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2023 Conventional, FHA, VA Loan Limits2023 Riverside County Loan limits for Conventional, FHA, and VA loans


Riverside County – $644,000
(Max Purchase Price with 3.5% down = $667,355)


Riverside County – $726,000
(Max Purchase Price with 5% down = $764,420)


VA Loans: There will still be no loan limits on VA loans in 2023, so there will be no change, which is fantastic for VA buyers.

It’s that time of year again! New loan limits for 2023 were just announced at the end of November 2022

Riverside County loan limits tend to increase yearly, so why is this good news for home buyers and sellers? When loan limits are increased, it helps buyers to keep up with the rising home prices, so increasing the loan limits gives buyers more buying power. Still, on the flip side, this also raises home prices, putting more money in the seller’s pocket to help them move up or down by using their home’s equity. Some might ask if this is a bad thing; with inflation, it was expected for home prices to increase like everything else.

Start working with the Best Realtors in Temecula Valley, Michael & Anita Marchena.

If you or anyone you know has been considering buying or selling real estate, 2023 looks like another great year with these new loan limits for Riverside County. Feel free to contact us with any questions or want to start the process. 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.

Contact your local Realtor/Broker, Michael & Anita Marchena, today at 951-392-8511

Do you want to start the loan process to purchase a home? Temecula Valley Home Loan Specialist Tobie Love can help!

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 2022.

What do Riverside County loan limits mean when purchasing a home?

Riverside County, located in Southern California, is subject to loan limits when purchasing a home. These loan limits are set by the Federal Housing Finance Agency (FHFA) and are often referred to as conforming loan limits. They determine the maximum amount you can borrow through a conventional mortgage while enjoying the benefits of government-backed financing, such as those offered by Fannie Mae and Freddie Mac.

Here’s an explanation of Riverside County loan limits when purchasing a home:

  1. Conforming Loan Limits: Conforming loan limits are the maximum loan amounts that Fannie Mae and Freddie Mac will purchase or guarantee on the secondary mortgage market. These limits are adjusted annually based on changes in home prices and are designed to ensure that borrowers have access to affordable mortgage financing.
  2. Regional Variation: Loan limits can vary from county to county across the United States due to differences in local housing markets. Riverside County, like other counties, has its specific loan limit, which may change each year.
  3. FHFA Updates: The FHFA reviews and updates these loan limits annually to account for changes in home prices. They consider factors like median home prices in the area to determine the maximum loan amounts that can be financed using conforming loans.
  4. High-Cost Areas: Some regions, including parts of Riverside County, may be designated as high-cost areas. In these areas, conforming loan limits are typically higher than those in standard-cost areas to accommodate the higher cost of housing.
  5. Loan Types: Conforming loan limits apply primarily to conventional mortgages. Other types of loans, such as FHA loans and VA loans, have their own maximum loan limits set by the respective government agencies. These limits may differ from conforming loan limits.
  6. Benefits of Conforming Loans: Borrowers often prefer conforming loans because they typically offer more competitive interest rates and lower down payment requirements compared to jumbo loans, which exceed the conforming loan limits. Conforming loans may also have more flexible qualification criteria.
  7. Monitoring Changes: It’s essential for homebuyers in Riverside County to keep an eye on the annual updates to loan limits. These changes can impact the maximum loan amount you can obtain without resorting to a jumbo loan, which may come with stricter requirements and higher interest rates.
  8. Professional Guidance: When considering purchasing a home in Riverside County or any area with changing loan limits, it’s advisable to consult with a local mortgage lender or Brokers, Michael & Anita Marchena with Marchena Home Team, Broker owners at My Key Real Estate. They can provide up-to-date information on loan limits and help you determine the best financing options for your specific circumstances.

In summary, Riverside County, like other regions in the U.S., has loan limits that determine the maximum amount you can borrow when purchasing a home. These limits are subject to annual adjustments based on local housing market conditions and are designed to facilitate affordable mortgage financing while maintaining stability in the housing market. Staying informed about these loan limits is crucial when planning to buy a home in Riverside County.