Mortgage Broker in Biscayne Park, FL

Short answer

The median house in Biscayne Park sold for $1,227,500 in Q3 2026, so with 20% down most buyers need a $982,000 jumbo loan, and nearly every home is old enough to need a 4-point inspection for insurance. QMS Lending is an independent mortgage broker that compares conforming, jumbo and FHA options for Biscayne Park buyers across 100+ lenders.

What homes cost in Biscayne Park

Biscayne Park is a small, all-house village. It recorded 11 single-family sales in Q3 2026 at a median of $1,227,500, up 42.7% from a year earlier, and an average of $1,581,000, per MIAMI REALTORS (as of November 2026). With only 11 sales, one or two large homes can swing the median a lot, so use it as a range marker.

The market favors buyers right now. Sellers received 90.4% of original list price, the median home took 39 days to go under contract, and there were 25 active listings with 6.0 months of supply. Only 3 of 11 buyers paid cash.

For context, the Miami-Dade County single-family median was $685,000. Neighboring Miami Shores came in at $1,440,000 and El Portal at $1,225,000 in the same quarter.

There were no townhouse or condo sales and no condo listings in Q3 2026. Buying in Biscayne Park means buying a detached house.

A 1930s village with older homes

Biscayne Park was developed in the 1920s, incorporated as a town on December 31, 1931 and became a village in 1933. Its Village Hall is a log cabin built of Dade County pine with federal relief labor in 1933. The village grew about fourfold between 1940 and 1950, so much of the housing dates to the mid-20th century.

It is tiny: about 0.64 square miles, 3,117 residents (2020 census) and 1,312 housing units, all in ZIP code 33161. It sits about 9 miles north of downtown Miami, with North Miami to the north, Miami Shores to the south, the Biscayne Canal on the southwest edge and the FEC railway on the southeast.

Older houses are charming but they drive two things that matter to your loan: insurance cost and repair conditions. Plan for both before you make an offer.

4-point and wind mitigation inspections

Insurance is often the deciding factor on a Biscayne Park home. Two inspections shape your quote:

• 4-point inspection: an inspector reports on the roof, electrical, plumbing and HVAC. Citizens Property Insurance requires one for homeowners (HO-3 type) policies on homes over 20 years old, a rule in effect since February 2022 (lowered from 30). Nearly every house in the village qualifies. Old wiring, galvanized pipes or an aging roof can make a home hard to insure until fixed.
• Wind mitigation inspection: recorded on Florida form OIR-B1-1802, it documents roof shape, roof-to-wall connections and opening protection. Under F.S. 627.0629, insurers must offer discounts or credits for these features. The new form version took effect April 1, 2026, and a completed form stays valid up to five years if nothing material changes.

Order both during your inspection period and send them to an agent right away. Your lender needs a signed insurance binder before closing, and the premium goes into your monthly escrow.

Jumbo or conforming: financing a $1.2 million house

At the Q3 2026 median of $1,227,500 (as of November 2026), most financed purchases exceed the 2026 conforming limit of $832,750:

• 20% down: $245,500 down leaves a $982,000 loan, a jumbo loan.
• Stay conforming: putting $394,750 down (about 32%) keeps the loan at $832,750.
• Piggyback: some buyers pair a conforming first mortgage with a second lien to avoid jumbo terms; see piggyback loans.
• FHA: the Miami-Dade FHA one-unit limit is $667,000, so with 3.5% down FHA reaches homes up to about $691,000. That covers only the lower end of the village.

Jumbo lenders want stronger reserves and lower debt-to-income. Self-employed? A bank statement loan may fit. See jumbo loans in Miami. Rates vary daily; call 305-425-1990 for today's pricing.

Biscayne Park property taxes

Biscayne Park has one of the higher total millage rates in Miami-Dade. The 2025 adopted total is 24.3227 mills, about 2.43% of taxable value, per the Miami-Dade Property Appraiser (as of November 2026):

• Village of Biscayne Park: 9.3000
• Miami-Dade County: 4.5740 operating + 0.4171 debt
• School Board: 5.4990 + 1.0000 voted operating + 0.1340 debt
• Fire Rescue: 2.3965; Library: 0.2812; Children's Trust: 0.4638
• Water management districts and FIND: 0.2571 combined

On $900,000 of taxable value, that is about $21,890 a year. File the homestead exemption after closing; the Save Our Homes cap then limits annual assessment increases. A buyer is reassessed at market value, so the seller's bill is not your bill.

Closing costs and flood zones

In Miami-Dade, deed stamps on a single-family home are $0.60 per $100 (the $0.45 surtax applies only to non-single-family property), or $7,365 on a $1,227,500 sale. On a $982,000 loan, note stamps at $0.35 per $100 are $3,437 and the intangible tax at 0.2% is $1,964 (as of November 2026). See closing costs for Florida buyers.

Miami-Dade's effective FEMA maps date to September 11, 2009; preliminary maps were issued in 2021 and are not yet in effect. Homes near the Biscayne Canal deserve a close look. Check the address on the county's flood zone tool or the FEMA Map Service Center. If any part of the house is in a high-risk zone, your lender will require flood insurance; Miami-Dade notes Zone A has at least a one-in-four chance of flooding over a 30-year mortgage. Read what a flood zone means.

Down payment help and renovation options

The Miami-Dade County Homebuyer Down Payment Assistance program offers up to $35,000 as a 0% deferred loan for up to 30 years, with no monthly payment. Income must be under $136,500 for a household of four, the buyer puts in 1% of the price, and buyers cannot have owned a principal residence in the prior three years. If you sell within the first six years, the county shares in the profit. At Biscayne Park prices, these limits rule out many buyers, but a first-time buyer at the lower end of the market may qualify.

Florida Hometown Heroes adds up to 5% of the first mortgage ($10,000 to $35,000) for eligible workers such as teachers, nurses and first responders.

Buying a dated house to update? An FHA 203(k) finances repairs within the $667,000 limit. Already own here? A HELOC can fund a new roof or impact windows, which may also lower your windstorm premium.

Working with QMS Lending in Biscayne Park

QMS Lending is an independent mortgage broker in Miami, FL, founded in 2018 (NMLS #1781090), led by President Michael Fernandez (NMLS #1491775). We compare conforming, jumbo and FHA options from 100+ lenders and help you line up inspections and insurance early, so an older house does not stall at closing.

All loans are subject to credit approval. We are rated 4.9 stars across 200+ Google reviews and work in English and Spanish. Call 305-425-1990.

Down payment help for Biscayne Park buyers

• Miami-Dade County Homebuyer Down Payment Assistance Up to $35,000, 0% deferred up to 30 years; income under $136,500 for 4; 1% buyer contribution; no principal residence owned in prior 3 years; county shares profit if sold within 6 years. 786-469-4100. ↗
• Florida Hometown Heroes Up to 5% of the first mortgage ($10,000 minimum, $35,000 maximum), 0% deferred 30-year second mortgage, for eligible full-time workers and veterans. ↗

Nearby cities

Miami ShoresNorth MiamiNorth Miami BeachMiami