Jumbo loan
Jumbo Loans in Florida and Texas
Financing for homes that exceed conventional loan limits. TrueVet Mortgage offers jumbo loan options for higher-priced properties in Florida and Texas. Scott Carlin, NMLS# 2613509. Call 321-364-4461.
What Is a Jumbo Loan?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In 2026, the conforming loan limit is $832,750 for most counties in Florida and Texas. If you need to borrow more than that amount, you need a jumbo loan.
Jumbo loans are not backed by Fannie Mae or Freddie Mac, which means lenders take on more risk. As a result, jumbo loans typically have stricter qualification requirements, including higher credit scores, larger down payments, and more extensive documentation. However, for buyers purchasing higher-priced properties, a jumbo loan is often the only path to financing.
TrueVet Mortgage offers jumbo loan options for qualified buyers in Florida and Texas. Whether you are purchasing a waterfront home on the Space Coast, a property in a premium San Antonio neighborhood, or a home in one of Florida’s higher-cost coastal markets, Scott Carlin can help you navigate the jumbo loan process. Call 321-364-4461.
When Do You Need a Jumbo Loan?
You need a jumbo loan when the purchase price of your home requires a mortgage that exceeds the conforming loan limit for your county. Here are common scenarios:
Purchasing a home priced above $832,750 in most Florida and Texas counties with less than 20% down. If your loan amount after your down payment exceeds the conforming limit, you are in jumbo territory.
Buying in a high-cost area. Some counties have higher conforming limits. Scott can check the specific limit for your county to determine whether you need a jumbo loan or if a conventional loan will work.
Refinancing a high-balance mortgage. If your current loan balance exceeds conforming limits and you want to refinance, you will need a jumbo refinance.
It is worth noting that VA loans do not have a maximum loan amount for borrowers with full entitlement. If you are a veteran or active-duty service member with full VA loan entitlement, you may be able to purchase a higher-priced home with a VA loan and zero down payment — without needing a jumbo loan at all. Visit our VA Loan page to learn more, or call Scott to check your entitlement.
Jumbo Loan Requirements
Because jumbo loans carry more risk for lenders, qualification requirements are higher than conventional loans:
Credit score of 700 or higher. Most jumbo lenders require a minimum credit score of 700, with the best rates available to borrowers at 740 and above.
Down payment of 10% to 20% or more. Jumbo loans typically require at least 10% down, with many lenders requiring 15% to 20%. The more you put down, the better your rate and terms.
Debt-to-income ratio of 43% or lower. Lenders want to see that your total monthly debts, including your new mortgage payment, do not exceed 43% of your gross monthly income. Some lenders may allow up to 45% with strong compensating factors.
Cash reserves. Most jumbo lenders require 6 to 12 months of mortgage payments in liquid reserves (savings, investments, or retirement accounts) after closing. This is significantly more than conventional loans, which may require little to no reserves.
Full documentation. Expect to provide at least two years of tax returns, W-2s, bank statements, and investment account statements. Self-employed borrowers may need additional documentation including profit and loss statements.
Property appraisal. Jumbo loans require a thorough appraisal, and some lenders may require two appraisals for higher loan amounts.
Scott Carlin can review your financial profile and let you know if you qualify for a jumbo loan — or if a VA loan or conventional loan might be a better fit. Call 321-364-4461 or visit our Schedule a Call page.
Jumbo Loan vs. VA Loan for Higher-Priced Homes
If you are a veteran or active-duty service member looking to purchase a higher-priced home, you may not need a jumbo loan at all. Here is why:
VA loans have no maximum loan amount for borrowers with full entitlement. This means you can purchase a home above $832,750 with zero down payment using a VA loan, as long as you have full entitlement and the lender approves the loan.
VA loans have no monthly mortgage insurance. Even on a high-value home, you will never pay monthly mortgage insurance with a VA loan. A jumbo loan may or may not require mortgage insurance depending on your down payment.
VA loans require no cash reserves. Unlike jumbo loans, which typically require 6 to 12 months of reserves, VA loans have no reserve requirement in most cases.
VA loan credit requirements are more flexible. Most VA lenders require a 580 to 620 credit score, compared to 700 or higher for jumbo loans.
The main trade-off is the VA funding fee, which ranges from 1.4% to 3.6% of the loan amount depending on your down payment and whether it is your first use. However, the funding fee can be financed into the loan and is waived entirely for veterans with a service-connected disability.
For most VA-eligible buyers purchasing a higher-priced home, a VA loan will save you significantly more money than a jumbo loan. Scott Carlin can run a side-by-side comparison for your specific situation. Visit our VA Loan page or call 321-364-4461.
Frequently Asked Questions About Jumbo Loans
What is the conforming loan limit for 2026?
The 2026 conforming loan limit is $832,750 for most counties in Florida and Texas. Loans exceeding this amount require jumbo financing unless you are using a VA loan with full entitlement.
What credit score do I need for a jumbo loan?
Most lenders require a minimum credit score of 700 for jumbo loans. Borrowers with scores of 740 or higher typically qualify for the best rates and terms.
How much down payment do I need for a jumbo loan?
Most jumbo loans require 10% to 20% down. Some lenders may offer options with as little as 10% down for well-qualified borrowers, while others require 15% to 20%.
Are jumbo loan interest rates higher than conventional rates?
Not necessarily. Jumbo rates have become increasingly competitive and are sometimes comparable to conventional rates for borrowers with excellent credit and large down payments. However, rates vary by lender and borrower profile.
Can a veteran avoid a jumbo loan?
Yes. VA loans have no maximum loan amount for veterans with full entitlement. This means a VA-eligible buyer can purchase a home above the conforming limit with zero down payment and no monthly mortgage insurance. Call Scott at 321-364-4461 to check your VA entitlement.
Can I use a jumbo loan to buy an investment property?
Yes. Jumbo loans can be used for primary residences, second homes, and investment properties. Down payment and reserve requirements are typically higher for non-primary residences.
How long does it take to close a jumbo loan?
Jumbo loans may take slightly longer to close than conventional loans due to additional underwriting requirements. Most jumbo loans close in 30 to 45 days. Scott works to keep the process moving efficiently.
Need Financing for a Higher-Priced Home? Call Scott Carlin at 321-364-4461 or visit our Schedule a Call page. Scott can help you determine whether a jumbo loan, VA loan, or conventional loan is the right choice for your purchase.
Start Your Journey with TrueVet Mortgage
Ready to take the next step in securing your dream home? At TrueVet Mortgage, we’re here to simplify the mortgage process and provide you with the expert guidance you need. Whether you’re a first-time homebuyer or looking to refinance, we offer.
