If you are buying a higher-priced home in Boca Raton or anywhere in Palm Beach County, the line between a conventional loan and a jumbo loan comes down to one number: $832,750.
That is the 2026 FHFA conforming loan limit for a one-unit property in Palm Beach County. Borrow at or below that amount and you are in conventional territory — eligible for Fannie Mae or Freddie Mac backing, automated underwriting, and the most widely available pricing. Go above it and you enter jumbo territory, where the loan is held in a lender’s portfolio or sold to private investors, and the rules tighten.
2026 Conforming Loan Limit for Palm Beach County
For 2026, the Federal Housing Finance Agency (FHFA) set the national baseline conforming loan limit at $832,750 for one-unit properties — up $26,250 from 2025. Palm Beach County sits at this baseline. It is not designated a high-cost area for conforming loans, so the limit does not go higher here.
By comparison, Monroe County (the Florida Keys) is the only Florida county with a high-cost conforming limit in 2026: $990,150 for one unit. The absolute ceiling for any high-cost area nationwide is $1,249,125 (150% of the baseline).
| Property Type | 2026 Conforming Limit (Palm Beach County) |
|---|---|
| 1-unit | $832,750 |
| 2-unit | $1,066,250 |
| 3-unit | $1,288,800 |
| 4-unit | $1,601,750 |
Source: FHFA 2026 Conforming Loan Limits; Fannie Mae Lender Letter LL-2025-04.
What Changes When You Cross the Line
Loan backing
Conventional loans at or below the limit can be sold to Fannie Mae or Freddie Mac. Jumbo loans cannot — they stay on the lender’s books or go to private investors. That means no universal rulebook; each lender sets its own overlays.
Credit score
- Conventional: 620 minimum per Fannie/Freddie (many lenders overlay higher).
- Jumbo: 680 minimum at most lenders; 720+ for best rates and 10% down options; 760+ for the sharpest pricing.
Down payment
- Conventional: 3% down for first-time buyers (HomeReady/Home Possible); 5% standard; 20% to avoid PMI.
- Jumbo: 10–20% typical. Some lenders offer 5% down up to ~$1.3M with strong credit and reserves, but pricing is higher. Most competitive jumbo pricing starts at 20% down.
Debt-to-income (DTI) ratio
- Conventional: Up to 50% back-end DTI with automated approval.
- Jumbo: 43% hard cap at most lenders; some allow 45% with compensating factors (high reserves, large down payment, 760+ credit).
Cash reserves
- Conventional: Often 0–2 months PITI for primary residences; sometimes waived entirely by AUS.
- Jumbo: 6–12 months PITI in liquid assets after closing is standard; loans above $2M may require 18 months. Retirement accounts typically count at 60–70% of balance; investments at 70–80%.
Rates
For well-qualified borrowers (740+ credit, 20%+ down, 12+ months reserves), jumbo 30-year fixed rates in 2026 are often within 0.125–0.25% of conforming rates — and occasionally slightly lower. The gap widens at lower credit scores or higher LTVs.
Appraisal
- Conventional: One appraisal standard.
- Jumbo: Two appraisals often required above $1.5M loan amount.
FHA vs Conforming vs Jumbo in Palm Beach County
It is worth noting the FHA limit is different. For 2026, HUD classifies the Miami–Fort Lauderdale–West Palm Beach metro as a high-cost area for FHA. The one-unit FHA limit in Palm Beach County is $667,000.
That creates a gap: a borrower buying a one-unit primary residence priced between $667,001 and $832,750 cannot use FHA but can still use a conforming conventional loan. FHA allows 3.5% down with a 580+ score but carries upfront MIP (1.75%) plus monthly MIP for the life of the loan on most files. Conventional PMI auto-cancels at 78% LTV.
Common Boca Raton Scenarios
Purchase at $950,000 with 20% down ($190,000)
Loan amount: $760,000. Conforming. You are under the $832,750 limit. Standard conventional guidelines apply.
Purchase at $1,100,000 with 20% down ($220,000)
Loan amount: $880,000. Jumbo. You are above the Palm Beach County limit. Jumbo underwriting applies — tighter DTI, reserve requirements, and lender-specific overlays.
Purchase at $1,400,000 with 25% down ($350,000)
Loan amount: $1,050,000. Jumbo. At this loan amount, expect two appraisals, 12+ months reserves, and 720+ credit for the best pricing.
Strategies If You Are Near the Line
- Increase down payment to bring the loan amount at or below $832,750 and stay in conforming territory.
- Piggyback (80/10/10): First mortgage at 80% LTV (conforming), 10% HELOC or second mortgage, 10% down. Avoids jumbo underwriting and PMI. Not every lender offers this.
- Rate/term refinance later: If you take a jumbo now, you may be able to refinance into a conforming loan once the balance pays down below the limit or the limit increases in a future year.
FAQ
Is the conforming limit based on home price or loan amount?
Loan amount. A $1M home with a $200K down payment = $800K loan. That is conforming in Palm Beach County for 2026.
Does the limit change during the year?
No. The 2026 limits apply to loans delivered to Fannie Mae or Freddie Mac in calendar year 2026, regardless of when the loan was originated.
Can I get a jumbo loan with 10% down?
Yes, some portfolio lenders offer 90% LTV jumbo up to ~$2M–$3M with 720+ credit and 12+ months reserves. Expect a rate premium of roughly 0.25–0.50% versus 20% down.
Are jumbo rates always higher?
Not necessarily. For top-tier borrowers, jumbo 30-year fixed rates can match or occasionally beat conforming rates because lenders compete aggressively for high-balance, low-risk portfolios.
What counts as reserves?
Checking, savings, money market, stocks/bonds (discounted ~30%), retirement accounts (discounted ~40%). Gift funds and borrowed money do not count.
Does MJS Financial offer both conforming and jumbo loans?
Yes. As a broker, we access both conforming channels (Fannie/Freddie) and multiple jumbo investors. We match the loan structure to your scenario.
Next Step
If your loan amount is near the $832,750 line, the right structure can save you months of documentation hassle and thousands in rate or fees. Get pre-approved with MJS Financial and we will map out the cleanest path — conforming, jumbo, or a piggyback strategy.
Want to see current rates? Check our Boca Raton mortgage rates page. Prefer to run the numbers yourself? Use our mortgage calculator.