Jumbo Loans in Boca Raton, FL: Prices, Clubs and Insurance

Short answer

For most Boca Raton houses, yes: the median single-family home in the city sold for $1,410,000 in Q3 2026, and any one-unit loan above the 2026 conforming limit of $832,750 is jumbo. With 20% down that median house is a $1,128,000 loan; staying conforming would take about 41% down (as of October 2026).

Boca Raton house prices vs. the conforming line

The general jumbo rules (what lenders look for in score, reserves and down payment, and how non-QM jumbos work) are in our Florida jumbo loan guide. This page is about what Boca does to those rules.

FHFA set the 2026 conforming limit for a one-unit home at $832,750 in Palm Beach County, the same baseline as most of the country. Above that amount Fannie Mae and Freddie Mac cannot buy the loan, so each jumbo lender writes its own guidelines.

Florida Realtors data published by MIAMI REALTORS for Q3 2026 shows how far above that line Boca houses sit (as of October 2026):

• Median house, City of Boca Raton: $1,410,000, up 24.8% from Q3 2025, on 244 closed sales.
• Average house: $2,568,318, pulled up by waterfront and club estates.
• Paid in cash: 147 of the 244 sales, about 60%.
• Median time to contract: 26 days, with 3.4 months of inventory, a seller-leaning market.
• Palm Beach County median house: $655,000, so Boca runs more than twice the county.

What that means for financing: at the median price, a 20% down payment leaves a $1,128,000 loan and a 10% down payment leaves $1,269,000. Keeping the loan at $832,750 would take $577,250 down. When 60% of your competition pays cash, a jumbo pre-approval that has already been through underwriting, not just a credit pull, is what keeps your offer in the running.

Country club communities: what the lender sees

A large share of Boca's higher-priced houses sit in gated golf and country club communities. Some require every owner to join the club, often through an equity or capital contribution at purchase plus annual dues. Two things matter for the loan:

• Cash to close. A required initiation fee or capital contribution is paid at or around closing, on top of the down payment and closing costs. Your jumbo lender will want to see that money in your verified assets, and many jumbo programs also require reserves after closing, so plan for both.
• Monthly payment. Fannie Mae's housing-expense rule for conforming loans lists owners' association dues and special assessments; it does not name club membership dues. Jumbo lenders set their own policy, so ask early whether yours counts a mandatory club fee in your debt-to-income ratio. We ask that before we choose the lender, not after the appraisal.

Get the community's documents early: the HOA and club fee schedule, whether membership is mandatory, any transfer or capital fees, and any pending assessment. An optional social membership is a lifestyle choice; a mandatory one is part of the cost of the house.

For buyers whose income does not fit a standard jumbo file (business owners, retirees living on assets, foreign buyers), non-QM options like bank statement loans and asset-based programs can fund the same houses, with terms that vary by lender.

Flood and windstorm insurance on a Boca jumbo

Insurance is the cost that most often surprises jumbo buyers in Boca, because it scales with the size of the house, not the loan.

• Flood zones. The city says a large portion of Boca Raton lies in FEMA's special flood hazard area, and new FEMA flood maps were adopted on December 20, 2024. A house that was outside the zone when the seller bought may be inside it now. Look up the address on the FEMA map before you go under contract; see what a flood zone means.
• NFIP coverage has a ceiling. The National Flood Insurance Program covers up to $250,000 for a one-to-four family structure and $100,000 for contents. On a house that costs well over $1 million to rebuild, lenders and owners often look at private or excess flood coverage on top.
• City discount. Boca Raton says an improvement in its Community Rating System class qualifies residents for a 25% discount on NFIP flood premiums. New NFIP policies typically have a 30-day waiting period, so order flood coverage early.
• Citizens is usually not an option. Under current Florida law, a home with a dwelling replacement cost of $700,000 or more is generally not eligible for Citizens Property Insurance, so most Boca jumbo houses need a private carrier for wind and hazard coverage.

Ask the seller for the current insurance declarations page, a wind mitigation report and roof age. A strong wind mitigation report can lower the premium, and a quote in hand before your inspection period ends protects your deposit.

Example only: the full monthly cost of a median Boca house

Example only, for the $1,410,000 Q3 2026 median house with 20% down, as of October 2026:

• Down payment: $282,000, for a $1,128,000 jumbo loan.
• Florida taxes on the new mortgage: documentary stamp tax of $0.35 per $100 is about $3,948, and the 2-mill nonrecurring intangible tax is about $2,256, both paid at closing.
• Property taxes: at Boca Raton's 16.9090 total mills, estimated at the purchase price with the homestead exemption, about $23,150 a year, or roughly $1,930 a month. The seller's bill is often much lower because of the Save Our Homes cap; your bill resets to market value after you buy. File for homestead by March 1 of the year after you move in.
• Reserves: many jumbo lenders want several months of the full payment left in the bank after closing; the exact number depends on the lender, the loan size and your score.
• Insurance, HOA and club dues: quote them before you sign. On a club home they can rival the tax bill.

Principal and interest depend on the day's pricing; rates vary daily, so call for today's numbers. If the payment runs high, compare a larger-down jumbo with a conforming first plus a HELOC or second mortgage, and look at the full cost, not just the rate.

How QMS shops a Boca Raton jumbo

Jumbo guidelines are not standardized, so the same file can get very different answers from different lenders. QMS Lending is an independent mortgage broker in Miami, FL, working with 100+ lenders, which lets us match the house and the borrower to the lender that fits:

• A fully underwritten pre-approval that can stand next to cash offers.
• Early answers on club fees, reserves and how assets or self-employed income are counted.
• An insurance and flood check before your inspection period ends.
• A side-by-side of jumbo, conforming-plus-second and non-QM options, with all costs shown.

Already own in Boca and thinking about a lower payment or cash out? See refinancing in Boca Raton. Call 305-425-1990, in English or Spanish. Michael Fernandez, NMLS #1491775; company NMLS #1781090; 4.9 stars across 200+ Google reviews. Subject to credit approval. Equal Housing Opportunity.