Mortgage Broker in Miami, FL

Short answer

QMS Lending is an independent mortgage broker 20 minutes from Brickell with 100+ lenders for City of Miami condos, houses and 2-4 unit properties. In Q2 2026 the median Miami condo sold for $595,000 and the median house for $799,000, both inside the $832,750 conforming limit, and the city, county and state all run down payment programs Miami buyers can use.

Buying a home in Miami: what the numbers look like

The City of Miami is the condo capital of Florida. In Q2 2026 the city recorded 714 townhouse and condo sales at a median of $595,000 against 335 single-family sales at a median of $799,000, per Florida Realtors data published by MIAMI REALTORS (as of October 2026). Countywide medians were $675,000 and $425,000, so city condos run about 40% above the county because of Brickell, Edgewater and Downtown.

Brickell (33131), Downtown (33132), Edgewater and the Upper East Side (33137, 33138) are condo tower markets. Coconut Grove (33133) and The Roads (33129) are high-priced house markets. Little Havana (33135), Flagami (33144, 33155), Allapattah (33142) and Shenandoah (33145) still have 1940s-to-1960s houses and duplexes under the FHA limit.

At the $799,000 house median, a 20% down buyer borrows $639,200 and stays conforming. At the $595,000 condo median, 5% down gives a $565,250 loan, inside both FHA and conventional limits.

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.

In Miami the limits matter most for 2-4 unit buyers. A Little Havana or Allapattah duplex can be financed with FHA up to $853,900 and a fourplex up to $1,282,700 with 3.5% down if you live in one unit, and the other units' rent can count toward qualifying.

Property taxes, insurance and flood zones in Miami

The City of Miami carries the second-highest total millage of the cities on this site. The 2025 adopted total millage is 19.9878 mills, about 2.0% of taxable value, including a city operating rate of 7.1080 plus 0.2536 for debt service (as of October 2026, Miami-Dade Property Appraiser). On a $595,000 condo that is roughly $11,900 a year before the homestead exemption, estimated at your purchase price.

Insurance: pre-1994 houses in Little Havana, Shenandoah and Flagami need a 4-point inspection and often a roof under 15 years old for a standard policy. In condos the master policy is paid through the HOA and lenders check it meets Fannie Mae and FHA minimums; you still need an HO-6 walls-in policy.

Flood: Brickell, Edgewater, Downtown, Coconut Grove and the Upper East Side along Biscayne Bay are mostly FEMA Zone AE (flood insurance required). Little Havana, Allapattah, Flagami and most of the west side are Zone X. In a condo the association's flood policy usually satisfies the lender; we verify it before closing.

Condos in Miami

In Miami the building review is the loan review. Towers built since 2005 usually pass; 1960s-to-1980s buildings along Brickell Avenue, Biscayne Boulevard and the bayfront are where milestone inspections, special assessments and non-warrantable findings cluster.

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. In Miami the City's building department enforces the 25-year coastal threshold for many bayfront buildings, so ask for the milestone report and the SIRS before you go under contract.

Also common in Miami: buildings with hotel-style short-term rental programs (Brickell, Downtown, Edgewater) that conventional lenders treat as condotels; new towers still in developer sales that need new construction condo financing.

Down payment help available to Miami buyers

Miami buyers can stack city, county and state money.

City of Miami First-Time Homebuyer Program: 0% deferred loans for first-time buyers at or below 80% of area median income purchasing a single-family home, townhome or condo inside city limits (folio numbers starting with 01). The city lists a maximum purchase price of $494,000 effective December 1, 2025. The first mortgage must be a 30-year fixed, you contribute at least $500, and the city shares in the gain if you sell before year 20 (305-416-2080).

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 $450,000 Little Havana house can combine the city program with MDEAT or county DPA; a $595,000 Brickell condo is over the city cap but may fit Hometown Heroes.

Which loan programs fit Miami buyers

• Conventional with 3% to 5% down for warrantable condos and houses under $832,750; the default for Brickell and Edgewater buyers with W-2 income.
• FHA with 3.5% down for houses and FHA-approved condos; the main tool for Little Havana, Flagami and Allapattah first-time buyers, including 2-4 unit owner-occupants.
• Jumbo loans for Coconut Grove and The Roads houses and bayfront condos above $832,750.
• Non-warrantable condo loans and condotel loans for the older bayfront buildings and the short-term-rental towers.
• Foreign national loans for international buyers of Brickell and Downtown condos, typically 25% to 30% down.
• DSCR loans for rental condos and small multifamily, qualified on rent; business-purpose, investment property only.
• Bank statement and P&L loans for the self-employed.

Why work with a Doral-based broker for Miami

QMS Lending is an independent mortgage broker founded in 2018 at 3105 NW 107th Ave, Suite 400-O6, Doral, FL 33172 (NMLS #1781090). Our office is 20 minutes west of Brickell on the Dolphin Expressway, and most Miami files move by email, e-sign and phone. What matters is that we have seen the condo questionnaires for the buildings you are looking at.

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 buyers

• City of Miami First-Time Homebuyer Program 0% deferred loan; income at or below 80% AMI; homes inside city limits up to $494,000 (effective Dec 1, 2025); $500 minimum buyer contribution. ↗
• 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

DoralCoral GablesMiami BeachHialeah