What is the conforming loan limit in Los Angeles?

The 2024 conforming loan limit for Los Angeles County is $1,149,825 for a single-family home. This is the maximum for high-cost areas and allows most LA homes to use conforming loan rates instead of jumbo.

How much do you need to buy a house in Los Angeles?

With a median home price around $950,000, you would need $33,250 for a 3.5% FHA down payment or $47,500 for 5% conventional. A 20% down payment would be $190,000. Budget an additional 2-3% for closing costs.

Are property taxes low in Los Angeles?

Yes, California's Prop 13 caps property taxes at about 1% of the purchase price with maximum 2% annual increases. This is significantly lower than states like Texas (2.2%) or Illinois (2.1%).

What California programs help first-time buyers in LA?

CalHFA offers several programs including CalHFA FHA and conventional loans with below-market rates, plus down payment assistance through the MyHome Assistance Program (up to 3.5% of the purchase price as a deferred-payment junior loan).

Los Angeles Mortgage Rates: Today's Best LA Rates

Find current mortgage rates in Los Angeles County. Compare 30-year, 15-year, FHA, VA, and jumbo rates. LA is a high-cost area with conforming limits up to $1,149,825.

Los Angeles Mortgage Market Overview

$950K+

Median Home Price

$1.15M

Conforming Limit

0.75%

Avg. Property Tax (Prop 13)

Top 3

Most Competitive Market

What Makes Los Angeles Unique

Los Angeles is one of the most expensive housing markets in the U.S., but California's Proposition 13 caps property tax increases at 2% per year from the purchase price assessment. This means long-term homeowners pay significantly less in property taxes than comparable homes in states like Texas or Illinois. LA County's high-cost conforming limit of $1,149,825 also means many expensive homes can still use conforming loan rates.

Prop 13 Tax Advantage

Property taxes are assessed at ~1% of purchase price and can only increase 2%/year. A home bought for $500K in 2010 still has taxes based on ~$600K even if it's worth $1.2M now.

High-Cost Conforming

The $1,149,825 conforming limit means homes up to ~$1.2M can avoid jumbo loan requirements. Above that, jumbo loans are needed.

Diverse Neighborhoods

Prices range from $400K in parts of the San Fernando Valley to $3M+ in Westside neighborhoods. Rate shopping matters in every price range.

Strong FHA Activity

LA County FHA limit is $1,149,825 — among the highest in the nation. FHA is viable even for higher-priced homes in LA. See FHA loans.

LA Rate Comparison by Loan Type

Loan Type	Best For	Min. Down	Learn More
30-Year Fixed	Most LA buyers	3%–20%	30-Year Rates
15-Year Fixed	Faster payoff, lower rate	3%–20%	15-Year Rates
FHA	First-time buyers, lower credit	3.5%	FHA Rates
VA	Veterans in LA	0%	VA Rates
Jumbo	Homes over $1.15M	10%–20%	Jumbo Rates
ARM	Short-term owners	5%–20%	ARM Rates

Tips for LA Homebuyers

LA-Specific Advice

Get pre-approved early — LA's competitive market requires strong offers with proof of financing
Consider ADU potential — California's ADU laws allow adding rental units, which can help qualify for more
Factor in earthquake insurance — not required but strongly recommended; $1,000–$3,000/year
Look at emerging neighborhoods — areas like Highland Park, Inglewood, and Palmdale offer better value
Use California first-time buyer programs — CalHFA offers down payment assistance and below-market rates

Use our mortgage calculator to estimate payments in the LA market, or check what you can afford.