San Diego Real Estate Loan Data – 2014
The VA loan amounts for a San Diego real estate loan have increased to $527,500 for 2014. This is an increase from the previous San Diego home loans with no down payment of $500,000. The maximum VA loan for a San Diego house with a 25% down payment of $1,500,000 has not changed.
On the other hand, FHA has recently announced that it is lowering the maximum FHA loan amount effective January 1, 2014. This is a reduction from $697,500 from the previous San Diego home loan for single-family homeowners. The new maximum San Diego FHA loan for either a San Diego condo or San Diego single family home is now $546,250.
The facts for the maximum San Diego FHA multiple unit loans are now:
San Diego duplex loan = $699,300
San Diego 3 unit property loan = $845,300
San Diego 4 unit property loan = $1,050,500
(3-4 unit loans must debt carry)
So there you go, the good and the bad when it comes to San Diego real estate loans.
The best news is that San Diego real estate interest rates are still at a historical low. There may never be a better time than now to invest in a San Diego home or San Diego investment property. I can say that because Dave and I recently purchased our first San Diego multiple unit property in North Park, San Diego. I’m confident that our San Diego real estate purchase will generate an income for us well into our retirement and for now, according to my tax consultant, the units provide a bit of a tax write-off. On a personal note, the 2-bedroom North Park unit provides a lovely home for our daughter, Ashlie.
If you or someone you know and care about is wondering if they can qualify for a San Diego real estate purchase, call me, Kim at 619-741-0111, we can talk about your exact circumstances. Isn’t it nice to know, you have someone in the San Diego real estate business who can provide you with accurate information?