, 91102, 90202, 90749, 91376, 91396, 90051, 91309, 90607, 91012, 90608, 91412, 90086, 90711, 90702, 91615, 91341, 91327, 93584, 91025, 90411, 91221, 91346, 91308, 91226, 90264, 91394, 91009, 91503, 91077, 91426, 90093, 91117, 90853, 90308, 91614, 90050, 91003, 91395, 90076, 91041, 91328, 91610, 91125, 90030, 90052, 90053, 90054, 90055, 90060, 90070, 90073, 90074, 90075, 90079, 90080, 90084, 90087, 90089, 90090, 90091, 90095, 90223, 90233, 90261, 90263, 90296, 90306, 90310, 90311, 90312, 90407, 90408, 90409, 90410, 90506, 90507, 90508, 90509, 90609, 90610, 90639, 90652, 90661, 90662, 90671, 90734, 90747, 90822, 90831, 90832, 90840, 90844, 90846, 90895, 91021, 91023, 91043, 91046, 91114, 91115, 91116, 91118, 91121, 91124, 91129, 91182, 91188, 91210, 91222, 91224, 91305, 91310, 91329, 91330, 91334, 91371, 91372, 91383, 91385, 91393, 91404, 91408, 91410, 91495, 91507, 91508, 91521, 91522, 91523, 91603, 91608, 91609, 91616, 91617, 91714, 91716, 91735, 91749, 91756, 91772, 93563, 93586, and 93599.
Citation
Data sourced from the Department of Housing and Urban Development (HUD.GOV). If you notice an error on this page, please contact us.
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