Temecula Valley/Riverside County 2021 Loan limits for Conventional, FHA, VA,
- $548,250 Conventional loan limits for 2021
- $477,250 FHA loan limits for 2021
- No Limits VA loan limits for 2021
Loan limits for Riverside county tend to increase every year, so why is this good news for home buyers and sellers? Home prices have been rising, and due to the rise in home pricing, this often makes it hard for homebuyers to find the right home due to loan limits being too low, so an increase in loan limits will open doors for anyone looking to make a move. The increase in loan limits for Riverside county is also excellent news for sellers because, with these increased loan limits, buyers will have more purchasing power allowing home prices to stabilize in some cases or increase in others.
Conventional loan limits for 2021 are now $548,250 compared to 2020 $510,400 giving conventional buyers $37,850 more purchasing power
FHA’s new loan limits for 2021 are now $477,250 compared to 2020 $442,750, which increases $34,500 of buying power.
VA Loans, There will still be no loan limits on VA loans in 2021, so no change from 2020, which is fantastic for VA buyers.
If you have been thinking about buying or selling real estate, 2021 looks to be another great year with these new loan limits for Riverside county. Feel free to contact us if you have any questions or if you would like to get the process started for homeownership. Michael & Anita Marchena are local Realtors located in Temecula, California 92592, but service all of Temecula Valley, including but not limited to Temecula, Murrieta, Menifee, Winchester, French Valley, Wildomar, Hemet, San Jacinto, Perris, Lake Elsinore, Corona, and all surrounding areas.
Start working with Temecula Valley Local Real Estate Experts
Are you thinking about buying or selling? Then contact your local Realtor’s Michael & Anita Marchena today at 951-392-8511
Do you need to start the loan process to purchase a home?
Contact our preferred lender Tobie Love at (951) 704-1988 to see what you qualify for, and let’s get you into a new home in 2021.