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County | FHFA Limit | FHA Limit |
Broward | $726,200 | $557,750 |
Miami-Dade | $726,200 | $557,750 |
Palm Beach | $726,200 | $557,750 |
Sarasota | $726,200 | $472,030 |
What does a jumbo loan mean?
When anyone talks about a jumbo loan, it is a type of conventional loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA) for Fannie Mae and Freddie Mac. Now in 2023, single-family mortgages with balances higher than $726,200 in most U.S. counties (and $1,089,300 in high-cost areas) will be considered jumbo.