Jumbo Loans
Jumbo mortgages in Florida
Financing for properties above the conforming limit, where standard credit no longer reaches. Common in Miami, Brickell, Aventura and Sunny Isles.
When your purchase enters jumbo territory
A jumbo loan is one that exceeds the conforming limit, the annual cap set by the federal agencies, which in most Florida counties sits around eight hundred thousand dollars. Above that amount the loan stops being standardized and is underwritten individually.
That has two consequences. First, more is asked of you: a larger down payment, more reserves and closer scrutiny of your standing. Second, and less obvious, there is more room to negotiate, because each deal is structured on its own. Presenting the file well matters far more here than on a standard loan.
Who is it for?
For high-value purchases where standard credit falls short
Premium condo buyers
Brickell, Edgewater, Aventura and Sunny Isles, where values sit comfortably above the conforming limit.
Homes in established areas
Coral Gables, Pinecrest, Weston and the coastal areas of South Florida.
Portfolio investors
Buyers financing several properties who need a tailored credit structure.
How we move forward
More analysis, more preparation and a carefully presented file
Standing analysis
Net worth, income, reserves and how the property will be held.
Structuring
We define down payment, term and whether one or several loans make sense.
Submission
The file is assembled and presented with the detail this type of loan demands.
Appraisal and closing
Appraisal —sometimes two at high amounts—, underwriting and signing.
Typical program terms
Common market ranges. Final terms depend on the case.
Term
15-30
Years, fixed payment
Financing
60-70%
Of property value
Down payment
30-40%
Plus closing costs and reserves
Reserves
6-12 months
Of payments, available at closing
About these numbers
Results are illustrative estimates based on Florida market averages. They are not a credit offer, a pre-approval or a lending commitment. Final terms depend on the lender, the applicant's profile and the property.
Frequently asked questions
What exactly is the conforming limit?
It is updated every year and varies by county. Across most of Florida it sits around eight hundred thousand dollars. Check the current figure for the specific county before structuring the deal.
Can a foreign national take a jumbo loan?
Yes. Foreign national criteria combine with jumbo criteria: more down payment and more reserves, documented from your home country instead of a US score.
What are reserves and why are they required?
They are liquid funds that must remain available after closing, measured in months of payments. They show the lender you can sustain the payment if something unexpected happens.
Does it make sense to split the purchase into two loans?
Sometimes yes, especially if it keeps part of the financing within the conforming limit. It is one of the decisions with the largest impact on total cost and is decided case by case.
How long does a jumbo take?
Usually somewhat longer than a standard loan given the depth of analysis and appraisals. Planning 45 to 60 days from contract is reasonable.
Let's structure your deal
At high amounts, how the file is built changes the final terms. Let's talk before it goes in.