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