Miami Home Loans
Miami’s housing market doesn’t operate like the rest of Florida. International capital, a luxury condo pipeline that never stops, and a buyer pool that stretches from Bogota to Buenos Aires to Sao Paulo make this a market with its own rules. Median home prices sit well above the statewide average, and in neighborhoods like Brickell, Coral Gables, and Coconut Grove, you’re regularly looking at $700K+ for a single-family home.
That said, Miami isn’t all waterfront penthouses. Doral has become one of the most active family home markets in South Florida — strong schools, new construction, and a large Venezuelan and Colombian community that’s reshaped the area over the past decade. Kendall and Homestead still have entry points under $400K for buyers who don’t mind the commute. Wynwood and Little Havana attract buyers looking for value close to the urban core before the next wave of development pushes prices higher.
The condo market is its own universe. Edgewater high-rises, Aventura towers, Sunny Isles beachfront buildings, and the constant flow of new construction in Brickell — condos range from $250K studios to eight-figure units on Fisher Island. Financing condos in Miami is more complicated than most buyers expect, because many of these buildings don’t meet conventional lending guidelines.
What makes Miami different from a lending perspective: foreign national buyers, high-rise condo financing quirks, jumbo loan demand, and one of the biggest short-term rental investment markets in the country.
Talk to a Loan Specialist — (833) 350-9185Loan Programs Available in Miami
- FHA Loans — Low down payment starting at 3.5%, popular for first-time buyers in Hialeah, Kendall, and Homestead
- VA Loans — Zero down for veterans and active duty at Homestead ARB and SOUTHCOM
- Conventional Loans — Competitive rates on primary residences and second homes
- Jumbo Loans — Financing above conforming limits, critical for Coral Gables, Key Biscayne, and Brickell
- Bank Statement Loans — Self-employed borrower programs for Miami’s massive independent workforce
- DSCR Investment Loans — Qualify on rental income for Airbnb units, condo rentals, and multifamily investments
Miami Housing Market
Miami-Dade is driven by dynamics that don’t exist in most US markets. Foreign buyer activity remains heavy — Latin American and European capital flows into Miami real estate as both investment and wealth preservation. That demand, plus limited buildable land east of the turnpike, keeps prices elevated even when the national market cools.
The tech and finance migration post-2020 added another layer. Companies and high-net-worth individuals relocating from New York, San Francisco, and Chicago brought purchasing power that pushed Brickell, Coconut Grove, and Coral Gables even higher. Miami is no longer just a vacation and retirement market — it’s attracting working professionals in their 30s and 40s buying primary residences.
Condo financing in Miami. Many newer high-rise buildings in Brickell, Edgewater, and Sunny Isles don’t meet Fannie Mae warrantability requirements — too many investor-owned units, pending litigation, or inadequate reserves post-Surfside. That’s where non-QM products like bank statement loans and DSCR loans fill the gap. If you’re buying a condo in Miami, confirm financing eligibility before you fall in love with a unit.
The investment market. Miami’s short-term rental market is enormous. Airbnb properties in Miami Beach, Wynwood, and the Design District command some of the highest nightly rates in the state. Art Basel week alone can generate a month’s worth of rent in a few days. DSCR loans are the standard financing tool for investors buying these properties through LLCs.
Insurance reality. Wind and flood premiums in Miami-Dade have climbed significantly since 2022, and they directly affect your monthly payment and qualifying ratios. Properties east of I-95 and in flood zones carry the highest premiums. Your loan officer will factor those numbers in early so there are no surprises at closing.
Neighborhood Snapshot
| Area | Price Range | Best Fit |
|---|---|---|
| Brickell / Downtown | $400K–$2M+ (condos) | Jumbo, non-QM condo financing |
| Coral Gables | $700K–$3M+ | Jumbo, conventional |
| Doral | $400K–$700K | Conventional, FHA (townhomes) |
| Kendall / Homestead | $300K–$500K | FHA, conventional |
| Hialeah | $350K–$500K | FHA, bank statement |
| Miami Beach | $500K–$5M+ | Jumbo, DSCR (Airbnb investment) |
| Wynwood / Edgewater | $350K–$1M (condos) | Conventional, bank statement |
| Aventura / Sunny Isles | $400K–$3M+ (condos) | Jumbo, non-QM |
Miami-Dade conforming loan limits are higher than most of the state due to elevated median prices. That said, most purchases in Coral Gables, Key Biscayne, Miami Beach, and Brickell still require jumbo financing. We work with multiple jumbo and non-QM lenders to find the best rate and terms for your specific property and scenario.
Why Buyers in Miami Choose 1st Nationwide
- Jumbo and non-QM experience — Miami’s price points and condo inventory demand lenders who actually know non-QM and jumbo underwriting. We do this daily.
- Self-employed friendly — Miami’s economy runs on entrepreneurs, freelancers, and business owners. Import/export, real estate, restaurants, medical practices — our bank statement programs are built for exactly that income profile.
- Investor-focused DSCR lending — Whether you’re buying your first Airbnb in Miami Beach or your tenth rental in Doral, we close DSCR loans without touching your tax returns.
- Real answers on complex deals — Non-warrantable condos, foreign national scenarios, mixed-use properties. Call us and talk to someone who’s seen it before.
Get Started
Ready to buy or refinance in Miami? Call us at (833) 350-9185 or apply online.