Tags: 2023 High-Cost SANTA CRUZ-WATSONVILLE, CA
This page contains the Conforming, FHA, VA, and HECM Loan Limits for each housing type in Santa Cruz County.
Return to the state page to see county affordability charts for California. Click a county on the map to visit a different county.
Loan Limit Tables Santa Cruz 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 2023 loan limits for Santa Cruz 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.
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.
VA Loan Limits
If you qualify, veterans loans allow you to buy a house with zero money down.
All Home Sizes
HECM Loan Limits
Home Equity Conversion Mortgages (HECM) allow seniors to convert home equity into cash for unexpected expenses.
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 Santa Cruz County.
The last survey of home prices in Santa Cruz County was conducted in 2022 and found the median home price was $1,050,000.
Loan Limits Summary
Based on the median home price, Santa Cruz County was determined to be a "high-cost" area. Accordingly, 2023 loan limits in Santa Cruz County are set equal to the national ceiling limit.
The 2023 conforming loan limit for a single-family home in Santa Cruz County, CA is $1,089,300. The FHA loan limit for a single-family home is $1,089,300.
This is an 10.9% increase over the 2022 loan limits which were set at $970,800 for a single-family conventional.
The tables above provide a complete breakdown of 2023 loan limits in Santa Cruz County, CA for FHA Loans, Conforming Loans, VA Loans, and HECM Reverse Mortgages.
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 Santa Cruz County, California: Watsonville, Santa Cruz, Aptos, Scotts Valley, Soquel, Capitola, Los Gatos, Boulder Creek, Freedom, Felton, Ben Lomond, Davenport, Brookdale, and Mount Hermon.
These loan limits also apply to the following ZIP codes in Santa Cruz County, California: 95076, 95060, 95062, 95003, 95066, 95073, 95010, 95033, 95006, 95019, 95065, 95018, 95005, 95077, 95001, 95063, 95061, 95064, 95067, and 95017.
Santa Cruz County, CA is considered part of the following metro area: SANTA CRUZ-WATSONVILLE, CA.
More on Santa Cruz County, CA
Want to learn more about Santa Cruz County, CA? See Fair Market Rents in Santa Cruz County, CA to view 40th percentile FMRs and SAFMRs by ZIP code or click here to find a Public Housing Authority near Santa Cruz County, CA who can help with finding affordable housing near you.
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FHA Loan limits are published by the HUD. Conforming loan limits are published by Federal Housing Finance Agency (FHFA).
Last updated on January 2, 2023