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Florida homebuyers rely on conventional conforming loans to finance their real estate purchases. These are mortgages that fit criteria set by Fannie Mae and Freddie Mac—including maximum loan amounts. For 2025, the baseline conforming loan limit for a single‑family home in most Florida counties is $806,500.
However, select areas like Monroe County are designated as “high‑cost areas”, increasing limits to $967,150 for one‑unit homes. Multi‑unit properties have higher thresholds:
- 2‑unit: $1,032,650
- 3‑unit: $1,248,150
- 4‑unit: $1,551,250
Conventional Loan Requirements in Florida
1. Credit Score & Down Payment
- Minimum credit score typically 620+; some lenders may require higher
- Standard down payment ranges:
- 3% for first-time or low‑balance programs
- 5–20% for standard conforming loans, depending on LTV (Loan‑to‑Value)
- 3% for first-time or low‑balance programs
2. Debt‑to‑Income (DTI) Ratio
- Most lenders cap DTI at 43–50%—some may consider exceptions up to 50%
3. Income & Employment Verification
- Requires at least 2 years of consistent income/employment (pay stubs, tax returns, W‑2s).
4. Property Type
Eligible conventional properties include:
- Single‑family homes, condos, PUDs
- 2‑ to 4‑unit residential buildings
- Manufactured homes (select lenders)
5. Private Mortgage Insurance (PMI)
- Required if LTV exceeds 80%; typically 0.5–1% of loan amount, sometimes financed within the loan.
6. Appraisal & Property Requirements
- Must pass appraisal by licensed professional
- Occupancy specified: primary residence, second home, or investment property
- condo projects must be Fannie Mae/Freddie Mac approved
2025 Loan Limits: Baseline vs. High‑Cost Counties
| Property Type | Baseline Limit | Monroe County Limit |
| 1‑unit | $806,500 | $967,150 |
| 2‑unit | $1,032,650 | $1,238,150 |
| 3‑unit | $1,248,150 | $1,496,600 |
| 4‑unit | $1,551,250 | $1,859,950 |
Nearly all Florida counties follow the $806,500 baseline. Only Monroe County exceeds it in 2025.
What If Your Loan Exceeds the Limit?
Loans exceeding conforming limits become jumbo loans, with stricter requirements and typically higher rates. Jumbo lenders may require:
- Higher credit scores (740+)
- Lower DTI (max ~43%)
- Larger down payments (20–30%)
- Extra property documentation/appraisals
Some lenders also offer “super‑conforming” loans in high-cost areas up to ~$915,000
Steps to Prepare for a Conventional Loan
- Check county limits. Use FHFA or Bankrate to verify limits in your area
- Get pre‑qualified. Compare rates and terms using multiple lenders.
- Order credit and employment documents.
- Evaluate PMI costs vs. down payment.
- Schedule appraisal early.
- Stay within conforming limits to avoid jumbo terms.
FAQ
What is the 2025 conforming loan limit in Florida?
It’s $806,500 for most counties; Monroe County is $967,150.
Are there income restrictions?
No income cap, but you must meet DTI requirements (typically ≤ 50%).
Can I get PMI removed?
Yes, once your LTV drops below 80%. Some loans auto‑remove PMI at 78% LTV.
Is an FHA loan an alternative?
Yes. FHA limits are lower (e.g., $524,225 in 2025 single‑family) but easier to qualify for.
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Get Expert Financing
- Matched with investor-friendly lenders
- Fast pre-approvals-no W2s required
- Financing options fro rentals, BRRRR, STRs
- Scale your portfolio with confidence
Our advice is based on experience in the mortgage industry and we are dedicated to helping you achieve your goal of owning a home. We may receive compensation from partner banks when you view mortgage rates listed on our website.
