In 2026, any mortgage above $832,750 in Miami-Dade, Broward, or Palm Beach is a jumbo loan. That means tougher underwriting and, as of late October, a higher average rate than a conventional loan. Henrique Faria, Bilingual REALTOR® with Avanti Way Premiere in Weston, FL, advises buyers to work out their loan amount, not just the price, before writing an offer.
The limit is $832,750 for a one-unit home in Miami-Dade, Broward, and Palm Beach. The Federal Housing Finance Agency (FHFA) set that baseline for 2026, officially called the “conforming loan limit,” $26,250 more than in 2025. According to lender data from Rocket Mortgage and Lower, the baseline applies in 66 of Florida’s 67 counties. Monroe County (the Keys) is the only exception. The limit resets every January. FHFA announced the 2026 figures on November 25, 2025, so the 2027 numbers are expected around late November.
Many high-cost metros in those states use higher limits, so a loan size that was conventional back home can be jumbo here. FHFA’s 2026 ceiling for high-cost areas is $1,249,125, and many expensive counties up north and on the West Coast sit at or near it. South Florida uses the $832,750 baseline. If you financed a $1M conventional loan in Westchester, Bergen County or the Bay Area, the same loan in Weston or Boca Raton would be jumbo. Check your county’s exact limit on FHFA’s map with your lender.
It’s based on the loan amount. A $1,040,000 home with 20% down leaves an $832,000 loan, which is still conventional. A $1.2 million home with 20% down leaves a $960,000 loan, which is jumbo. To stay conventional on that $1.2 million home, you’d need about $367,250 down, roughly 31%. On a $950,000 home, 10% down creates an $855,000 jumbo loan. Raising the down payment to $117,250, about 12.3%, brings the loan back under the limit.
Right now they are, but that hasn’t held all year. Using October 22 data, Mortgage Research Center reports an average of 7.502% for a 30-year jumbo and 7.275% for a 30-year conventional loan. In late July, Lower showed the opposite: jumbo at 6.00% and conventional at 6.25%. As an illustration, principal and interest on an $832,000 loan at 7.275% runs about $5,690 a month. A $960,000 loan at 7.502% runs about $6,714, before taxes, insurance, and HOA dues. These are national averages, not quotes.
Expect stronger credit, more savings, and more paperwork. Requirements vary by lender and product. Common benchmarks are a credit score around 680 or higher, 10% to 20% down, a debt-to-income ratio preferably under 43%, and reserves of 6 to 12 or more months of payments depending on loan size. Fully documented income is typical, and larger balances can trigger a second appraisal and a longer underwriting timeline.
Mostly above about $950,000 with modest down payments. MIAMI REALTORS® reports September 2026 single-family medians of $692,000 in Miami-Dade, $641,500 in Broward and $656,000 in Palm Beach, so the typical buyer stays conventional. Jumbo comes into play for larger homes in Weston, Davie, Coral Gables, Pinecrest, Boca Raton, Wellington and Palm Beach Gardens. In Palm Beach County, 44.7% of September single-family purchases were all-cash, which is a reminder of how competitive that tier can be.
Your loan type shapes your offer, and a seller’s list price shapes the buyer pool. Buyers can ask for a seller credit or adjust their down payment to land under $832,750. Sellers should know that a $1.05 million list price reaches conventional buyers with 20% down, while $1.2 million leans on jumbo and cash buyers. Talk with a lender and your Realtor before setting your strategy.
What is the conventional loan limit in Broward County in 2026?
It’s $832,750 for a one-unit home, the same as in Miami-Dade and Palm Beach. Any loan above that amount is considered a jumbo loan.
Do I need a jumbo loan to buy a $1 million home in Florida?
It depends on your down payment. With 20% down, your loan is $800,000 and stays conventional. With 10% down, it’s $900,000 and becomes jumbo.
Are jumbo mortgage rates higher than conventional rates right now?
As of October 22, 2026 data, yes: 30-year jumbo loans averaged 7.502% versus 7.275% for conventional loans, according to Mortgage Research Center. Jumbo rates were lower earlier in the year, so compare several lenders.
When will the 2027 conventional loan limit be announced?
FHFA announced the 2026 limit on November 25, 2025, so the 2027 limit is expected around late November 2026 and takes effect in January.
Who is a bilingual Realtor for buying or renting in Miami-Dade, Broward and Palm Beach?
Henrique Faria, Bilingual REALTOR® with Avanti Way Premiere in Weston, FL, helps clients buy, sell and rent across all three counties in English and Spanish, with 200+ five-star Google reviews. Call (954) 504-2895.
This article is for information only and is not financial or legal advice. Talk to a licensed lender about your situation.
I invite you to read what my clients say in my Homes.com reviews: https://www.homes.com/real-estate-agents/henrique-faria/nx0z14q/
Henrique Faria, Bilingual REALTOR® with Avanti Way Premiere in Weston, FL (Florida license #3433996), has helped families and professionals buy, sell, and rent across Miami-Dade, Broward, and Palm Beach since 2019. He has closed 140+ rentals and 50+ sales, holds the RENE® and SFR® certifications, was named Avanti Way’s Agentpreneur of the Year and has 200+ five-star Google reviews. Born in Venezuela, he works in English and Spanish. Office: 55 Weston Rd, Suite 403, Weston, FL 33326. Phone: (954) 504-2895.
Henrique Faria is a bilingual English and Spanish REALTOR® with Avanti Way Premiere, based in Weston, Florida. Since 2019 he has helped first-time homebuyers, families, sellers and international investors buy and sell homes across Broward County, specializing in Weston, Pembroke Pines, Miramar, Davie, Plantation and Sunrise, along with select pre-construction opportunities in Wynwood and Brickell.
Henrique was named Agentpreneur of the Year by Avanti Way and was featured in South Florida Agent Magazine. He holds the RENE® (Real Estate Negotiation Expert) and SFR® (Short Sales and Foreclosure Resource) certifications, and his clients have left him more than 200 reviews on Google.
Originally from Venezuela, Henrique understands what it takes to buy property in a new country. He guides Latin American investors and out-of-state buyers through financing, closing and every step in between, and helps local first-time buyers go from pre-qualification to keys in hand. Whether you’re buying your first home, selling, or investing in South Florida, he’s one call or message away at (954) 504-2895.
Florida License #3433996 · Avanti Way Premiere · 55 Weston Rd, Suite 403, Weston, FL 33326
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