A jumbo loan is a type of mortgage loan that exceeds the loan limits set by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy and guarantee most conventional mortgages in the United States. Each county will have a different maximum conforming loan limit. Loans that exceed this limit are considered jumbo loans.
Because jumbo loans exceed the loan limits for conventional mortgages, they are considered higher risk and typically have stricter eligibility requirements. Borrowers may need to have a higher credit score, a larger down payment, and a lower debt-to-income ratio to qualify for a jumbo loan. Additionally, jumbo loans often have higher interest rates compared to conventional loans, which can result in higher monthly payments.
Jumbo loans are often used by homebuyers who are looking to purchase high-value properties in expensive housing markets, such as California, New York, or Hawaii. They can also be used to finance second homes or investment properties. If you’re considering a jumbo loan, it’s important to do your research and work with a reputable lender to ensure you understand the terms of the loan and can afford the monthly payments. Reach out to a Valiant Mortgage loan officer today!
Here are the 2023 conforming loan limits for Florida:
COUNTY |
2023 One-Unit
|
2023 Two-Unit
|
2023 Three-Unit
|
2023 Four-Unit
|
| Alachua | $726,200 | $929,850 |
$1,123,900 |
$1,396,800 |
| Baker | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Bay | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Bradford | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Brevard | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Broward | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Calhoun | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Charlotte | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Citrus | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Clay | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Collier | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Columbia | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Desoto | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Dixie | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Duval | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Escambia | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Flagler | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Franklin | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Gadsden | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Gilchrist | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Glades | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Gulf | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Hamilton | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Hardee | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Hendry | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Hernando | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Highlands | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Hillsborough | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Holmes | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Indian River | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Jackson | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Jefferson | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Lafayette | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Lake | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Lee | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Leon | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Levy | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Liberty | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Madison | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Manatee | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Marion | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Martin | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Miami-Dade | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Monroe | $874,000 | $1,118,900 | $1,352,450 | $1,680,800 |
| Nassau | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Okaloosa | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Okeechobee | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Orange | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Osceola | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Palm Beach | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Pasco | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Pinellas | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Polk | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Putnam | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| St. Johns | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| St. Lucie | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Santa Rosa | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Sarasota | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Seminole | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Sumter | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Suwannee | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Taylor | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Union | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Volusia | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Wakulla | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Walton | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Washington | $726,200 | $929,850 | $1,123,900 | $1,396,800 |