The Federal Housing Administration (FHA) announced last week that 14 California counties would receive the maximum federal government loan limit of $729,500, which was previously $362,790. Del Norte County's loan limit was increased from $249,000 to $311,250
Last week, Gov. Schwarzenegger met with U.S. Department of Housing and Urban Development Secretary Alphonso Jackson in Washington, D.C., to discuss raising federal loan limits permanently. Schwarzenegger sent a letter earlier this year to Congress urging the legislature to approve increased home mortgage loan limits.
The 14 counties with FHA loan limits raised to the maximum level today are: Alameda, Contra Costa, Los Angeles, Marin, Monterey, Napa, Orange, San Benito, San Francisco, San Mateo, Santa Barbara, Santa Clara, Santa Cruz and Ventura. Limits in other counties across the state were raised today, but not to the maximum level of $729,500.