Jumbo mortgage loans in Florida offers access to higher purchasing limits than conventional mortgages.
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Known across the world as the Sunshine State, Florida is home to some of the most popular locations in America, including Disney World, busy Miami and the lush and natural Everglades. This sunny state is home to everyone from the North’s famous “snowbirds” to urban professionals. With housing prices in the rise, however, buying a home in Florida is more complex than ever.
Prospective home buyers in Florida should brace for higher home prices this year. According to the Florida Realtors Organization, real estate prices may rise by up to 3.5% – a shift attributed to increased labor costs and building material production. According to the Florida Realtors Association, the current median price for a home in the state is $375,000.
For the most recent year, the HDMA data places Florida 2nd in the country in terms of mortgage origination activity, with a total of $45.28 billion in jumbo mortgages originated. If you’re looking for a jumbo home loan in Florida, there are plenty of other borrowers just like you taking out these loans, too.
The jumbo loan limit in Florida for most counties is $726,200. For counties along the coast, such as Monroe county, the jumbo loan limit is $874,000. Any loan that exceeds either $726,200 or $874,000 is a jumbo loan, depending on the county.
| Florida County | Florida Jumbo loan (1-unit) | Florida Conforming loan limit (1-unit) | Florida FHA loan limit (1-unit) |
|---|---|---|---|
| Alachua | $726,200+ | $726,200 | $420,680 |
| Baker | $726,200+ | $726,200 | $432,400 |
| Bay | $726,200+ | $726,200 | $420,680 |
| Bradford | $726,200+ | $726,200 | $420,680 |
| Brevard | $726,200+ | $726,200 | $420,680 |
| Broward | $726,200+ | $726,200 | $460,000 |
| Calhoun | $726,200+ | $726,200 | $420,680 |
| Charlotte | $726,200+ | $726,200 | $420,680 |
| Citrus | $726,200+ | $726,200 | $420,680 |
| Clay | $726,200+ | $726,200 | $432,400 |
| Collier | $726,200+ | $726,200 | $420,680 |
| Columbia | $726,200+ | $726,200 | $420,680 |
| De Soto | $726,200+ | $726,200 | $420,680 |
| Dixie | $726,200+ | $726,200 | $356,362 |
| Duval | $726,200+ | $726,200 | $432,400 |
| Escambia | $726,200+ | $726,200 | $420,680 |
| Flagler | $726,200+ | $726,200 | $420,680 |
| Franklin | $726,200+ | $726,200 | $420,680 |
| Gadsden | $726,200+ | $726,200 | $420,680 |
| Gilchrist | $726,200+ | $726,200 | $420,680 |
| Glades | $726,200+ | $726,200 | $420,680 |
| Gulf | $726,200+ | $726,200 | $420,680 |
| Hamilton | $726,200+ | $726,200 | $420,680 |
| Hardee | $726,200+ | $726,200 | $420,680 |
| Hendry | $726,200+ | $726,200 | $420,680 |
| Hernando | $726,200+ | $726,200 | $420,680 |
| Highlands | $726,200+ | $726,200 | $420,680 |
| Hillsborough | $726,200+ | $726,200 | $420,680 |
| Holmes | $726,200+ | $726,200 | $420,680 |
| Indian River | $726,200+ | $726,200 | $420,680 |
| Jackson | $726,200+ | $726,200 | $420,680 |
| Jefferson | $726,200+ | $726,200 | $420,680 |
| Lafayette | $726,200+ | $726,200 | $420,680 |
| Lake | $726,200+ | $726,200 | $420,680 |
| Lee | $726,200+ | $726,200 | $420,680 |
| Leon | $726,200+ | $726,200 | $420,680 |
| Levy | $726,200+ | $726,200 | $420,680 |
| Liberty | $726,200+ | $726,200 | $420,680 |
| Madison | $726,200+ | $726,200 | $420,680 |
| Manatee | $726,200+ | $726,200 | $420,680 |
| Marion | $726,200+ | $726,200 | $420,680 |
| Martin | $726,200+ | $726,200 | $431,250 |
| Miami-Dade | $726,200+ | $726,200 | $460,000 |
| Monroe | $726,200+ | $726,200 | $710,700 |
| Nassau | $726,200+ | $726,200 | $432,400 |
| Okaloosa | $726,200+ | $726,200 | $539,350 |
| Okeechobee | $726,200+ | $726,200 | $420,680 |
| Orange | $726,200+ | $726,200 | $420,680 |
| Osceola | $726,200+ | $726,200 | $420,680 |
| Palm Beach | $726,200+ | $726,200 | $460,000 |
| Pasco | $726,200+ | $726,200 | $420,680 |
| Pinellas | $726,200+ | $726,200 | $420,680 |
| Polk | $726,200+ | $726,200 | $420,680 |
| Putnam | $726,200+ | $726,200 | $420,680 |
| St. Johns | $726,200+ | $726,200 | $432,400 |
| St. Lucie | $726,200+ | $726,200 | $431,250 |
| Santa Rosa | $726,200+ | $726,200 | $420,680 |
| Sarasota | $726,200+ | $726,200 | $420,680 |
| Seminole | $726,200+ | $726,200 | $420,680 |
| Sumter | $726,200+ | $726,200 | $420,680 |
| Suwannee | $726,200+ | $726,200 | $420,680 |
