Riverside & San Bernardino County FHA Loan Limits for 2016

The FHA loan limits for Riverside County and San Bernardino County were raised for 2016, due to significant home-price gains in the area. But don’t get too excited. They weren’t raised by much.

The maximum insurable amount for a Federal Housing Administration loan rose by $1,150 from 2015 to 2016. The new FHA limit for a single-family home in Riverside or San Bernardino County is $356,500.

Here’s what you need to know, at a glance:

  • The old FHA loan limit (2015): $355,350
  • The new FHA loan limit (2016): $356,500
  • The dollar-amount increase: $1,150

Home buyers within these counties who plan to use an FHA loan to buy a house in 2016 could qualify for an additional $1,150 of financing, without exceeding the maximum limit for government-insured loans.

It’s a small adjustment, but an adjustment nonetheless. As a result, any San Bernardino and Riverside County mortgage lenders who publish FHA loan limits (in print or online) should update their information to reflect these new amounts.

FHA Loan Limits for All Property Types

Here are the 2016 FHA loan limits for San Bernardino County and Riverside County:

1-Family 2-Family 3-Family 4-Family
$356,500 $456,350 $551,650 $685,550

In this context, a “1-family” home is a regular single-family property. In contrast, a “2-family” home is a duplex-style unit with two separate residents living in it, and so on.

How they are calculated: The FHA loan limit for a regular single-family house is based on median home prices for the county in which the property is located. The limits for two-, three-, and four-unit properties are simply fixed multiples of the one-unit amount.

Applies to All Cities in Riverside & San Bernardino County

FHA loan limits are established at the county level. This means different counties have different mortgage caps, and they range from $271,050 to $625,500 in most areas. This also means that the 2016 loan limits shown above apply to all cities within Riverside and San Bernardino County. In fact, these maximum mortgage amounts apply to the entire Inland Empire metropolitan area.

  • The 2016 FHA loan limits listed above affect all cities in San Bernardio County, including (but not limited to) Fontana, Rancho Cucamonga, Ontario, Victorville, Rialto, Hesperia, etc.
  • They also apply to all cities and towns located within Riverside County, including (but not limited to) Moreno Valley, Corona, Murrieta, Temecula, Jurupa Valley, Indio, Menifee, Hemet, etc.

If you have questions about these limits or how they are set, please refer to the Department of Housing and Urban Development website at HUD.gov. If you have other questions about the FHA loan program in 2016, you can send them to answers@hud.gov.

Finding FHA Mortgage Lenders in the Inland Empire

FHA loans are insured by the government through the Federal Housing Administration. But the government does not lend money directly to borrowers. They simply insure the loan up to a certain amount. If you want to apply for this program, you must find an FHA approved mortgage lender that serves Riverside County or San Bernardo County.

The good news is that there are plenty of these lenders. FHA loans are very popular among home buyers these days (especially first-time buyers), so many mortgage companies offer them. In fact, you could even apply with a company operating out of another state, as long as they are licensed to originate loans in California.

To find a list of Riverside or San Bernardino FHA mortgage lenders, refer to the HUD website. They maintain a database of all approved lenders in the area. Here is the specific page you want: http://www.hud.gov/ll/code/llslcrit.cfm