When the loan is larger, the details matter more.
A jumbo mortgage is any Florida home loan above $832,750 — the 2026 conforming limit. Down payments from 10%, typically no mortgage insurance, and rates competitive with conforming. Run by a licensed Florida loan officer who will tell you when you don't need one.
Two numbers decide it in Florida.
The Federal Housing Finance Agency sets a conforming loan limit each year. Nearly every Florida county sits at the national baseline. Only the Keys are treated as high-cost.
Baseline — 66 of 67 counties
Miami-Dade, Broward, Palm Beach, Hillsborough, Orange, Lee, Collier, Duval and the rest of the state
- A loan of $832,750 or less is conforming
- A loan of $832,751 or more is a jumbo
- Up $26,250 from 2025, a 3.26% increase
Monroe County — high-cost
Key West, Key Largo, Islamorada, Marathon and the rest of the Florida Keys
- Florida's only designated high-cost area
- $157,400 more room before jumbo applies
- Useful if you are buying in the Keys
The limit applies to your loan, not your price.
This is the single most useful thing on this page, and it is the first thing I check before quoting anyone a jumbo. The conforming limit is measured against the amount you borrow — not what the house costs.
Which means a slightly larger down payment can move you from jumbo into conforming territory, on the exact same house:
Same house. $45,000 more down and the loan stops being a jumbo. Whether that is worth doing depends on the pricing spread the day you lock, what else that cash could do, and whether conforming guidelines actually fit your file. Sometimes the jumbo is the better loan and you should take it.
That is the conversation, and it is why I would rather run both sets of numbers than sell you the bigger loan by default.
Are you actually in jumbo territory?
Move the sliders. This compares your loan amount against the limit for your county. Nothing here is an application, and no credit is pulled.
Illustrative only. Your actual loan amount, eligibility and pricing depend on full underwriting, the property, and program guidelines that can change.
Jumbo guidelines, plainly stated.
These are Rate's published jumbo figures. They are guidelines, not a decision — jumbo files are underwritten by hand, and the full picture matters more than any single number.
Minimum down payment
Rate offers jumbo options starting at 10% down where 20% has been the industry standard. The published range runs 10% to 30% depending on loan size and profile.
Minimum credit score
Rate cites a 700 minimum for jumbo financing. Higher scores generally improve both pricing and how much flexibility you have elsewhere in the file.
Maximum DTI
A debt-to-income ratio of 43% or lower. Strong reserves and documented income can matter as much as the ratio itself.
Mortgage insurance
Jumbo loans usually carry no mortgage insurance — a real monthly saving versus a conventional loan under 20% down.
South Florida runs on these loans.
Above the conforming limit is ordinary here, not exotic. A median waterfront condo clears it without trying.
Primary residences
The Coral Gables, Pinecrest, Coconut Grove and Las Olas price bands sit above the limit routinely. A jumbo is simply what that purchase requires.
Second homes & coastal condos
Common in the Keys, Naples and the barrier islands. Occupancy affects your down payment and reserves, so bring it up early.
Investment properties
Jumbo financing is used for larger rental and investment purchases. Terms tighten compared with a primary residence — worth structuring deliberately.
Four steps, handled properly.
Jumbo underwriting is manual. That is not a delay to apologize for — it is a person actually reading your file, which usually works in your favor.
Confirm you're really jumbo
We measure your loan amount against your county's limit. If a structure change puts you under it and that is the better deal, I will say so.
Income and reserves
Jumbo files look hard at income stability and the cash left after closing. Self-employed borrowers should expect two years of returns.
Structure the loan
One jumbo, or a conforming first plus a second? Fixed or adjustable? We compare total cost against how long you plan to hold the property.
Appraisal and closing
Larger loans often need a full appraisal, occasionally two. If it's a condo, the building gets reviewed as well as you. We manage it against your contract dates.
Nikola Spadijer
VP of Mortgage Lending · Rate · NMLS #2459410
Jumbo loans are where structure earns its keep. The difference between a good outcome and an expensive one is usually decided before the application — in how the loan is sized, how the down payment is set, and whether anyone checked if you needed a jumbo at all.
I work with Florida buyers out of Coral Gables. If splitting into a conforming first is the better answer, or if a larger down payment saves you more than it costs, I would rather tell you that than close the bigger loan.
The things worth asking.
Including the ones that might save you from taking a jumbo you don't need.
For 2026, the conforming loan limit is $832,750 for a one-unit property in nearly every Florida county — including Miami-Dade, Broward, Palm Beach, Hillsborough and Orange. Monroe County, which covers the Florida Keys, is the state's only designated high-cost area at $990,150. A loan above the limit that applies to your county is a jumbo, or non-conforming, loan. The threshold is set by the FHFA and changes annually.
Your loan amount, and this distinction saves people real money. On a $900,000 purchase in Miami-Dade, putting 10% down leaves an $810,000 loan, which is under $832,750 and therefore conforming. Putting 5% down leaves $855,000, which is jumbo. The purchase price never changed — only the structure did. This is one of the first things I check, because conforming terms are often cheaper.
Rate offers jumbo down payment options starting at 10% for qualified borrowers, where 20% has long been the industry standard. Rate publishes a general range of 10% to 30% depending on the loan amount, term and borrower profile. The larger the loan, the more likely the required down payment moves up.
Rate cites a minimum credit score of 700 for jumbo financing, and a debt-to-income ratio of 43% or lower. Those are guideline figures rather than a guarantee — jumbo loans are underwritten by hand, and the strength of your reserves, income documentation and the property itself all factor into the decision.
Typically no. Rate notes that jumbo loans usually don't require mortgage insurance, which is a meaningful cost advantage — on a conventional loan under 20% down, mortgage insurance can add hundreds of dollars a month. It is part of why a 10% down jumbo can compare favorably against alternatives that avoid the jumbo label but carry MI.
Not necessarily, and that surprises people. Rate describes jumbo interest rates as competitive with conforming mortgage rates. Jumbo pricing is set by the lenders and investors who hold these loans rather than by Fannie Mae and Freddie Mac, so the spread moves with the market and at times jumbo has priced below conforming. I will show you both sets of numbers side by side rather than assume.
Expect to document cash reserves left over after your down payment and closing costs. Rate does not publish a fixed figure, and the requirement scales with loan size, credit profile and property type. Retirement and investment accounts often count toward reserves at a discounted value, so the number is usually more attainable than it first sounds.
Jumbo financing is commonly used for second homes and investment properties, and in South Florida that is a large share of the market. Terms differ from a primary residence: expect a higher down payment and tighter reserve requirements. Rate's published jumbo guidelines focus on primary residences, so occupancy is worth confirming with me early — it changes the structure meaningfully.
Yes, and in Florida this matters more than almost anywhere else. Beyond your own qualifications, the building itself is reviewed — reserve funding, owner-occupancy ratio, litigation, and since the Surfside collapse, milestone inspection and structural reserve study status under Florida law. A financially strong buyer can still be declined because of the association's condition. If you are buying a coastal condo, tell me the building early so we can review it before you are under contract.
Sometimes. A conforming first mortgage at the limit paired with a second lien can beat a single jumbo, particularly when jumbo pricing widens or when it keeps you clear of a tighter jumbo guideline. It also adds a second payment and a second set of terms. I run both structures and show you the total cost of each — the right answer depends on the spread on the day you lock. If a refinance is what you actually need, that page is here.
Let's find out what you actually need.
Send over the property and the numbers you're working with. I'll tell you whether it's a jumbo, what the structure should look like, and whether there's a cheaper way to get there.