Pilot Hill, 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 Pilot Hill, loan amounts may not exceed the limits above.
Local Loan Limits — Pilot Hill, 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 Pilot Hill, California range from $763,600 for 1 living-unit homes to $1,468,500 for 4 living-units. Conventional Loan Limits in Pilot Hill are $766,550 for 1 living-unit homes to $1,474,400 for 4 living-units. The 2024 Home Equity Conversion Mortgage (HECM) limits in Pilot Hill 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.
Pilot Hill has high cost limits to compensate for above average housing prices. Limits in Pilot Hill are above the 2024 national floor.
FHA Home Appraisal in Pilot Hill
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 Pilot Hill. If you need a home inspector, click here to find FHA-approved inspectors in Pilot Hill. You can also save time by looking for FHA Condos that have already been approved.
VA Loan Limits in Pilot Hill
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 Pilot Hill, CA 2024 VA Loan Limit is $766,550
Learn more about VA Loans and how to qualify »
Additional Resources
How to qualify for an FHA Loan in Pilot Hill, California?
The minimum loan amount in Pilot Hill is $5,000 dollars and may go up to $1,468,500 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 Pilot Hill.
Additionally, your loan amount cannot exceed the value of home you are purchasing. Learn more about FHA Loan Requirements.
Cities and ZIP Codes in El Dorado County
The FHA Limits, VA Loan Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to El Dorado County, California which includes the following cities: El Dorado Hills, Placerville, Shingle Springs, South Lake Tahoe, Pollock Pines, Diamond Springs, Camino, Rescue, El Dorado, Cool, Garden Valley, Georgetown, Somerset, Pilot Hill, Greenwood, Grizzly Flats, Mount Aukum, Lotus, Tahoma, Coloma, Twin Bridges, Echo Lake, and Kyburz.
El Dorado County loan limits also apply to the following ZIP codes: 95762, 95667, 95682, 96150, 95726, 96151, 95619, 95709, 95672, 95623, 95614, 96158, 96156, 95633, 95634, 95684, 95664, 95635, 96155, 95636, 95656, 95651, 96142, 95613, 95735, 95721, 96154, 95720, and 96157.
Citation
Data sourced from the Department of Housing and Urban Development (HUD.GOV). If you notice an error on this page, please contact us.
