Florida Jumbo Loans for Purchase or Refinance
Why Choose a Jumbo Loan in Florida
Financing for the Home You Have in Mind
A jumbo mortgage provides financing above the conforming loan limit for your property’s location and number of units. Whether you’re purchasing a Florida home or refinancing one you already own, it offers options when your financing needs go beyond those limits.
At Select Home Loans, we offer jumbo loan options up to $5 million for eligible borrowers and properties. Financing may be available for primary homes, second homes, and investment properties, including options to access available equity through a cash out refinance.
We help you compare available programs through our lending partners and understand the payments, closing costs, and financial requirements. From your first questions through closing, we’re here to help you move forward with clarity.
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Why choose Select Home Loans?
- Diverse mortgage options: Conventional, FHA, VA, Reverse Mortgages, Jumbo, Non-QM Loans, HELOC, Second Mortgages, and DSCR Loans.
- Trusted reputation: A+ Rated and accredited by the Better Business Bureau.
- Customized service: Solutions crafted to meet your specific requirements.
- Established credibility: A reputation built on trust and experience.
Jumbo Mortgage Options for Florida Buyers and Homeowners
Your financial picture may include more than a salary. Alongside traditional income documentation, available jumbo programs may offer bank statement qualification for business owners or asset depletion options for borrowers with substantial eligible savings and investments.
We start with your goals, property, and preferred loan amount. Your credit, income, down payment or equity, and funds remaining after closing help shape your available options. We’ll explain those requirements and help you compare loan structures with your budget and longer term plans in mind.
Whether you’re considering a coastal home, a condo, or another eligible Florida property, we help you understand the property review and documentation involved. If you’re refinancing, we’ll also compare the proposed financing with your current mortgage so you can weigh the costs and potential benefits.
Frequently Asked Questions
Do I need perfect credit to qualify for a jumbo mortgage
No. Some available jumbo programs consider credit scores starting at 660, although requirements increase for certain loan amounts and financing structures. Your income, debts, down payment or equity, and reserves also matter. We’ll review the full picture and help you understand your options.
Do I need a large down payment for a jumbo loan
Not always. Available options depend on your loan amount, credit, property, and how you plan to use the home. We’ll help you compare down payment choices and explain how each affects your payment, pricing, and the savings you’ll need after closing.
Why do jumbo lenders ask for reserves
Reserves are eligible funds remaining after your down payment and closing costs. They help demonstrate that you can manage mortgage payments beyond closing. Depending on the program, certain savings, investment, and retirement accounts may count. We’ll explain what’s needed and which assets can be considered.
Can I get a jumbo mortgage if I’m self employed or retired
Yes. Traditional jumbo programs may consider documented business earnings, retirement income, and other eligible income sources. We also offer alternative qualification options, including bank statement and asset depletion programs. We’ll help you explore which approach fits your financial picture.
Can I use a jumbo loan for a Florida condo or second home
Yes, financing may be available for eligible condos and second homes. Condo financing also involves reviewing the building, association finances, insurance, and other project requirements. We’ll help you understand the options for the property you have in mind, including certain condos that don’t meet standard agency requirements.
Can I access equity through a jumbo cash out refinance
Yes, eligible homeowners may access equity by replacing their existing mortgage with a larger jumbo loan. The amount available depends on your property value, current mortgage balance, qualifications, and program. We’ll compare the new payment and costs with your existing financing so you can decide whether it supports your plans.