What is a jumbo loan in Florida? 2026 jumbo mortgage limits and requirements

Shopping for a home in Florida means navigating a diverse real estate landscape. From Miami's luxury high-rises to Orlando's growing suburban communities and the coastal properties along the Gulf and Atlantic, housing options vary dramatically across the Sunshine State. If the home you want to purchase costs more than standard loan programs allow, a jumbo loan might be the financing solution you need.

This guide walks you through jumbo loan limits in Florida for 2026, explains how they differ from conventional mortgages, and outlines what lenders look for when reviewing applications.

What is a jumbo loan in Florida?

A jumbo loan is a home mortgage that surpasses the maximum conforming loan limits set each year by the Federal Housing Finance Agency (FHFA). In 2026, most Florida counties have a baseline conforming limit of $832,750 for single-family homes. However, there is one county (Monroe County) that allows for conforming loans up to $990,150 for a single unit property such as a home. Any mortgage above the applicable limit for a given county falls into jumbo territory.

Jumbo loans provide financing when home values exceed what conventional loan programs can cover. This is particularly relevant in Florida's competitive real estate markets where waterfront properties, luxury estates, and homes in sought-after neighborhoods often command premium prices.

Because jumbo mortgages involve higher dollar amounts, lenders conduct more comprehensive financial evaluations. They examine credit profiles, employment history, monthly debt commitments, and liquid assets with extra care to ensure borrowers can manage the larger payment obligations.

Everything you need to know about the 2026 conforming loan limit in Florida

For 2026, conforming loan limits in Florida depend on whether a county qualifies as a high-cost area. Most counties follow the baseline limit of $832,750, while high-cost counties allow up to $990,150. Any mortgage exceeding these thresholds is classified as a jumbo loan.

Florida has one high-cost county where conforming limits reach $990,150 for single-family properties. Monroe County includes the Florida Keys so the elevated limits reflect the higher median home values in that area.

If you're purchasing a property with multiple units or investing in multi-family housing, the FHFA also sets higher conforming loan limits for multi-unit properties.These thresholds increase with the number of units, and exceeding them moves the loan into jumbo classification.

2026 conforming loan limits in Florida

Baseline counties (all counties but Monroe):

• One-unit property: $832,750
• Two-unit property: $1,066,250
• Three-unit property: $1,288,800
• Four-unit property: $1,601,750

Monroe county:

• One-unit property: $990,150
• Two-unit property: $1,267,600
• Three-unit property: $1,532,200
• Four-unit property: $1,904,150

Florida's housing market has experienced significant appreciation in recent years, particularly in metro areas and coastal regions. As of January 2026, statewide home prices climbed .5% year over year. However, certain areas have seen much more significant year over year growth. In Naples, prices jumped 41%, while St. Petersburg saw gains of 27%. These trends push more properties into price ranges that require jumbo financing, especially in desirable neighborhoods near beaches, entertainment districts, and employment centers.

You can explore the FHFA conforming loan limit values map for detailed county-by-county information to confirm which limit applies to your target area.

Certain jumbo programs, like the Rocket Mortgage^® Jumbo Smart Loan, extend up to $3 million in financing, giving buyers additional options when pursuing higher-priced properties throughout Florida.

Requirements for a jumbo loan in Florida

Jumbo loans carry stricter qualification criteria compared to conventional mortgages because they represent greater financial exposure for lenders. While specific requirements vary between lenders and loan products, most programs evaluate the following factors closely.

Property type

Jumbo mortgages can finance various property types, from primary homes to vacation residences and rental investments. Qualification standards may shift based on property use, but borrowers generally have options across different real estate categories.

Credit

Your credit profile carries substantial weight in jumbo loan decisions. Most programs require minimum credit scores around 680, though larger loan amounts or more complex financial situations may demand higher scores. A strong credit history signals responsible financial behavior and can lead to better rates and smoother approval processes.

Down payment

Expect down payment requirements between 10% and 20% of the purchase price for jumbo loans. The precise amount varies based on loan size, property category, and overall borrower qualifications.

Debt-to-income (DTI) ratio

Most lenders prefer DTI ratios under 43%, which includes your projected mortgage payment. Given the larger monthly obligations of jumbo loans, this metric helps lenders verify that your income adequately supports the debt load.

Steady income

Reliable, provable income is critical for jumbo loan approval. Lenders examine W-2 wages, self-employment income, commissions, and bonus structures to gauge long-term financial stability. Depending on your employment type, you may need to provide additional documentation.

Cash reserves

Jumbo mortgages typically require substantial cash reserves remaining after closing. Reserve requirements can extend up to 12 months or more of mortgage payments, depending on loan amount and lender guidelines. Acceptable reserves include checking and savings accounts, retirement funds, or a mix of liquid assets.

For Jumbo Smart Loan borrowers, reserve expectations are generally tiered according to loan size.

The pros and cons of buying a home with a jumbo loan in Florida

Positives

• Highly competitive interest rates: Borrowers with excellent credit and solid financial profiles may secure jumbo mortgage rates that match or even beat conventional loan rates. Strong qualifications, stable employment, and adequate reserves typically improve pricing.
• No private mortgage insurance (PMI): Multiple jumbo programs eliminate PMI requirements, even when down payments fall below 20%. This can reduce monthly costs compared to conforming loans that require mortgage insurance.
• Versatile loan structures: Jumbo mortgages come in both fixed and adjustable rate formats and can be used for primary residences, second homes, or income properties. Certain borrowers may also qualify for FHA or VA jumbo products, depending on their eligibility.

Negatives

• Stricter qualification standards: Jumbo loans demand more thorough review of credit, income, and assets. Borrowers dealing with recent credit challenges or elevated debt may face hurdles or need more time to prepare.
• Larger upfront expenses: Higher loan amounts translate to bigger down payments and closing costs in absolute dollar terms.
• Substantial reserve expectations: Jumbo programs generally mandate more cash on hand after closing, which can reduce liquidity even for well-qualified buyers.

For example, a $1.5 million home with a 15% down payment requires $225,000 upfront. Closing costs ranging from 3% to 6% could add another $45,000 to $90,000 in initial expenses.

Should I consider a jumbo loan when home-buying in Florida?

A jumbo loan could make sense if the Florida home you want to buy exceeds the conforming loan limit for your county. Considering the full financial picture can help you decide whether this mortgage type fits your situation.

Are you comfortable with larger monthly payments? Jumbo mortgages mean bigger ongoing commitments, so your comfort level should go beyond just meeting lender minimums.

• Does the rate structure suit your plans? Jumbo loans offer both fixed and adjustable rate options, and the pricing differences can be more significant at higher loan amounts. Checking current mortgage rates in Florida can help you see how each structure affects your budget.
• Can you manage substantial closing costs? While the percentages are similar to conforming loans, the total dollar amounts are much higher. Advance planning helps avoid surprises when it comes to closing costs.
• Have you reviewed the tax considerations? Mortgage interest deductions may work differently at higher loan balances. Consulting a tax professional can clarify how a jumbo mortgage fits into your overall financial strategy.

The bottom line: A jumbo loan may be the right choice for Florida home buyers

Jumbo loans require stronger credit, more substantial income verification, and larger reserves, but they also open doors to financing that matches the realities of Florida's higher-priced housing markets. With thoughtful planning and a loan structure that works for your budget, a jumbo mortgage can be an effective way to achieve your homeownership goals in Florida.

If you're ready to move forward, applying for a Jumbo Smart Loan is a solid next step.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Refinancing may increase finance charges over the life of the loan.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.