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Florida Jumbo Mortgage Loans for High-Value Homes
Jumbo underwriting can be more detailed. We’ll help you structure assets, income, and reserves properly, compare fixed vs ARM options, and keep your closing on track.
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What Is a Jumbo Loan?
A Jumbo loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. In most Florida counties, this limit is $832,750 for single-family homes. Jumbo loans allow qualified buyers to finance higher-priced properties without government backing.
We offer Florida borrowers competitive Jumbo mortgage rates with flexible down payments, low reserves, and a variety of program options, including 10% down, 20% down, VA jumbo loans, and no income verification options for investors.
Down Payment Options for Florida Jumbo Loans
- 10% Down: Primary residences and second homes
- 20% Down: Primary residences, second homes, and investment properties
- 5% Down: Select programs available for qualified borrowers
- VA Jumbo Loans: Zero-down options for eligible Veterans
Many borrowers are surprised that Jumbo financing does not always require 20% down. We offer high-LTV solutions up to 90%, including piggyback options.
Jumbo Loan Requirements in Florida
| Requirement | 10% Down | 20% Down |
|---|---|---|
| Minimum Credit Score | 680 | 660 |
| Maximum DTI | Flexible | 43% |
| Eligible Properties | Single-family homes, townhomes, condos | Single-family homes, townhomes, condos |
| Ineligible Properties | Multi-unit, vacant land, commercial | Multi-unit, vacant land, commercial |
| Mortgage Insurance | Not required | Not required |
| Reserves | Little or none | 6-12 months recommended |
| Prior BK/Foreclosure/Short Sale | None in past 7 years | None in past 7 years (12-month options with 660 credit and 80% LTV) |
| Loan Terms | 15 & 30 yr fixed, ARMs | 15 & 30 yr fixed, ARMs |
Jumbo loans are ideal for Florida buyers in Miami, Tampa, Orlando, Jacksonville, Coral Gables, Naples, and West Palm Beach looking for high-balance financing.
Key Benefits of Florida Jumbo Loans
- Finance high-value primary residences and second homes
- Flexible down payment options starting at 10%
- No mortgage insurance required
- VA jumbo loans with zero down available
- No-doc / self-employed solutions available via Bank Statement loans
- Variety of loan terms, fixed-rate and adjustable-rate options
Is a Jumbo Loan Right for You?
Jumbo loans are perfect for Florida buyers who:
- Are purchasing a high-value property above conforming limits
- Want flexible down payments and loan terms
- Prefer low or no mortgage insurance
- Are Veterans, investors, or self-employed borrowers
Talk With a Florida Jumbo Loan Specialist
Licensed Florida Mortgage Loan Originator
Serving homebuyers and investors across Florida
Frequently Asked Questions About Jumbo Loans in Florida
What is a jumbo loan in Florida, and when do I need one?
A jumbo loan is a mortgage that exceeds conforming loan limits. In Florida, jumbo financing is common in higher-priced markets and for certain property types like waterfront homes, luxury condos, and newer construction. If your loan amount is above the conforming limit for the county where you are buying, you will typically need a jumbo program, or an alternative structure that fits the property and your goals.
What down payment is usually required for a Florida jumbo mortgage?
Down payment requirements vary by lender and depend on your credit, assets, loan amount, and property type. In Florida, jumbo down payments can be higher for condos, second homes, and investment properties compared to a primary residence. The best approach is to review your target price range and property type, then match you with the program that offers the strongest approval path and pricing.
Why do jumbo loans in Florida often require more documentation?
Jumbo underwriting is typically more detailed because the loan amounts are larger and guidelines are often set by the investor or bank providing the funds. Florida jumbo loans commonly require thorough income, asset, and reserve documentation, and lenders may scrutinize items like large deposits, business income, and complex compensation. Preparing the right documentation early can help avoid last-minute conditions and closing delays.
Do jumbo loans in Florida require cash reserves, and how are reserves calculated?
Many Florida jumbo programs require reserves, which means funds you have available after closing. Reserves are often calculated in months of housing payments and can vary based on the loan size, occupancy type, and your overall financial profile. Acceptable reserve assets may include funds in checking and savings, brokerage accounts, and in some cases retirement accounts, depending on lender rules.
Can I get a Florida jumbo loan for a condo, second home, or refinance?
Yes, jumbo financing in Florida can be available for condos, second homes, and refinances, but the guidelines can be stricter than for primary residences. Condo eligibility and HOA requirements can be a key factor, and second homes or cash-out refinances may have different down payment or equity requirements. If you share the property type and your goals, we can outline the best jumbo options and the smoothest path to approval.
Disclaimer: Jumbo loan programs, rates, and underwriting requirements can change without notice. For the most up-to-date jumbo loan guidelines in Florida and a personalized pre-approval review, please contact us.