By Josh Richardson (NMLS 2448184) and Anna Richardson (NMLS 2045806) | Updated September 2026
A jumbo loan is a mortgage larger than the conforming loan limit, which is $832,750 for a one-unit home in 2026 according to the Federal Housing Finance Agency. Many waterfront and South Tampa purchases exceed that number, so lenders’ jumbo guidelines matter for many Tampa Bay buyers.
Why jumbo loans are underwritten differently
Jumbo loans cannot be sold to Fannie Mae or Freddie Mac, so each lender sets its own rules. Common differences from a conforming loan include:
- Larger reserve requirements, meaning more months of payments in savings after closing.
- Stricter credit score and debt-to-income standards.
- More documentation of assets and income.
- Sometimes a larger down payment.
Requirements vary widely from lender to lender, which is where a broker helps. We compare jumbo options across our 140+ lenders for you instead of offering one lender’s program.
Fixed-rate or adjustable?
Some jumbo borrowers choose an adjustable-rate mortgage (ARM) for a lower initial payment. That can make sense if you expect to sell or refinance within the fixed period, but the payment can change afterward. We show you the worst-case payment, not only the starting one. [Link to your ARM article.]
Florida-specific costs to plan for
On a high-priced Florida home, homeowners insurance, flood insurance and, for condos, association fees can change the monthly payment significantly. We include them in the numbers before you make an offer.
When a jumbo loan is not the only option
If your purchase is near the limit, a larger down payment can bring the loan amount under $832,750 and into conforming territory. We show both scenarios. [Add an example with hypothetical numbers, clearly labeled as an example.]
Frequently asked questions
What is the jumbo loan limit in Tampa Bay? Loans above $832,750 for a one-unit home are jumbo in 2026. FHFA sets the limit each year.
Do I need 20% down for a jumbo loan? It depends on the lender and your profile. Some lenders allow less, and we compare their requirements.
Can I use a jumbo loan for a second home or investment property? Sometimes, with stricter terms. Tell us the purpose and we will check the options.
Ready to talk? Call (727) 888-6650 or start a pre-qualification.
Your Home Loan Team, powered by GoRascal (NMLS 2072896), Tampa, FL. Equal Housing Opportunity. All loan approvals are conditional, not guaranteed, and subject to lender review of all information. A loan is conditionally approved when the lender has issued an approval in writing, but until all conditions are met, a loan cannot be funded. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. GoRascal is an Equal Opportunity Mortgage Broker headquartered in Brooklyn, NY. This licensee is performing acts for which a mortgage broker license is required. GoRascal is licensed by the Florida Office of Financial Regulation, NMLS# 2072896. GoRascal is approved to originate Conventional, FHA, VA, and USDA loans, and has the ability to broker such loans to Conventional, FHA, VA, and USDA approved lenders. GoRascal is not acting on behalf of or at the direction of HUD/FHA or the VA. Government & Licensing Disclosures | NMLS Consumer Access
