Mortgage Broker in Sunny Isles Beach, FL

Short answer

In Q2 2026 the median Sunny Isles Beach condo sold for $550,000, and 121 of 172 condo sales (about 70%) closed in cash, so financed buyers compete with cash and need a loan built around the building, not just the borrower. QMS Lending is an independent mortgage broker with 100+ lenders for warrantable, non-warrantable and condotel units on the oceanfront and the Intracoastal side.

The Sunny Isles Beach market in numbers

Sunny Isles Beach is a condo city. In Q2 2026 it recorded 172 townhouse/condo sales against 5 single-family sales, per Florida Realtors data published by MIAMI REALTORS (as of October 2026). Condos were about 97% of all closings.

• Median condo price: $550,000, down 23.6% year over year. The average was $1,558,848, which tells you a small number of large oceanfront units pull the average far above the middle of the market.
• Cash share: 121 of 172 condo sales, about 70%.
• Median time to contract: 165 days. Active condo inventory: 1,076 units, or 19.8 months of supply. That is a buyer's market by any measure, and it gives financed buyers room to negotiate repairs, credits and closing dates.
• Single-family: 5 sales at a median of $2,750,000, mostly in Golden Shores, the 1950s house neighborhood at the north end of the city.

Miami-Dade's countywide condo median in the same quarter was $425,000, so Sunny Isles sits about 29% above the county.

Why the building decides your loan

In Sunny Isles the condo association is reviewed as hard as you are. Before a Fannie Mae or Freddie Mac loan, the lender sends a condo questionnaire and checks the project against the guidelines.

• Reserves: the budget must put at least 10% toward replacement reserves.
• Delinquencies: no more than 15% of units 60 or more days late on dues.
• Critical repairs: unfunded repairs over $10,000 per unit due within 12 months, water intrusion, or an open special assessment tied to a critical repair make the project ineligible.
• Hotel-like operation: a building with a rental desk, daily or short-term rentals, or one marketed as a resort is ineligible for Fannie Mae. That is a condotel.
• Single-entity ownership: in a building of 21+ units, one owner may hold no more than 20%. Developers holding unsold units can trip this.

Fail an item and the unit is non-warrantable. That is not a denial. It moves you to a non-warrantable condo loan from a portfolio or non-QM lender, usually with a larger down payment. See our guide to condotel loans in Sunny Isles Beach for rental-program buildings.

Milestone inspections, SIRS and special assessments

Florida Statute 553.899 requires a milestone inspection for condo buildings three habitable stories or taller by December 31 of the year the building turns 30, measured from the certificate of occupancy, then every 10 years. The local building department may move the first inspection to 25 years because of proximity to salt water, which is the question to ask on an oceanfront barrier island.

Phase one is a visual review by a licensed engineer or architect. If it finds substantial structural deterioration, phase two testing follows, and that is where large special assessments come from. Associations must also fund a structural integrity reserve study (SIRS).

Sunny Isles has two condo eras: older mid-rise and high-rise buildings along Collins Avenue and the Intracoastal, and newer oceanfront towers. Older buildings are where lenders find assessments and reserve gaps. Before you sign, ask the listing agent for the milestone report, the SIRS, the current budget and any special assessment schedule. A seller-paid assessment can be negotiated in a 19.8-month-supply market.

Property taxes, flood and insurance

Sunny Isles Beach's 2025 total millage is 16.7227 mills, about 1.67% of taxable value and slightly below unincorporated Miami-Dade's 16.9317, per the Miami-Dade Property Appraiser (as of October 2026). The city's own operating rate is 1.7000 mills; the rest is the county (4.5740 plus 0.4171 debt), school board (5.4990 plus 1.0000 voted and 0.1340 debt), fire rescue (2.3965), library, Children's Trust and water districts. On a $550,000 condo that is roughly $9,200 a year before the homestead exemption, estimated at your purchase price.

Flood: the city says nearly all of Sunny Isles Beach lies in a flood zone, and it held a Community Rating System (CRS) Class 8 in its 2024 flood portal announcement. Flood insurance is required on a federally backed mortgage in a Special Flood Hazard Area. In a condo the association carries the master flood and wind policies inside the HOA fee; you add an HO-6 for interiors. Check the parcel on the city's flood risk portal or at the FEMA Flood Map Service Center.

Budget the HOA fee carefully. Lenders count it in your DTI, and oceanfront insurance has pushed many budgets up.

Loan programs that fit Sunny Isles Beach buyers

The 2026 FHA limit in Miami-Dade is $667,000 for one unit and the 2026 conforming limit is $832,750 (as of October 2026). The median condo fits both, but FHA also requires the building itself to be FHA-approved, which few oceanfront buildings are.

• Conventional: warrantable buildings; second homes are common here.
• Jumbo loans: oceanfront units with loan amounts above $832,750.
• Non-warrantable condo and condotel loans: buildings with rental programs, high investor or developer concentration, or open assessments.
• Foreign national loans: for buyers without U.S. credit or residency.
• DSCR loans: for investors qualifying on rent where the association allows rentals; business-purpose only.
• Bank statement loans: for self-employed buyers.

Why work with QMS Lending for Sunny Isles Beach

QMS Lending is an independent mortgage broker in Miami, FL, founded in 2018 (NMLS #1781090). We work Sunny Isles condo files every week, and closings run by e-sign and phone. We shop your file across 100+ wholesale lenders instead of one rate sheet, so a condo with a questionnaire problem or a self-employed borrower can land with the lender that wants that file.

The team is bilingual (English and Spanish), led by Michael Fernandez, NMLS #1491775, President, with 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 Sunny Isles Beach buyers

• Miami-Dade County Homebuyer Down Payment Assistance Up to $35,000, 0% deferred up to 30 years; income under $95,620 (1 person) to $136,500 (4); 1% buyer contribution; fixed-rate first mortgage only. ↗
• MDEAT Homeownership Assistance Program (HAP) Up to $28,500 (80% AMI or below) or $14,500 (above 80% up to 140% AMI); 0%, forgiven after 20 years of occupancy; no price cap; 2-4 units ineligible. ↗
• Florida Hometown Heroes Up to 5% of the first mortgage, $10,000 to $35,000, 0% deferred 30-year second; first-time buyers working full time for a Florida employer in eligible jobs. Funded in rounds. ↗

Nearby cities

AventuraNorth MiamiMiami BeachMiami Gardens