If you’re purchasing a higher-priced home in Brevard County, you may run into what’s called a jumbo loan. It sounds complicated, but it’s really just a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency. Here’s what you need to know.
What Is a Jumbo Loan?
In 2026, the conforming loan limit for most of Florida is $806,500. If you need to borrow more than that, you’ll need a jumbo loan. These are non-conforming loans, meaning lenders set their own guidelines.
Who Needs a Jumbo Loan on the Space Coast?
While Brevard County is generally more affordable than coastal markets like Miami or Naples, there are plenty of waterfront homes, luxury properties, and newer construction developments where prices push above the conforming limit. Oceanfront in Cocoa Beach, riverfront estates in Merritt Island, and high-end new construction in Viera are all examples.
Jumbo Loan Requirements
- Credit score: Typically 700 or above, with 720+ preferred
- Down payment: Usually 10% to 20%
- DTI ratio: Most lenders want 43% or below
- Cash reserves: Many lenders require 6 to 12 months of mortgage payments in savings after closing
Jesse Griffith has access to multiple jumbo loan programs and can find the right fit for your situation. Call or text 321-501-9579 to explore your options.