The 2024 high-balance conforming loan limit for Santa Barbara County is $838,350.

The 2024 “low-balance” conforming loan limit for Santa Barbara County is $766,550.

  • Both loan limits above are based on a 1-unit property.

Click Here to See Our Fantastic Rates!

Loans between $766,550 and $838,350 for a 1-unit property in Santa Barbara County are considered high-balance conforming loans.  High-balance loans tend to have slightly higher interest rates and slightly tighter qualifying guidelines compared to loans under the low-balance limit of $766,550.  With a high-balance loan, you can put as little as 5% down, and the entire down payment can be a gift.

If you can keep your loan under $766,550, you will be rewarded with a lower interest rate and payment.  Also, you can put as little as 3% down, and the entire down payment can be a gift.

First-time home buyers purchasing a home in Santa Barbara County may qualify for lower rates and costs by waiving Loan Level Pricing Adjustments or LLPAs if their gross annual qualifying income is $128,760 or less.

Loans above $838,350 for 1-unit properties in Santa Barbara County are considered jumbo loans. Jumbo loans can have more difficult qualifying requirements, such as mandatory reserve funds and lower maximum debt-to-income ratios.

Below are the high-balance conforming loan limits for 2 to 4-unit properties in Santa Barbara County:

  • 2-unit property – $1,073,250
  • 3-unit property – $1,297,300
  • 4-unit property – $1,612,250

You can secure a lower interest rate and put as little as 5% down on a primary residence if you keep your loan amount under the “low-balance” limits for 2 to 4-unit properties in Santa Barbara County.

Below are the “low-balance” conforming loan limits for 2 to 4-unit properties in Santa Barbara County:

  • 2-unit property – $981,500
  • 3-unit property – $1,186,350
  • 4-unit property – $1,474,400

Click Here for FHA Loan Limits for Santa Barbara County 2024

If you are looking for a purchase loan or a refinance in Santa Barbara County, we would love to work with you! We can close a purchase loan in as little as 10 days and refinances in 15 days.  You won’t find a lower rate and better service than Community First Mortgage.

Check out our reviews on Yelp!

Date UpdatedTime
Feb 20, 20242:31 PM
(Rates subject to change without notice)
Loan TypeLoan PurposeLoan TermInterest RateAPRPoints
ConformingPurchase30 year fixed6.250%6.434%1.643
ConformingPurchase30 year fixed6.625%6.657%0.057
ConformingPurchase20 year fixed6.125%6.207%0.379
ConformingPurchase15 year fixed5.750%5.889%0.612
FHAPurchase30 year fixed5.750%6.516%0.280
VAPurchase30 year fixed5.750%6.020%0.450

Conforming

30 Year Fixed

InterestAPRPoints
6.250%6.434%1.643
6.625%6.657%0.057

20 Year Fixed

InterestAPRPoints
6.125%6.207%0.379

15 Year Fixed

InterestAPRPoints
5.750%5.889%0.612

FHA

30 Year Fixed

InterestAPRPoints
5.750%6.020%0.450

VA

30 Year Fixed

InterestAPRPoints
5.750%6.516%0.280

Loan Assumptions