AN is correct $697,500 for San Diego county limit for a single family home/condo.
2 to 4 unit properties have higher limits.
LA-ORANGE county are $729,750 and higher for multi unit..as well as other counties.
I dont have the exact stats, but recall reading that something like 50% of recent CA purchases are FHA…it’s pathetic!
Some people are foolishly getting FHA loans when they qualify for better/cheaper financing.
Others are being pushed into FHA on the advice of a realtor/mortgage salesperson, when they should be told that they shouldn’t be buying a house.
The losses from FHA may be beyond belief. They are disguising the fraud by refinancing homes without appraisals. (If they can keep a borrower paying, they don’t care how much they owe OR how upside down they are)
When 100% financing was available a few years ago via 80/20, FHA loans weren’t very popular. They have skyrocketed the past couple of years as the market has declined. It’s a recipe for disaster that the taxpayer will be picking up the tab for.
