8 Best Jumbo Loans in Florida


Jumbo mortgage loans in Florida offers access to higher purchasing limits than conventional mortgages.

Key Terms

  • Limits on Florida jumbo loans far outpace conventional mortgage rates.
  • A Florida jumbo loan can require a smaller down payment than a conventional loan.
  • Borrowers can use a single loan to finance a property instead of combining multiple mortgages.

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. 

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What is the jumbo loan limit in Florida?

The jumbo loan limit in Florida for most counties is $647,200. For counties along the coast, such as Monroe county, the jumbo loan limit is $710,700. Any loan that exceeds either $647,200 or $970,800 is a jumbo loan, depending on the county.

Florida Jumbo Loan Limits (October 2022)

Florida county-by-county jumbo loan, conforming loan and FHA loan limits.

Florida
County
Florida
Jumbo loan
(1-unit)
Florida
Conforming
loan limit
(1-unit)
Florida
FHA loan limit
(1-unit)
Alachua$647,200+$647,200 $420,680
Baker$647,200+$647,200 $432,400
Bay$647,200+$647,200 $420,680
Bradford$647,200+$647,200 $420,680
Brevard$647,200+$647,200 $420,680
Broward$647,200+$647,200 $460,000
Calhoun$647,200+$647,200 $420,680
Charlotte$647,200+$647,200 $420,680
Citrus$647,200+$647,200 $420,680
Clay$647,200+$647,200 $432,400
Collier$647,200+$647,200 $420,680
Columbia$647,200+$647,200 $420,680
De Soto$647,200+$647,200 $420,680
Dixie$647,200+$647,200 $356,362
Duval$647,200+$647,200 $432,400
Escambia$647,200+$647,200 $420,680
Flagler$647,200+$647,200 $420,680
Franklin$647,200+$647,200 $420,680
Gadsden$647,200+$647,200 $420,680
Gilchrist$647,200+$647,200 $420,680
Glades$647,200+$647,200 $420,680
Gulf$647,200+$647,200 $420,680
Hamilton$647,200+$647,200 $420,680
Hardee$647,200+$647,200 $420,680
Hendry$647,200+$647,200 $420,680
Hernando$647,200+$647,200 $420,680
Highlands$647,200+$647,200 $420,680
Hillsborough$647,200+$647,200 $420,680
Holmes$647,200+$647,200 $420,680
Indian River$647,200+$647,200 $420,680
Jackson$647,200+$647,200 $420,680
Jefferson$647,200+$647,200 $420,680
Lafayette$647,200+$647,200 $420,680
Lake$647,200+$647,200 $420,680
Lee$647,200+$647,200 $420,680
Leon$647,200+$647,200 $420,680
Levy$647,200+$647,200 $420,680
Liberty$647,200+$647,200 $420,680
Madison$647,200+$647,200 $420,680
Manatee$647,200+$647,200 $420,680
Marion$647,200+$647,200 $420,680
Martin$647,200+$647,200 $431,250
Miami-Dade$647,200+$647,200 $460,000
Monroe$710,700+$710,700 $710,700
Nassau$647,200+$647,200 $432,400
Okaloosa$647,200+$647,200 $539,350
Okeechobee$647,200+$647,200 $420,680
Orange$647,200+$647,200 $420,680
Osceola$647,200+$647,200 $420,680
Palm Beach$647,200+$647,200 $460,000
Pasco$647,200+$647,200 $420,680
Pinellas$647,200+$647,200 $420,680
Polk$647,200+$647,200 $420,680
Putnam$647,200+$647,200 $420,680
St. Johns$647,200+$647,200 $432,400
St. Lucie$647,200+$647,200 $431,250
Santa Rosa$647,200+$647,200 $420,680
Sarasota$647,200+$647,200 $420,680
Seminole$647,200+$647,200 $420,680
Sumter$647,200+$647,200 $420,680
Suwannee$647,200+$647,200 $420,680
Taylor$647,200+$647,200 $420,680
Union$647,200+$647,200 $420,680
Volusia$647,200+$647,200 $420,680
Wakulla$647,200+$647,200 $420,680
Walton$647,200+$647,200 $539,350
Washington$647,200+$647,200 $420,680

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8 Best Florida jumbo loan lenders

If you’re in the market for a home in Florida, consider these jumbo mortgage loans that are available to state residents.

1. Fifth Third Bank

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:

  • Loans up to $3 million
  • Minimum credit score is 680
  • Fixed rate and variable interest rate loans available
  • Cash reserves required
  • Jumbo loans are more likely to require a downpayment of 20%, though you may be able to go as low as 10%

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.

2. Chase Bank

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:

  • Up to $3 million for a jumbo loan.
  • Banking customers might get discounted pricing up to 0.5% off standard rates.
  • $5,000 Closing Guarantee (either an on-time closing or you get $5,000).
  • Interest Only loan available for high-value, single-family primary or secondary home purchases.

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.

3. Keybank

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:

SilverKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required, resulting in lower monthly payments
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.

GoldKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required, resulting in lower monthly payments
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.
  • Available for second homes, vacation homes and investment properties.

Jumbo Interest-Only Mortgages

  • Loan amounts up to $3.5 million
  • 30% down on mortgages up to $1.5 million for primary residences
  • 35% down on mortgages up to $2 million for second homes
  • No private mortgage insurance required
  • ARM-only options

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.

4. Huntington Bank

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:

  • Loan amounts up to $2.5 million
  • Purchase and refinance available
  • Refinancing allows you to take up to $750,000 of equity out of your home.
  • Second homes are eligible
  • Multi-unit properties are eligible

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.

5. BMO Harris Bank

BMO Harris Bank is an established player in the mortgage industry that ranks 16th largest by total assets in the country. The bank offers a full range of financial products, including jumbo loans.

We spoke to a BMO Harris loan officer to get additional details about their jumbo mortgage, many of which aren’t published. Here are some key terms and highlights:

  • 10% down to $1 million (740+ credit score)
  • 15% down to $1.5 million (720+ credit score)
  • 20% down to $2 million (700+ credit score)
  • 25% down to $3 million (700+ credit score)
  • 30% down to $5 million (700+ credit score)
  • 45% down over $5 million (700+ credit score)
  • 30/20/15/10 year fixed
  • 5/6, 7/6, and 10/6 ARMs
  • All 50 states
  • 12 months reserves

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.

6. SoFI

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:

  • Loan amounts up to $3 million
  • Down payments start at 10% and increase as the loan amount increases.
  • No PMI, regardless of your down payment amount.
  • 15-year or 30-year fixed rate products available

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.

7. TD Bank

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:

  • 10% down up to $3 million
  • Requires a credit score minimum of 700
  • Can lend up to $4.5 million
  • If you qualify for the wealth program, you are eligible for jumbo loans up to $6 million with 30% down or loans above $6 million with 35% down.

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.

8. Flagstar Bank

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:

  • Loan amounts up to $3 million on primary residences
  • Loan amounts up to $2.5 million on second homes
  • Purchase and rate/term refinance options available on primary residences and second homes
  • No prepayment penalties
  • First-time homebuyers permitted
  • No mortgage insurance options available
  • Cash-out options available on primary residence

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.

Benefits of getting a jumbo loan in Florida

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. 

Are jumbo loans a good option for you?

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’re looking to explore jumbo mortgage loans in other states, check out our national overview of jumbo loans as a starting point in your search.

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Joshua Holt

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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