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2023 Florida Jumbo Loan Limits

By
Real Estate Agent with Optima Properties BK 496540

A jumbo loan is a type of mortgage loan that’s used to finance loans that exceed the conforming loan limit. In the United States, the Federal Housing Finance Agency (FHFA) sets loan limits for conforming loans each year.

If the home you’re purchasing will require you to borrow more than the conforming loan limit (CLL), you’ll need to apply for a jumbo loan. But because of the larger loan amounts and increased risk for lenders, Florida jumbo loans often come with higher interest rates and stricter requirements than conventional loans.
 
In 2023, the conforming loan limit for most U.S. real estate markets is $726,200. However, the jumbo loan limit in Florida depends on what county you’re planning to buy a home in.
 
·      $726,200 is the conforming loan limit in most Florida counties.
·      $874,000 is the maximum limit in Monroe County
 
Read the full article on Optima Properties' Blog

Comments(4)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Kim. Thanks for the info. Being retired, II don't pay much attention anymore. Enjoy your day.

Jun 17, 2023 05:19 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Jun 17, 2023 05:30 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great jumbo information to share. Have a super fantastic weekend!

Bill Salvatore, Realtor- Arizona Elite Properties

Jun 17, 2023 06:05 AM
Charles Ross - eXp Realty LLC
eXp Realty LLC Salina Group - Salina, KS
Love To Help People

Excellent information.Thank you for sharing. Have a wonderful day and a blessed week.

Jun 17, 2023 05:41 PM