Florida jumbo loan rates and requirements.
Loans above $806,500 in Florida require jumbo financing. Palm Beach County’s luxury market — from Boca Raton to Palm Beach Island — runs heavily on jumbo product.
Rates and requirements by loan size.
Jumbo loans are portfolio products — not sold to Fannie Mae or Freddie Mac. Each lender sets their own guidelines. Requirements tighten as loan size increases. Below is a general framework. Get a personalized quote for exact rates on your purchase.
| Loan Range | Min Down | Min Score | Rate | Notes |
|---|---|---|---|---|
| $806,501–$1.5M | 10–20% | 700+ | Contact for rate | Most lender programs |
| $1.5M–$2.5M | 20% | 720+ | Contact for rate | Portfolio/private banking |
| $2.5M–$5M | 20–30% | 740+ | Contact for rate | Private bank preferred |
| $5M+ | 30%+ | 760+ | Contact for rate | Private banking / wealth mgmt |
Jumbo rates vary by lender, credit score, LTV, and reserves. Submit a pre-approval request for your personalized rate.
No PMI on Jumbo Loans
Unlike conventional loans under 20% down, most jumbo products do not require PMI. Instead, lenders compensate through higher rates or stricter LTV requirements. 20% down is standard across most jumbo programs.
Reserves Requirement
Jumbo underwriting focuses heavily on reserves — post-closing liquid assets. Typically 6–12 months of PITI (principal, interest, taxes, insurance) required. On a $1.5M purchase at $9,000/mo, that's $54,000–$108,000 in reserves after closing.
Asset Depletion / Asset-Based Qualifying
High-net-worth borrowers with significant investable assets but lower income can qualify through asset depletion — dividing total assets by the loan term to generate qualifying income. A $3M portfolio can generate $8,333/mo in qualifying income on a 30-year term.
Jumbo vs Two Conforming Loans
On purchases just above $806,500, a piggyback strategy (80/10/10 or 80/15/5) may produce a better rate than a single jumbo loan. A first mortgage at $806,500 + a second mortgage for the remainder may undercut jumbo pricing.
10% Down Jumbo Programs
Some lenders offer 10% down jumbo loans up to $2M for borrowers with 720+ credit scores and strong income/reserves profiles. Rates carry a premium vs 20% down, but availability has expanded.
Jumbo for Investment Properties
Jumbo investment property loans require 25–30% down and typically 740+ credit. DSCR jumbo products are available for investors who prefer to qualify on rental income rather than personal income documentation.
Equal Housing Lender. Jumbo loan availability and rates are subject to change without notice. Not a commitment to lend. All loans subject to credit and income approval. NMLS# 1859012. Licensed in Florida.
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