Mortgage Broker in Opa-locka, FL

Short answer

Opa-locka's median house sold for $516,500 in Q3 2026, under Miami-Dade's $667,000 FHA limit, so an eligible buyer may purchase with 3.5% down, about $18,078, plus closing costs. QMS Lending is an independent mortgage broker that compares Opa-locka FHA, VA, conventional and down payment assistance loans across 100+ lenders, in English and Spanish.

What homes cost in Opa-locka right now

Opa-locka recorded 17 single-family sales in Q3 2026 at a median of $516,500, up 15.3% from a year earlier, per Florida Realtors data published by MIAMI REALTORS on October 16, 2026 (as of November 2026). Sellers got a median 98.2% of their original list price, and the median time to contract was 68 days.

This is a financed market: only 1 of the 17 house buyers paid cash. That means your offer competes with other FHA and conventional buyers, not with cash investors, and a solid pre-approval with the appraisal and repair questions answered early carries real weight. Supply is about 5.7 months with 30 active listings.

Condos are a small slice. Only 4 townhouse and condo sales closed in Q3 2026, at a median of $292,000, with 2 active listings. With so few sales, price a condo on its own comparables.

Opa-locka covers about 4.5 square miles with 16,463 residents (2020 census), ZIP 33054, between Miami Gardens to the north and Hialeah to the southwest. Aviation pioneer Glenn Curtiss founded it in 1926, and it holds one of the largest groups of Moorish Revival buildings in the Western Hemisphere; twenty are on the National Register of Historic Places. The county-owned Opa-locka Executive Airport and the Tri-Rail Opa-locka station are both in the area.

FHA, VA and conventional at Opa-locka prices

The Miami-Dade FHA 1-unit limit is $667,000 and the 2026 conforming limit is $832,750 (as of November 2026). At the median price, every common loan type fits:

• FHA, 3.5% down: $18,078 down on $516,500 leaves a base loan of about $498,423. The upfront MIP of 1.75% adds about $8,722, usually financed into the loan, and the annual MIP of 0.55% is about $2,741 a year, or $228 a month. FHA allows credit scores and debt ratios that conventional loans often do not.
• Conventional, 3% to 5% down: first-time buyers may qualify with 3% down ($15,495). Private mortgage insurance can be removed later, which FHA's annual MIP usually cannot be on a low down payment.
• VA: eligible veterans and service members may buy with no down payment. Start by getting your certificate of eligibility.

Self-employed buyers who write off a lot of income can look at a bank statement loan, and buyers paid in cash wages or using an ITIN may look at an ITIN loan. See how the two main options compare in FHA vs. conventional in Miami-Dade.

Down payment help for Opa-locka buyers

Opa-locka's prices sit where county and state help can make a real difference (as of November 2026):

• Miami-Dade Homebuyer Down Payment Assistance: up to $35,000 as a 0% deferred loan with no monthly payment, for households under $136,500 (family of four); you put in 1% of the price. If you sell within 6 years, the county shares in the profit.
• MDEAT Homeownership Assistance: up to $28,500 at or below 80% of area median income, forgiven after 20 years living in the home, subject to funds.
• Florida Hometown Heroes: 5% of the first mortgage ($10,000 to $35,000) for eligible first-time buyers in qualifying jobs, plus military and veterans. On a $498,423 loan, 5% is about $24,921.

Programs have their own income charts, buyer education rules and lender lists, and some can be stacked while others cannot. The Opa-locka Community Development Corporation offers an eight-hour first-time buyer class and one-on-one credit counseling, which many programs require. See our Florida down payment assistance guide and first-time buyer guide.

Opa-locka property taxes and closing costs

Opa-locka's 2025 adopted total millage is 24.0024 mills, about 2.40% of taxable value, per the Miami-Dade Property Appraiser (as of November 2026). The city's own operating rate is 8.9797 mills, much higher than many neighbors, and the rest is county, school board, Fire Rescue, library, Children's Trust and water district levies.

On a $516,500 house that is about $12,400 a year before the homestead exemption, roughly $1,033 a month in escrow. Lenders count the full tax in your debt-to-income ratio, so it changes how much house you qualify for. The Save Our Homes cap resets at purchase, so budget on your price, not the seller's bill.

Florida also taxes the mortgage itself: documentary stamps of $0.35 per $100 on the note and a 2-mill intangible tax. On a $498,423 loan that is about $1,744 in doc stamps and $997 in intangible tax. Seller credits and assistance programs can help cover these. See closing costs for Florida buyers.

Flooding, insurance and older homes

Parts of Opa-locka flood in heavy rain. In November 2023, rain flooded first-floor units at an apartment complex in the city, and the interim city manager said the job was beyond what the city's public works department could handle alone and asked the county for help. Low-lying lots near canals carry the most risk.

Miami-Dade's effective FEMA maps date from September 11, 2009, and preliminary new maps released February 25, 2021 are not yet in effect (as of November 2026). In AE and AH zones, a federally backed loan requires flood insurance; in Zone X it is optional but worth pricing. Check the exact address on the county map or the FEMA Flood Map Service Center, and read what a flood zone means for your loan.

Much of the housing is older block construction, so insurers usually want a 4-point inspection, and a wind mitigation report can lower the premium. FHA appraisers also flag safety items such as roofs, electrical and peeling paint on older homes, so a home inspection before the appraisal saves time. Buying one of the historic Moorish Revival properties? Ask the city about permit rules for exterior changes before you plan a remodel.

Working with QMS Lending in Opa-locka

QMS Lending is an independent mortgage broker in Miami, FL, founded in 2018 (NMLS #1781090). We compare your file across 100+ wholesale lenders instead of one bank's menu, and most of the process runs on e-sign and phone, so you do not need to drive across the county to sign.

The team is bilingual (English and Spanish), led by Michael Fernandez, NMLS #1491775, President, and rated 4.9 stars across 200+ Google reviews. Our office is at 3105 NW 107th Ave Ste 400-O6, Doral, FL 33172. Rates vary daily; call 305-425-1990 for today's pricing. Subject to credit approval and property eligibility. Equal Housing Opportunity.

Down payment help for Opa-locka buyers

• Miami-Dade County Homebuyer Down Payment Assistance Up to $35,000 as a 0%, deferred loan of up to 30 years, no monthly payment; the county shares in the profit if you sell within 6 years (100% in years 1-3, 50% in years 4-6). Household income under $136,500 for a family of four, 1% of the price from your own funds. 786-469-2209. ↗
• Miami-Dade Economic Advocacy Trust (MDEAT) Homeownership Assistance Program Up to $28,500 at or below 80% AMI and $14,500 above 80% up to 140% AMI; 0%, no payments, forgiven after 20 years of owner occupancy. 1% of the price from your own funds up to 100% AMI, 3% above. Paid as funds allow. ↗
• Florida Hometown Heroes Up to 5% of the first mortgage ($10,000 minimum, $35,000 maximum) as a 0%, 30-year deferred second mortgage, not forgivable; due on sale, refinance or move-out. First-time, income-qualified buyers working full time for a Florida employer in eligible jobs, plus active military and veterans. Check funding before you count on it. ↗
• Opa-locka Community Development Corporation (OLCDC) Eight-hour first-time homebuyer education, one-on-one credit and savings counseling, and home repair loans up to $30,000 for owner-occupants in Opa-locka. Ask them about current homes and funding. ↗

Nearby cities

Miami GardensHialeahMiami LakesNorth MiamiHialeah Gardens