Florida Conforming Loan Limits by County
2021 Fannie Mae, Freddie Mac conforming and jumbo mortgage loan limits. Popular areas include Jacksonville, Miami, Tampa and Orlando Florida.
The average homebuyer in Florida is looking for a typical home and mortgage—and knowing conforming loan limits can help guide a buyer to finding generous mortgage terms. The conforming loan is a mortgage that fits the guidelines used by Fannie Mae and Freddie Mac, the federal mortgage companies established by the U.S. Congress to stabilize the housing industry. Through the Federal Housing Finance Agency (FHFA), conforming loan limits maximum dollar amounts established to reflect average home prices—are set annually. As the economy fluctuates, so does the mortgage market, so the FHFA House Price Index offers the broad measurement necessary to show the ebb and flow of a changing market. The FHFA House Price Index provides an exhaustive compilation of housing sales (both new sales and refinances) from all U.S. housing markets to accurately reflect trends.
The combination of the FHFA HPI and Fannie Mae and Freddie Mac standards shape the mortgage industry, offering guidance for standard practices in home lending. By meeting these standards, which vary from state to state, conforming loans often offer a lower interest rate and down payment as well as being easier to qualify for with more generous credit score requirements. For lenders, conforming loans are attractive on the resale market, so they are eager to provide a product that has value with the initial loan and is also a safe investment to be sold in the secondary mortgage market. This means that borrowers have a wider market of potential lenders to choose from, increasing the chance of obtaining the best mortgage terms in Florida.