Conforming loan limits for Florida - 2019

Nice Florida house
The conventional mortgage loans are not (technically) backed by the Federal government. The FHA, VA and USDA are all guaranteed or insured by the Federal government.

The conventional mortgages meet the underwriting (guidelines) of two quasi-government agencies, Freddie Mac (Federal Home Loan Corporation) and Fannie Mae (Federal National Mortgage Association). Freddie Mac and Fannie Mae purchase mortgage loans from banks and mortgage companies. Think of Fannie and Freddie as a bank’s banker.

The lender finances the sale and after settlement, sells the loan to either Fannie or Freddie. The bank or mortgage company is reimbursed by one of the agencies and earns a commission on the sale.

One of the conditions of the sale to Fannie or Freddie is that they limit the size of the mortgage. The lending limit is set each year by the Federal Housing Finance Agency (FHFA). These loans are said to “conform” to the lending limit (and other guidelines). See below

The companies require a minimum down payment of 5%, although, Fannie Mae offers two 3% down payment programs for first time home buyers. The Conventional 97 loan program and the HomeReady™ 3% down payment program

The conventional mortgages require mortgage insurance for down payments less than 20%. There is no "upfront" mortgage insurance like the FHA, VA, or USDA loan programs. The mortgage insurance cost increases as the credit score decreases. The FHA and USDA also require mortgage insurance, however the mortgage insurance cost is not affected by the credit score.

The conventional mortgages are available for home purchases and mortgage refinance. The conventional mortgages have a higher lending limit than the FHA mortgages.

The interest rates for borrowers with low credit scores or a small down payment can be a little higher than the government mortgages because they are not supported by the Federal government.

The lending limit is usually higher with conventional loans than FHA mortgages. The Veteran's Administration uses the one unit limit as the loan limit for 1 to 4 unit VA loans.

The conventional home loan can be used with the Federal Home Loan Bank of Atlanta home buyer grant/assistance programs. The First-time Homebuyer Product (FHP) is a four to one matching grant up to a maximum subsidy of $5,000.

The Community Partner's program is provided for current or retired law enforcement officers, educators, firefighters, health care workers, and other first responders who are first-time home buyers or non-first-time home buyers. The down payment/closing cost assistance with this program is up to $7,500. Read more

2019 Conforming Loan Limits for Florida

Loan exceeding these limits are called jumbo mortgages.

One-Unit is a single family home or condominium
Two-Unit is two separate living units (duplex)
Three-Unit three separate living units (triplex)
Four-Unit  four separate living units (fourplex)

County Name One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit
ALACHUA 484,350 620,200 749,650 931,600
BAKER 484,350 620,200 749,650 931,600
BAY 484,350 620,200 749,650 931,600
BRADFORD 484,350 620,200 749,650 931,600
BREVARD 484,350 620,200 749,650 931,600
BROWARD 484,350 620,200 749,650 931,600
CALHOUN 484,350 620,200 749,650 931,600
CHARLOTTE 484,350 620,200 749,650 931,600
CITRUS 484,350 620,200 749,650 931,600
CLAY 484,350 620,200 749,650 931,600
COLLIER 484,350 620,200 749,650 931,600
COLUMBIA 484,350 620,200 749,650 931,600
DE SOTO 484,350 620,200 749,650 931,600
DIXIE 484,350 620,200 749,650 931,600
DUVAL 484,350 620,200 749,650 931,600
ESCAMBIA 484,350 620,200 749,650 931,600
FLAGLER 484,350 620,200 749,650 931,600
FRANKLIN 484,350 620,200 749,650 931,600
GADSDEN 484,350 620,200 749,650 931,600
GILCHRIST 484,350 620,200 749,650 931,600
GLADES 484,350 620,200 749,650 931,600
GULF 484,350 620,200 749,650 931,600
HAMILTON 484,350 620,200 749,650 931,600
HARDEE 484,350 620,200 749,650 931,600
HENDRY 484,350 620,200 749,650 931,600
HERNANDO 484,350 620,200 749,650 931,600
HIGHLANDS 484,350 620,200 749,650 931,600
HILLSBOROUGH 484,350 620,200 749,650 931,600
HOLMES 484,350 620,200 749,650 931,600
INDIAN RIVER 484,350 620,200 749,650 931,600
JACKSON 484,350 620,200 749,650 931,600
JEFFERSON 484,350 620,200 749,650 931,600
LAFAYETTE 484,350 620,200 749,650 931,600
LAKE 484,350 620,200 749,650 931,600
LEE 484,350 620,200 749,650 931,600
LEON 484,350 620,200 749,650 931,600
LEVY 484,350 620,200 749,650 931,600
LIBERTY 484,350 620,200 749,650 931,600
MADISON 484,350 620,200 749,650 931,600
MANATEE 484,350 620,200 749,650 931,600
MARION 484,350 620,200 749,650 931,600
MARTIN 484,350 620,200 749,650 931,600
MIAMI-DADE 484,350 620,200 749,650 931,600
MONROE 529,000 677,200 818,600 1,017,300
NASSAU 484,350 620,200 749,650 931,600
OKALOOSA 484,350 620,200 749,650 931,600
OKEECHOBEE 484,350 620,200 749,650 931,600
ORANGE 484,350 620,200 749,650 931,600
OSCEOLA 484,350 620,200 749,650 931,600
PALM BEACH 484,350 620,200 749,650 931,600
PASCO 484,350 620,200 749,650 931,600
PINELLAS 484,350 620,200 749,650 931,600
POLK 484,350 620,200 749,650 931,600
PUTNAM 484,350 620,200 749,650 931,600
ST. JOHNS 484,350 620,200 749,650 931,600
ST. LUCIE 484,350 620,200 749,650 931,600
SANTA ROSA 484,350 620,200 749,650 931,600
SARASOTA 484,350 620,200 749,650 931,600
SEMINOLE 484,350 620,200 749,650 931,600
SUMTER 484,350 620,200 749,650 931,600
SUWANNEE 484,350 620,200 749,650 931,600
TAYLOR 484,350 620,200 749,650 931,600
UNION 484,350 620,200 749,650 931,600
VOLUSIA 484,350 620,200 749,650 931,600
WAKULLA 484,350 620,200 749,650 931,600
WALTON 484,350 620,200 749,650 931,600
WASHINGTON 484,350 620,200 749,650 931,600