5% Down Florida Jumbo Mortgage Financing Loans & The Best Jumbo Mortgage Loan Rates

We know the 5 Percent Down Payment Florida Jumbo Mortgage Financing Loan Business and Can Finance Easy, Complex and Tough Deals, with The Lowest Down Payments and Best Rates Possible!

What is a Florida Jumbo Mortgage Loan?

A loan that is above conventional conforming loan limits is called a jumbo loan. This limit is set by Fannie Mae and Freddie Mac, who purchase loans from lenders. If a loan amount is higher than $453,100 then neither of the two government-sponsored entities will purchase that loan. Typically, both Fannie and Freddie buy the bulk of U.S. residential mortgages from banks and other lenders, freeing up liquidity to lend more mortgages.

To sum it up, a jumbo loan is one with an amount more than $453,100. First Florida Financial Group offers jumbo loans with a lower amount for a down payment.

What are the Jumbo loan requirements for getting a 5% down jumbo Florida Mortgage?

  • 680 minimum credit score.
  • 4 months reserves (can be retirement account funds, gift funds not allowed).
  • Florida properties only, condos, single-family homes and townhomes.
  • 5 year waiting period for prior foreclosures, short sales, and bankruptcies.
  • 45% maximum DTI.
  • The property must be a Primary residence for 95% financing.
  • Minimum down payment of 5%.
  • 95% LTV/CLTV on loan amounts up to $850,000 on a 1 unit, owner-occupied purchase or rate and term refinance.
  • Single loan and 80-15 or 80-10 combo “piggyback” loan options available.

What if you don't qualify for a jumbo mortgage?

If you don't meet the strict jumbo mortgage underwriting requirements then we can solve this by doing a Fannie Mae Jumbo high balance mortgage loan up to a $679,650 loan amount and if necessary we can do a Second Mortgage loan.

What is a Fannie Mae Jumbo Conventional High Balance Mortgage Loan?

Fannie Mae Jumbo high balance mortgage loan allows home buyers and borrowers wanting to refinance their current mortgage and get a 30 year fixed rate conventional loan which is insured by Fannie Mae which allows you to avoid the strict underwriting requirements of a Jumbo mortgage.

Can you get a Florida jumbo mortgage with a 5% down payment?

Yes, you can for primary residence purchases!

Do you have to pay mortgage insurance on a 5% down Florida jumbo mortgage?

Yes, mortgage insurance is required for our 5% down Florida jumbo mortgage Loans!

Can you get a Jumbo mortgage with 1-year tax returns as income?

Yes, you can for primary residences with 20% down payment and a 700 credit score!

Have you been turned down for a Florida Jumbo Mortgage Loan Because

  • Don't have enough credit report tradelines.
  • First time home buyer.
  • Credit scores a little too low.
  • Prior Foreclosure or Bankruptcy or loan modifications.
  • Prior mortgage late payments.
  • Don't have enough reserves.

Not to worry we close these types of loans all the time, we know the Jumbo Mortgage Business and can Close Easy, Complex and Tough Deals. We do this by utilizing our years of experience and "Outside The Box Thinking" to get buyers pre-approved for the maximum loan amount possible while keeping their down payment and closing costs as low as possible. 



We offer loans for the entire state of Florida and all of the following cities;
Monroe County Florida Cities; Big Pine Key, Islamorada, Key Colony Beach, Key Largo, Key West, Long Key, Marathon, Marathon Shores, Sugarloaf Shores, Summerland Key, and Tavernier
Collier County Florida Cities; Marco Island, Naples Golden Gate, Lee County Florida Cities: Alva, Boca Grande, Bonita Springs, Buckingham, Captiva, Cape Coral, Fort Myers, Fort Myers Beach, Lehigh Acres, Sanibel. Jacksonville, Tampa, Saint Petersburg, Hialeah, Orlando, Fort Lauderdale, Tallahassee, Hollywood, Pembroke Pines, Miami, Palm Beach, West Palm Beach, Boca Raton, Miramar, Sarasota, Gainesville, Bradenton

Got A Question?

Thanks and we look forward to working with you on your mortgage needs!

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