What is a Jumbo Loan in Florida?
A Jumbo Loan in Florida is a loan that exceeds the conforming loan limits as set by Fannie Mae and Freddie Mac.
So what is a jumbo loan amount? As of 2019, the limit is $484,350 for most of the US, apart from Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $726,525.
Rates tend to be a bit higher on jumbo loans because lenders generally have a higher risk. Jumbo mortgages rates will vary, but most down payments are typically 10%-25% down. Underwriting standards tend to be a bit stricter since it is manually underwritten instead of having an automated underwrite.
We’re here to make the jumbo home loan process as easy as possible, with our technology and skill we will help guide you along the way, starting with our FREE Jumbo Loan Qualifier.
The Jumbo Loan Process
Here’s how our home loan process works:
- Complete our Jumbo Loan Qualifier Here
- Receive a couple of estimates to choose from
- Compare rates and terms from our worksheets
- Choose the best worksheet that works for you