Rates Up; $1.2MM Conforming or FHA Loan? Limits Are HIGHER for Units
Conforming and FHA Loan Limits are higher for multiple units. Many people forget this and assume they need to obtain harder to qualify for JUMBO financing for any loan over $625,500. This is not the case.
2014 Conforming and FHA High Balance Loan Limits for High Cost Counties (Bay Area):
One Unit: $625,500
Two Units: $800,775
Three Units: $967,950
Four Units: $1,202,925
NOTE: A $1.25 Million Owner Occupied Fourplex could be purchased with only 3.5% down with FHA financing.
Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646