| Taylor | $726,200+ | $726,200 | $420,680 |
| Union | $726,200+ | $726,200 | $420,680 |
| Volusia | $726,200+ | $726,200 | $420,680 |
| Wakulla | $726,200+ | $726,200 | $420,680 |
| Walton | $726,200+ | $726,200 | $539,350 |
| Washington | $726,200+ | $726,200 | $420,680 |
If you’re in the market for a home in Florida, consider these jumbo mortgage loans that are available to state residents.
Fifth Third Bank is headquartered in Cincinnati, Ohio and is one of the largest consumer banks in the country. The bank’s unique name came from a 1909 merger between Third National Bank and Fifth National Bank. The bank offers a full suite of financial products, including jumbo financing.
We contacted Fifth Third Bank to learn about their jumbo loan rates specifically. Here are the important details:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
JPMorgan Chase Bank is one of the oldest banks in the United States, tracing its roots back to the 18th-century and JP Morgan himself. As one of the Big Four banks, it’s not a surprise that they have a competitive jumbo mortgage program in addition to a variety of other financing options.
We contacted Chase Bank to get additional details about their jumbo mortgage. Here are some key terms and highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Keybank has over $170 billion in assets and is the 24th largest bank in the United States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among borrowers throughout the country. One of their key financial products is a jumbo mortgage loan.
We contacted Keybank to learn more about their jumbo loan options and here are the key terms and highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive jumbo loan product with no money down financing options.
We contacted a loan officer at Huntington Bank to gather information about their jumbo mortgage and here’s what we heard back:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.
We spoke to a loan officer at SoFi to discuss their jumbo loan mortgage and this is what we learned:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
TD Bank is a huge bank with deposits over $600 billion, putting it as the sixth largest bank in the United States. You don’t grow that large without having a competitive jumbo loan product.
We spoke to a loan officer at TD Bank to learn more about their jumbo loan program and thought they had some unique features. Here are the basics:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.
We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
The high cost of housing in Florida makes it pretty challenging to determine how to finance your dream home. But with Jumbo loans in Florida, it’s now easier to find and utilize these financing options. So, what actual benefits do these tools offer?
You’ll have more money in your hands, to start with. Compared to most other financing options, jumbo loans aren’t subject to any limits. Jumbo loans allow you to get approvals for larger loans that often exceed the current Federal Housing Finance Administrative limits.
Flexible down payments are a plus with jumbo loans, and it’s possible to make a down payment lower than 20% when dealing with Jumbo loans. Depending on factors such as your budget, income, and credit history, you can apply for a jumbo loan that’s flexible for you.
Jumbo loans open an opportunity to buy larger homes. Conforming loan limits are set by the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, two government-sponsored mortgage companies that buy most of the mortgages made in the U.S. from lenders and resell them to investors.
The good thing about jumbo loans is that they allow you to think beyond your pockets. With additional funding, it’s possible to go for a larger home.
Most borrowers ponder over the viability of jumbo loans when making housing-related decisions. Depending on the choice of Jumbo loan lender, this could be the best choice you ever made. Compared to other options, jumbo loans ensure a smooth flow as you go about the construction process.
Keep in mind that not every property will qualify for financing through a jumbo loan. While a jumbo loan can open a lot of doors, it can also keep you from some properties.
If you want to find the best jumbo loans in other states, click on your state below.
Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.
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