Florida's luxury coastal markets — Miami Beach, Boca Raton, Naples, Coral Gables — regularly see purchase prices that exceed the $832,750 conforming limit. Clear2 accesses wholesale jumbo lenders who compete on both rate and flexibility, without the overhead of a retail bank margin.
A jumbo loan is any mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency. In 2025, that limit is $832,750 for most Florida counties. Loans above this threshold are not eligible for purchase by Fannie Mae or Freddie Mac, so they are funded by portfolio lenders or sold into the private secondary market. That difference in structure affects pricing, guidelines, and where you should shop.
Jumbo loans are not insured or guaranteed by FHA, VA, or any government agency. Each lender sets its own guidelines, which is why shopping multiple jumbo lenders produces meaningfully different rates and qualification requirements.
Because jumbo loans stay on a lender's books rather than being sold to Fannie Mae, portfolio lenders compete on their own pricing. Wholesale jumbo rates accessed through a broker are often meaningfully lower than retail bank quotes on the same loan amount.
Jumbo programs offer options that conforming loans don't, including interest-only periods, asset-depletion qualifying for high-net-worth borrowers, and loan amounts exceeding $3M through the wholesale network Clear2 accesses.
Oakland County leads Florida in jumbo loan volume. Several communities regularly see transactions in the $800,000 to $3 million range where jumbo financing is the only option.
Florida's wealthiest municipality by median household income. Median sale prices routinely exceed $900,000, with significant volume in the $1.5M to $4M range. Jumbo financing is the norm, not the exception, in this market.
A walkable downtown and excellent schools drive strong demand for Birmingham's higher-end homes. Properties above $850,000 are common, and the city sees regular jumbo transactions through its inventory of larger lots and newer construction.
Grosse Pointe's five communities, particularly Grosse Pointe Shores and Grosse Pointe Farms, carry significant lakefront and estate inventory in the $900,000 to $3M+ range. Jumbo financing is standard for the upper tier of this market.
Banks price jumbo at retail. When you walk into Chase or Flagstar for a jumbo loan, you get that bank's retail rate, which includes branch overhead, marketing costs, and margin. Wholesale pricing strips those layers out.
Jumbo guidelines vary significantly by lender. One lender may require 20% down; another accepts 10%. One may cap loan amounts at $2M; another goes to $4M. Shopping multiple lenders matters more on jumbo than on conforming loans.
The rate difference is meaningful at scale. On a $1.5M jumbo loan, a 0.375% rate improvement saves approximately $465 per month in payment. At jumbo loan sizes, the value of shopping is substantial.
Clear2 shops simultaneously. Rather than applying one lender at a time, Clear2 submits your file to multiple wholesale jumbo lenders and presents the best combination of rate, terms, and fit for your situation.
Rate comparisons are general estimates. Jumbo rates have occasionally been below conforming rates in recent years due to portfolio lender competition. Contact Clear2 for a current rate quote.
Jumbo borrowers in Florida typically fall into one of three situations. Here is how Clear2 approaches each.
An Oakland County couple is selling their $650,000 home in Troy and purchasing a $1.3M home in Bloomfield Hills. With significant equity from the sale, they put 25% down on the new purchase, leaving a $975,000 jumbo loan. Clear2 shops the wholesale jumbo market and finds a rate 0.25% below what their bank quoted on a pre-approval letter.
A Grosse Pointe physician purchases a waterfront property for $2.1M with 20% down, producing a $1.68M jumbo loan. High W-2 income makes qualification straightforward, but rate matters significantly at this loan size. Clear2 accesses three wholesale lenders, identifying the most competitive rate and the fastest close timeline to align with the seller's requirements.
A Birmingham homeowner purchased their home for $780,000 in 2019. It is now appraised at $1.25M. They do a jumbo cash-out refinance to access $280,000 in equity for a business investment, keeping their LTV at 80%. The existing first mortgage was conforming; the new loan exceeds the limit, requiring a jumbo program.
Jumbo loan pricing varies more across lenders than conforming loan pricing does, because each lender sets its own rate sheet based on its portfolio appetite and capital position. A lender that was aggressive on jumbo last quarter may have pulled back, while another has opened up new capacity. That environment rewards borrowers who shop.
Clear2 Mortgage tracks the wholesale jumbo market on behalf of its clients. As Director of Sales, Alec Haddad works with move-up buyers, luxury purchasers, and refinancing homeowners across Oakland County's highest-value markets to structure jumbo loans at competitive wholesale rates.
Clear2 is headquartered in Troy, MI, and licensed throughout Florida. Our team works directly with each borrower from pre-approval through closing with no handoffs.
Alec Haddad is Clear2's Director of Sales, with experience in jumbo and luxury purchase financing throughout Metro Detroit's high-value markets. He works with buyers and existing homeowners to identify the right wholesale jumbo lender and structure transactions to close on timeline.
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What is the jumbo loan threshold in Florida?
A loan is considered jumbo in Florida when it exceeds the 2026 conforming limit of $832,750 for a standard single-family home. Monroe County (Florida Keys) has a higher conforming limit of $990,150, so the jumbo threshold there is higher. For most Florida counties, any loan above $832,750 requires jumbo financing.
How much do I need to put down on a Florida jumbo loan?
Minimum down payment requirements vary by lender. Some wholesale lenders allow 10% down on jumbo loans up to $1.5M for borrowers with strong credit. More commonly, 20% down is the baseline for competitive rates and the elimination of private mortgage insurance. Larger loan amounts and lower credit scores typically require more down payment.
Are jumbo loan rates higher than conventional rates in Florida?
Not always, and not by as much as many borrowers assume. Jumbo rates are typically within 0.125 to 0.375% of conforming rates through the wholesale market. At certain points in recent years, jumbo rates have been at or below conforming rates due to competition among portfolio lenders. The key is shopping, which Clear2 does across multiple wholesale lenders simultaneously.
Can I get a jumbo loan if I am self-employed?
Yes. Many jumbo lenders accept self-employed borrowers with two years of tax returns or, through non-QM programs, bank statements. Some high-net-worth borrowers qualify through asset-depletion methodology, which converts liquid assets into a monthly income figure without requiring traditional income documentation. Clear2 can match your income situation to the right wholesale jumbo program.
What is an interest-only jumbo loan and should I consider it?
An interest-only jumbo loan allows you to pay only the interest on the loan for an initial period, typically 10 years, after which the loan amortizes over the remaining term. This reduces monthly payments significantly during the interest-only period. It is typically used by borrowers with variable income who want payment flexibility, or high-net-worth borrowers who prefer to deploy capital elsewhere during the interest-only window.
Why is an independent broker better for a jumbo loan than going to a bank?
Jumbo loans have more lender-to-lender variation in rate and guidelines than conforming loans. A bank can only offer its own rate sheet. As a wholesale broker, Clear2 submits your file to multiple jumbo lenders simultaneously and identifies the best combination of rate, program structure, and timeline for your transaction. At jumbo loan sizes, the rate difference between lenders often translates to hundreds of dollars per month in payment.
High-value Florida homes deserve competitive wholesale financing. Clear2 shops the jumbo market so you don't have to settle for one bank's rate sheet.
Clear2 Mortgage, LLC. NMLS #1911663. Licensed Mortgage Broker. 2600 W Big Beaver Rd, Suite 100, Troy, MI 48084. Equal Housing Lender. This is not a commitment to lend. All loans subject to credit approval, property appraisal, and underwriting guidelines. Rates and terms subject to change without notice.
