San Luis Obispo County, CA

2022 Loan Limits

Tags: 2022 Mid-Range SAN LUIS OBISPO-PASO ROBLES, CA

This page contains the Conforming, FHA, VA, and HECM Loan Limits for each housing type in San Luis Obispo County.

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Loan Limit Tables San Luis Obispo County, CA

Loan Limits are the maximum amount of money allowed to be lent for a particular kind of loan. Different types of loans have different limits. Below are the 2022 loan limits for San Luis Obispo County, CA.

Conforming Loan Limits

Conforming loans must meet the guidelines set by Fannie Mae and Freddie Mac. If a mortgage exceeds the conforming loan limits then it is considered a jumbo loan.

$805,000
home size icon 1 Single-Family
$1,030,550
home size icon 2 Duplex
$1,245,700
home size icon 3 Triplex
$1,548,100
home size icon 4 Quadplex

FHA Loan Limits

FHA Loans are home mortgages insured by the Federal Housing Administration. FHA Loans let you get a home loan with a lower down-payment and relaxed credit score requirements.

$805,000
home size icon 1 Single-Family
$1,030,550
home size icon 2 Duplex
$1,245,700
home size icon 3 Triplex
$1,548,100
home size icon 4 Quadplex

VA Loan Limits

If you qualify, veterans loans allow you to buy a house with zero money down.

$805,000
All Home Sizes

HECM Loan Limits

Home Equity Conversion Mortgages (HECM) allow seniors to convert home equity into cash for unexpected expenses.

$970,800
All Home Sizes

Loan Limit Breakdown

Median Home Price

The Federal Housing Finance Agency (FHFA) conducts an annual survey to determine the median home prices in each county or metro area in the US. Median home price is then used to determine the loan limits in San Luis Obispo County.

The last survey of home prices in San Luis Obispo County was conducted in 2021 and found the median home price was $700,000.

Loan Limits Summary

Based on the median home price, San Luis Obispo County was determined to be a "mid-range" area. Accordingly, 2022 loan limits in San Luis Obispo County are set above the national baseline and below the national ceiling limit.

The 2022 conforming loan limit for a single-family home in San Luis Obispo County, CA is $805,000. The FHA loan limit for a single-family home is $805,000.

This is an 12.9% increase over the 2021 loan limits which were set at $701,500 for a single-family conventional.

The tables above provide a complete breakdown of 2022 loan limits in San Luis Obispo County, CA for FHA Loans, Conforming Loans, VA Loans, and HECM Reverse Mortgages.

What's Next?

If you are interested in purchasing a home with a conventional or FHA loan, the next step is to talk to a real estate agent and find a lender.

Not all lenders are the same. Some will not do FHA loans while others specialize in it. Rates may vary between lenders so it is important to shop around.

Loan Limits on this page apply to the following cities in San Luis Obispo County, California: Paso Robles, Atascadero, Arroyo Grande, San Luis Obispo, Nipomo, Los Osos, Grover Beach, Templeton, Morro Bay, Pismo Beach, Cambria, Oceano, San Miguel, Cayucos, Santa Margarita, Shandon, Creston, Avila Beach, Harmony, and San Simeon.

These loan limits also apply to the following ZIP codes in San Luis Obispo County, California: 93446, 93422, 93420, 93401, 93444, 93402, 93405, 93433, 93465, 93442, 93449, 93428, 93445, 93447, 93451, 93423, 93430, 93453, 93406, and 93448.

San Luis Obispo County, CA is considered part of the following metro area: SAN LUIS OBISPO-PASO ROBLES, CA.

More on San Luis Obispo County, CA

Want to learn more about San Luis Obispo County, CA? See Fair Market Rents in San Luis Obispo County, CA to view 40th percentile FMRs and SAFMRs by ZIP code or click here to find a Public Housing Authority near San Luis Obispo County, CA who can help with finding affordable housing near you.

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Data Source

HUD Seal

FHA Loan limits are published by the HUD. Conforming loan limits are published by Federal Housing Finance Agency (FHFA).

Last updated on January 2, 2022