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In a dynamic and sought-after market like San Diego, leveraging financing can make all the difference in securing the home you’ve always envisioned. Whether you’re a first-time buyer or a seasoned investor, understanding and utilizing financing options effectively can transform your homeownership aspirations into reality.
Consulting with a knowledgeable real estate professional or financial advisor can further enhance your understanding of available financing options and empower you to make informed decisions on your journey to finding your dream home in San Diego.
Stay updated on the latest San Diego conforming loan limits set for 2024.
For a 1-unit property, the 2024 high-balance conforming loan limit reaches $1,006,250, while the “low-balance” limit stands at $766,550, delineating thresholds for loan terms and options.
Considering a loan between $766,550 and $1,006,250 for a 1-unit property? It falls within the high-balance conforming loan category, with slightly different terms than those under the $766,550 low-balance limit. With a high-balance loan, a 5% down payment suffices, and the entire amount can be gifted.
Opting for a loan below $766,550 means enjoying a lower interest rate and payment, with a 3% down payment, fully gift-able.
If you are searching to leverage more financing for multi-family properties for sale in San Diego, here are the new conforming loan limits for properties with 2 to 4 units:
- 2-unit property – $1,288,200
- 3-unit property – $1,557,150
- 4-unit property – $1,935,150
Ready To Get Started?
Call The Moss Team today to discuss your real estate goals. We’re here to help answer your real estate questions. We offer personalized guidance that suits your needs.
Let’s discuss how we can help you leverage these higher conforming loan limits, and gain insights into creative home buyer strategies that will help you get the keys to your new home.
