What is a Jumbo Mortgage Loan?

What is a Jumbo Mortgage Loan?

If you are dreaming about buying a luxury home in Florida you will need to apply for a jumbo loan to make your dream come true.

Jumbo loans are designed for buying expensive, higher-end luxury homes that exceed the loan limits of a conventional loan.

The conforming loan limit is set each year by the Federal Housing Finance Agency (FHFA).

In 2022 the Federal Housing Finance Agency (FHFA) set the limits for a conventional home loan in Florida at $647,200.

When your loan requirements to buy your luxury home exceeds $647,200, this is when you need a jumbo loan.

Jumbo loans are typically used to help people purchase a luxury home, second home, vacation home, or investment property.

If you are in the process of buying a luxury home in Tampa, you can start your jumbo loan application at: Jumbo Loan Tampa