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Loans above the conforming limit · Florida
Florida Jumbo Mortgage Rates
When the loan you need is larger than $832,750, you are in jumbo territory, and the gap between the best and worst jumbo offers is wider than anywhere else in lending. We compare multiple jumbo lenders on rate, structure and closing costs so a higher-value home gets financing to match.
We specialize in Florida jumbo mortgage financing.
A jumbo loan is any mortgage above the conforming limit set each year for Fannie Mae and Freddie Mac. Because those agencies cannot buy it, the lender either keeps the loan or sells it to a private investor, and each one writes its own rules for credit, income, reserves and property types. Two lenders can look at the same file and quote rates a half point apart, or one can approve what the other declines.
That is where a broker earns the fee. We work with buyers and homeowners across Florida who need loan amounts above the conforming limit, compare jumbo rates, terms and closing costs from multiple lenders, and package the file the way each one wants to see it: income documented, assets sourced and reserves shown up front.
If you would like to compare jumbo pricing with other programs, see today’s Florida mortgage rates or run your own scenario in the rate engine.
Today’s Florida Jumbo Mortgage Rate
Par rate from our pricing engine for a $950,000 loan on a $1,187,500 single-family primary residence in Miami-Dade County, 780+ credit, 30-day lock. Based on approved credit and subject to change. Jumbo pricing depends heavily on loan size, down payment and reserves, so run your own numbers.
Jumbo next to conforming, government and 15-year pricing
$713 lender credit
No points, no credit
0.125 points
0.162 points
$672 lender credit
Par rate per program, Miami-Dade County, 780+ credit, 30-day lock, escrows included; the jumbo cell is priced on a $950,000 loan. Jumbo rates are sometimes at or below conforming rates for strong borrowers. Price your own Florida scenario, no credit pull.
Florida Jumbo Loan Benefits: High-Value Financing for High-Value Homes
Jumbo financing makes it possible to buy or refinance a higher-priced Florida home with a single loan instead of stacking a first and second mortgage.
One loan, one payment
No piggyback second mortgage at a higher, often variable, rate to bridge the gap above the conforming limit.
Down payment from 10%
Strong borrowers can find programs at 10% down, and some without monthly mortgage insurance.
Fixed or adjustable
30 and 15-year fixed rates, plus 7/6 and 10/6 ARMs that jumbo lenders often price well below their fixed rates.
Interest-only options
Lower required payments during an initial period, useful for borrowers with bonus or commission income.
Second homes
Waterfront and vacation homes across Florida, financed on the same terms as many primary homes.
Cash-out and refinance
Lower your rate, remove a second mortgage or take equity out of a high-value property.
What jumbo lenders look for
- Credit: most programs start around 680 to 700, with the best pricing at 740 to 760 and above.
- Down payment: 10% to 20% on a primary home depending on loan size, more on second homes and on loans above $1.5 million to $2 million.
- Debt to income: usually 43% or less, sometimes up to 45% to 50% with large reserves.
- Reserves: commonly 6 to 12 months of the full payment after closing, and more for larger loans or when you own other properties.
- Income: full documentation for most programs: two years of tax returns and W-2s. Self-employed borrowers can use bank statement jumbo loans.
- Appraisal: a full appraisal, often reviewed closely, and a second appraisal on larger loan amounts at many lenders.
How much a jumbo loan asks for in reserves
Reserves are measured in months of the full payment, so they grow with the house and with Florida’s tax and insurance costs. Here is a $1,500,000 Miami-Dade home with 20% down at today’s jumbo rate.
| $1,500,000 home, $1,200,000 loan at 6.500% | Monthly |
|---|---|
| Principal and interest | $7,585 |
| Property tax, homesteaded | $1,500 |
| Homeowners insurance, county average scaled to value | $1,063 |
| Full payment before flood and HOA | $10,147 |
| 6 months of reserves | $60,884 |
| 12 months of reserves | $121,768 |
Reserves can usually be held in checking, savings, brokerage and retirement accounts, with retirement funds often counted at a discount. They stay yours after closing; the lender only needs to see them.
Jumbo Loans in Florida for High-Value Purchases and Refinances
Jumbo mortgages are used for primary homes, second homes and high-end properties in Florida’s most competitive markets, from Miami Beach and Coral Gables to Boca Raton, Naples and the Keys. A few Florida details matter more at this size:
- Florida mortgage taxes scale with the loan. Documentary stamps on the note (0.35%) and intangible tax (0.2%) come to $6,600 on a $1,200,000 loan, paid at closing.
