By Phil Ganz
Edited by Ryan Skerritt
The 2025 conforming loan limits in Florida have been updated, impacting how much borrowers can finance through conventional loans.
Conforming loan limits are important for homebuyers because they determine the maximum amount they can borrow through conventional loans without requiring a higher-cost jumbo mortgage.
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These limits often vary by county, reflecting regional home prices and housing market trends, lets take a look:
2025 Florida Conforming Loan Limits
In 2025, the conforming loan limits for Florida have increased to accommodate rising home prices.
Monroe County has higher loan limits due to its significantly higher cost of living (CoL), which allows homebuyers to borrow more in this region.
Meanwhile, all other counties in Florida share the same conforming loan limits.
Below are the updated 2025 loan limits for both Miami-Dade (and other counties) and Monroe County.
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All Florida Counties Except Monroe:
- 1-Unit Home: $813,635
- 2-Unit Home: $1,041,620
- 3-Unit Home: $1,259,206
- 4-Unit Home: $1,564,832
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Monroe County:
- 1-Unit Home: $986,135
- 2-Unit Home: $1,263,570
- 3-Unit Home: $1,525,024
- 4-Unit Home: $1,896,540
Understanding Mortgage Loan Limits in Florida for 2024
Mortgage loan limits are crucial for understanding the Florida real estate market in 2025. These limits, set by the Federal Housing Finance Agency (FHFA) for conforming loans and the Federal Housing Administration (FHA) for FHA loans, dictate the maximum loan amount a buyer can secure. These limits can vary in Florida by property type and county, including those designated high-cost areas.
For 2025, the conforming mortgage loan limit for a single-unit home in Florida is $813,635, while the FHA mortgage loan limit is $528,850. These figures are adjusted annually, reflecting changes in Florida's local and national housing market values.
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Loans exceeding these limits are known as jumbo mortgages. Notably, VA loans no longer have mortgage loan limits for veterans with full entitlement, giving eligible borrowers more flexibility in 2025. USDA loans, however, continue without set mortgage limits for Florida homebuyers.
Is Your Property Above the Limit? Here’s When to Use a Jumbo Mortgage
In Florida's 2025 mortgage market, Florida jumbo mortgages play an important role for homebuyers looking to purchase higher-priced properties. These loans are necessary when the home price exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA).
For 2025, the conforming loan limit for a single-unit home in Florida is $813,635, and the FHA loan limit is $528,850. If the property price exceeds these limits, a jumbo mortgage is required.
Jumbo mortgages are often used in areas with higher property values or luxury markets. These loans typically come with higher interest rates, larger down payment requirements, and stricter credit qualifications due to the increased risk of lending larger amounts.
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If you're considering buying a property in high-cost areas like Monroe County, a jumbo mortgage may be necessary. It’s important to be financially prepared with a strong credit score, a low debt-to-income ratio, and the ability to provide a substantial down payment when applying for a jumbo loan in Florida.
Florida's 2025 Mortgage Landscape - An Overview
As we approach the end of 2024, mortgage rates in Florida average around 6.06% for a 30-year fixed mortgage and 5.31% for a 15-year fixed mortgage.
These rates have slightly decreased from earlier in the year, when they were consistently above 6.5%. Experts predict that rates will likely stay elevated through most of 2024, with a potential slight dip towards the end of the year.
Home prices in Florida have seen a modest increase, with the median price for single-family homes at $427,000, up 1.7% year-over-year, while condo prices remain stable at around $324,900.
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Inventory has risen by over 10%, giving buyers more options and helping slow price growth. Despite higher borrowing costs, demand remains strong, especially in certain regions like Tampa Bay, where housing markets remain tight.
Refinancing Options in Light of New Loan Limits
With the 2025 adjustment in Florida's mortgage loan limits, current homeowners might find new refinancing opportunities. These changes can influence refinancing in several ways:
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Increased Borrowing Capacity - Higher loan limits enable homeowners to refinance larger amounts. This can be particularly beneficial for those in high-value property areas, allowing them to leverage their home's increased equity.
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Jumbo Loan Refinancing - Homeowners with existing jumbo loans might find themselves eligible for refinancing under the new, higher conforming loan limits. This shift could potentially lower interest rates and offer more favorable terms.
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Home Improvement and Debt Consolidation - The increased loan limits allow homeowners to refinance for purposes beyond just lowering interest rates, such as funding major home renovations or consolidating higher-interest debt.
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Market Dynamics - The real estate market in Florida, characterized by rising home values, makes refinancing a strategic move for many homeowners. Refinancing can unlock better rates and terms with new loan limits, aligning with the current market conditions.
- Lender Competition - As loan limits increase, competition among lenders may intensify, leading to potentially better refinancing options for homeowners. This competition can result in lower closing costs and more customized lending solutions.
In summary, the revised loan limits in 2025 open up various refinancing possibilities for Florida homeowners, allowing them to capitalize on the equity in their homes and adapt to the evolving market conditions.
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It's a favorable time for homeowners to reassess their mortgage needs and consider refinancing options that align with their financial goals.
FAQ for 2025 Florida Conforming Loan Limits
Answering your most common questions about the new 2025 Florida conforming loan limits:
What are the new 2025 conforming loan limits in Florida?
For 2025, the conforming loan limit for a single-unit home in Florida is $813,635. In Monroe County, where the cost of living is higher, the limit for a single-unit home is $986,135.
How are the 2025 conforming loan limits determined?
The Federal Housing Finance Agency (FHFA) sets conforming loan limits annually based on the average home prices in each area. Higher-cost areas, like Monroe County, have higher loan limits due to more expensive housing markets.
What is the difference between conforming loans and jumbo loans?
A conforming loan falls within the loan limits set by the FHFA, while a jumbo loan exceeds these limits. Jumbo loans typically come with stricter requirements, such as higher credit scores and larger down payments.
Do VA loans have loan limits in 2025?
No, in 2025, VA loans no longer have loan limits for veterans with full entitlement, offering them more flexibility when financing a home in Florida.
Can I refinance my home with the new 2025 loan limits?
Yes, the updated loan limits may provide opportunities to refinance, especially if your home has increased in value or if you have a jumbo loan that now qualifies for conforming loan terms.
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The Bottom Line
The updated 2025 conforming loan limits in Florida offer more flexibility for homebuyers and homeowners across the state. With higher loan limits, particularly in areas like Monroe County, buyers can access more financing options without needing a jumbo mortgage. U
nderstanding these limits is essential to making informed decisions when buying or refinancing a home in Florida's evolving real estate market. Be sure to stay aware of these changes to secure the best mortgage for your needs.
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With over 50 years of mortgage industry experience, we are here to help you achieve the American dream of owning a home. We strive to provide the best education before, during, and after you buy a home. Our advice is based on experience with Phil Ganz and Team closing over One billion dollars and helping countless families.
About Author - Phil Ganz
Phil Ganz has over 20+ years of experience in the residential financing space. With over a billion dollars of funded loans, Phil helps homebuyers configure the perfect mortgage plan. Whether it's your first home, a complex multiple-property purchase, or anything in between, Phil has the experience to help you achieve your goals.
About Editor - Ryan Skerritt
Ryan Skerritt has over 10+ years of experience in the residential financing space. With over two hundred and fifty million of funded loan volume, Ryan has the skill set to help any homebuyer configure the perfect mortgage plan.
