Mortgage Broker in Miami Beach, FL

Short answer

QMS Lending is an independent mortgage broker 30 minutes from Miami Beach with 100+ lenders, including condotel, non-warrantable condo, DSCR and foreign national lenders that most banks lack. In Q2 2026 the median Miami Beach condo sold for $521,688 and the median house for $5,275,000, so the Beach is a condo-review and jumbo market where the building, not just the borrower, decides the loan.

Buying a home in Miami Beach: what the numbers look like

Miami Beach is 85% condos by volume and almost entirely jumbo by house price. In Q2 2026 the City of Miami Beach recorded 467 townhouse and condo sales at a median of $521,688 and only 83 single-family sales at a median of $5,275,000, per Florida Realtors data published by MIAMI REALTORS (as of October 2026). The house median reflects the island neighborhoods: Sunset Islands, Venetian Islands, Star, Palm and Hibiscus Islands, La Gorce and the Bayshore waterfront.

The condo median hides a wide spread. South of Fifth (33139) and the Mid-Beach oceanfront (33140) trade well above $1,000,000; the 1950s-to-1970s buildings in North Beach (33141), Normandy Isles and along West Avenue and Collins between 60th and 87th Street are where $300,000 to $600,000 units sit.

At the $521,688 condo median, a 10% down loan is $469,500, inside FHA and conventional limits if the building passes. Nearly every house loan on the Beach is jumbo.

Loan limits in Miami-Dade County for 2026

The 2026 FHA limit for a 1-unit home in Miami-Dade County is $667,000 and the 2026 conforming (Fannie Mae / Freddie Mac) limit is $832,750 (as of October 2026). Above $832,750 you are in jumbo territory. Both limits apply to the loan amount, not the price.

FHA limits for 2-4 unit properties are $853,900, $1,032,150 and $1,282,700.

On Miami Beach the limits matter for condos, not houses. A $521,688 unit fits conforming with 5% down. A $1,200,000 South of Fifth unit with 20% down is a $960,000 jumbo.

Property taxes, insurance and flood zones in Miami Beach

The 2025 adopted total millage for the City of Miami Beach is 18.7601 mills, about 1.88% of taxable value, including a city operating rate of 5.8560 and 0.2779 for debt (as of October 2026, Miami-Dade Property Appraiser; the city proposed 5.8060 and 0.2693 for 2026). On a $521,688 condo that is roughly $9,800 a year before the homestead exemption; second-home and investor buyers get no homestead cap, so their bill tracks market value.

Insurance on the Beach is mostly the association's master policy. Lenders verify the building's wind and flood coverage; you carry an HO-6 policy for your unit. For waterfront houses, windstorm coverage is expensive and often placed with Citizens or a surplus-lines carrier.

Flood: nearly all of Miami Beach is in FEMA Zone AE, with Zone VE on the oceanfront, so flood insurance is mandatory on every federally backed loan. Condo buildings carry an NFIP or private master flood policy; houses need their own, and elevation certificates matter for pricing. Check the parcel at the FEMA Flood Map Service Center.

Condos in Miami Beach

Miami Beach is where Florida's condo rules bite hardest. The city has hundreds of pre-1980 buildings of three stories or more within a mile of salt water, which puts them under the 25-year milestone inspection track that the city's building department enforces. Many passed; many others are mid-repair, mid-assessment or short on structural reserves.

A warrantable condo passes Fannie Mae and Freddie Mac project review: no significant deferred maintenance, no open safety-related special assessments, at least 10% of the budget to reserves, plus insurance and investor-concentration tests. The association answers a condo questionnaire (Fannie Mae Form 1076). Fail an item and the building is non-warrantable: a non-warrantable condo loan with a larger down payment, not a denial.

Florida Statute 553.899 requires a milestone structural inspection for condo buildings of three habitable stories or more at 30 years from the certificate of occupancy (25 years where the local building department requires it near salt water), then every 10 years, plus a structural integrity reserve study (SIRS). Lenders ask for both.

Three Beach-specific issues: condotels, buildings with front desks, rental programs and short-term rentals, which conventional lenders will not finance but condotel lenders will; non-warrantable findings for open structural assessments or under-funded reserves, handled with a non-warrantable condo loan; and new construction towers in Mid-Beach and North Beach that need new construction condo financing until the project is 90% sold.