- Insurance drives the payment. Wind, flood and roof age move premiums on coastal homes far more than on inland ones; get quotes before you commit.
- Condos get extra review. High-rise buildings must satisfy the lender’s condo review, including Florida’s milestone inspection and reserve rules. Some jumbo and portfolio lenders accept non-warrantable buildings that agency loans cannot.
- Homestead protects the primary home. File by March 1 after you buy for the exemption and the Save Our Homes cap on assessment increases.
Whether you are buying or refinancing, we guide you from pre-approval through closing with experienced jumbo support, and structure the loan for long-term affordability rather than just the lowest first-year payment.
See if you qualify for a jumbo loan
Tell us the price, loan amount and occupancy. We will compare jumbo lenders on rate, structure and costs, and tell you exactly what reserves and documents each one will want.
- Multiple jumbo lenders compared
- Fixed, ARM and interest-only options
- A pre-approval letter for competitive offers
Prefer to talk it through? Call 954-494-7288.
Tell us about the loan
No credit pull. A loan officer follows up, usually the same day.
Frequently Asked Questions: Jumbo Loans
What is a jumbo loan?
A mortgage larger than the conforming loan limit, $832,750 for a single-family home in most of Florida in 2026 and $990,150 in Monroe County. Because Fannie Mae and Freddie Mac cannot buy it, it is a non-conforming loan and each lender sets its own guidelines.
How much can I borrow with a jumbo mortgage?
Jumbo loans start just above the conforming limit and can reach several million dollars. Your maximum depends on credit, income, assets, reserves, the property and the lender, and larger loans usually need larger down payments.
Do jumbo loans require a down payment?
Yes. Minimums typically range from 10% to 20% on a primary home, with more required for second homes, investment properties and very large loans. A larger down payment can improve pricing and widen your lender options.
Do I have to pay private mortgage insurance (PMI)?
Not always. Some jumbo lenders offer programs with less than 20% down and no monthly PMI, building the risk into the rate instead. Others use mortgage insurance. We show both structures so you can compare the true cost.
What credit score is needed for a jumbo loan?
Most jumbo lenders look for 680 to 700 at minimum, and scores in the mid to high 700s get the best pricing. Approval looks at the whole profile: income stability, debt, assets and reserves all matter.
Do jumbo loans require cash reserves?
Yes. Lenders usually want several months of the full payment, principal, interest, taxes and insurance, left in liquid or vested accounts after closing. Six to twelve months is common, more for larger loans or multiple properties.
Can I use a jumbo loan for a second home or vacation home?
Yes. Many jumbo programs finance primary residences and second homes, including vacation homes. Investment property jumbo financing exists but is more limited and usually needs more down and a higher rate.
Are there closing costs with a jumbo loan?
Yes: appraisal, title, lender fees and, in Florida, documentary stamp and intangible taxes on the new mortgage. Because the loan is larger, title premiums and those taxes are larger too, and some loans need a second appraisal.
Is an appraisal required for a jumbo mortgage?
Yes. A full appraisal is required, and for larger loan amounts many lenders require a second appraisal or a field review. The property must support the loan amount and meet the lender’s condition standards.
Can I have a co-borrower on a jumbo loan?
Yes. Income and assets from both borrowers can help you qualify, and both credit profiles are reviewed. A stronger combined file generally earns a more competitive jumbo rate.
Our Reviews
What Florida borrowers say after closing with On Mortgage. Five stars on Google (130 reviews) and Zillow (92 reviews).
“Caroline Da Silva from Miami Mortgage Brokers just got us approved for our first mortgage, and we would definitely work with her again after this experience! From the moment our broker connected us with Caroline, she was always several steps ahead throughout the process. We were impressed that Miami Mortgage Brokers had us clear to close a week early,...”
“Chris was outstanding throughout the entire transaction! Always accessible and was able to provide the best financing option when others could not! I would highly recommend him and hope to do more transactions with him.”
“I recently had the pleasure of working with Chris as my loan officer, and I cannot speak highly enough of his exceptional service. He guided me through every step with clarity and patience. What truly sets Chris apart is his remarkable efficiency: not only was he incredibly responsive to my inquiries, but he also expedited the loan process, resulting in the...”
Compare Florida jumbo lenders in one place
Get a no-obligation jumbo rate and closing cost analysis, or price your own scenario in the rate engine with no credit pull.