Down payment help available to Miami Beach buyers

Miami Beach runs its own program to keep workers on the island.

City of Miami Beach First Time Homebuyer Program: deferred, forgivable loans secured by a lien, forgiven after 15 years of owner occupancy, for income-qualified buyers purchasing a primary residence in Miami Beach. Published maximums are $40,000 (HOME funds, up to 80% AMI) and $50,000 to $150,000 (SHIP funds, from moderate to extremely low income); part of the award must go to improvements. As of October 2026 the city reports a waitlist; applications go through the Neighborly portal (305-673-7260).

Florida Hometown Heroes: first-time, income-qualified buyers who work full time for a Florida employer (health care, schools, first responders, public safety, child care, military, veterans) may get up to 5% of the first mortgage, $10,000 to $35,000, as a 0% deferred second mortgage repaid at sale or refinance. Funds come in rounds (2025 money ran out in early 2026; a $50 million round opened July 13, 2026), so ask us whether funds are open. Florida Housing also offers FL Assist (up to $10,000, 0% deferred) and HFA Preferred PLUS (3% to 5%, forgiven over 5 years).

Miami-Dade County Down Payment Assistance: up to $35,000 as a 0% deferred loan for first-time buyers living in the county; income caps run from $95,620 (1 person) to $136,500 (4 people) and you put in 1% of the price. MDEAT Homeownership Assistance Program (HAP): up to $28,500 at or below 80% of area median income, or $14,500 up to 140% of AMI, at 0%, forgiven after 20 years, no price cap.

A nurse or police officer buying a $450,000 North Beach condo is the profile these programs were built for.

Which loan programs fit Miami Beach buyers

• Jumbo loans: every island house and most South of Fifth and oceanfront condos; 10% to 20% down.
• Condotel loans: for units in buildings with hotel operations or short-term rental programs; typically 25% to 30% down.
• DSCR loans: for investors buying Beach rental condos, qualified on rent (long-term or documented short-term); business-purpose, investment only.
• Foreign national loans: a large share of Beach condo buyers; 25% to 30% down, no U.S. credit history needed.
• Non-warrantable condo loans: for the many older buildings mid-assessment or short on reserves.
• Conventional: 3% to 5% down for warrantable North Beach and West Avenue units under $832,750.
• Bank statement loans: for self-employed buyers, including hospitality and entertainment business owners.

Why work with a Doral-based broker for Miami Beach

QMS Lending is an independent mortgage broker founded in 2018 at 3105 NW 107th Ave, Suite 400-O6, Doral, FL 33172 (NMLS #1781090). Miami Beach is about 30 minutes from our office across the Julia Tuttle Causeway. The value we add on the Beach is building knowledge: which towers are condotels, which have open milestone repairs, and which lenders will still finance them.

A broker has no single rate sheet: we shop your file across 100+ wholesale lenders, which is how a hard file lands with the lender that wants it. The team is bilingual (English and Spanish), led by Michael Fernandez, NMLS #1491775, President; licensed in Florida (and Georgia and Colorado through December 31, 2026); 4.9 stars across 200+ Google reviews. Rates vary daily; call 305-425-1990 for today's pricing. Subject to credit approval. Equal Housing Opportunity.

Down payment help for Miami Beach buyers

• City of Miami Beach First Time Homebuyer Program Deferred forgivable loan (15 years); $40,000 HOME (up to 80% AMI) or $50,000 to $150,000 SHIP by income tier; primary residence in Miami Beach; waitlist as of Oct 2026. ↗
• Florida Hometown Heroes Up to 5% of the first mortgage, $10,000 to $35,000, 0% deferred second; first-time buyers employed full time by a Florida employer. Funded in rounds. ↗
• Miami-Dade County Homebuyer Down Payment Assistance Up to $35,000, 0% deferred up to 30 years; income caps $95,620 (1 person) to $136,500 (4 people); 1% buyer contribution. ↗
• MDEAT Homeownership Assistance Program (HAP) Up to $28,500 (80% AMI or below) or $14,500 (80% to 140% AMI); 0%, forgiven after 20 years; no purchase price cap. ↗

Nearby cities

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