Miami Beach · primary, second home and international buyers
Miami Beach Jumbo Mortgage Rates
Jumbo financing for South of Fifth and Collins Avenue condos and island estates, whether Miami Beach is your main home, your winter home, or an investment from abroad.
We specialize in Miami Beach jumbo mortgage financing.
The island’s median sale, about $630,000 in mid-2026, hides how wide its market is. South of Fifth towers, the Venetian and Sunset Islands, and the homes along North Bay Road sell for many multiples of that, and the people buying them often split their year between Miami Beach and somewhere else. For a jumbo lender, whether the home is your primary residence, a second home or an investment changes the down payment, the reserves, the rate and the taxes you will pay.
On Mortgage sorts out which category fits, then compares jumbo lenders that are comfortable with it. Conventional, FHA and VA pricing sit on the Miami Beach mortgage rates page; you can also speak with our Miami Beach mortgage broker team.
Today’s Miami Beach Jumbo Mortgage Rate
$713 lender credit
No points, no credit
0.125 points
0.162 points
$672 lender credit
Par rate per program for a single-family primary residence in Miami-Dade County, 20% down, 780+ credit, 30-day lock, escrows included. Rates change through the day and are not a commitment to lend. Price your own Miami Beach scenario, no credit pull.
Miami Beach Jumbo Loan Benefits: High-Value Financing for High-Value Homes
A jumbo loan keeps a large purchase in one mortgage, but the cost of owning the same apartment depends on how you will live in it. Florida’s homestead exemption and its cap on assessment increases apply only to a permanent residence, and lenders ask for more down and more reserves on a second home. The same $2.5 million South of Fifth condo, at today’s jumbo rate, shows where the difference really lands: in the cash you need, not the first-year payment.
| $2,500,000 condo, South of Fifth | Primary residence | Second home |
|---|---|---|
| Typical down payment | 20%: $500,000 | 25%: $625,000 |
| Jumbo loan | $2,000,000 | $1,875,000 |
| Principal and interest | $12,641 | $11,851 |
| Property tax, first year | $2,500 | $2,500 |
| Dues and unit insurance | $3,000 | $3,000 |
| Monthly cost | $18,141 | $17,351 |
| Reserves, at a common ask | 12 months: $217,696 | 18 months: $312,323 |
Both columns use this morning’s 6.500% jumbo par quote for Miami-Dade; many lenders price second homes slightly higher. Property tax uses the county’s average millage, with the homestead exemption only on the primary residence; in later years, homestead assessments are also capped at 3% a year, against 10% for non-school taxes on other property. Dues and insurance are illustrative.
Jumbo Loans in Miami Beach for High-Value Purchases and Refinances
International buyers are a big part of the island’s market. Buyers who are not U.S. citizens or permanent residents can finance through foreign national jumbo programs, typically with 30% to 40% down, a higher rate, and income and asset documents from their home country, translated and verified. Funds wired from abroad must be traceable, and lenders usually want them seasoned in a U.S. account before closing. A U.S. credit score is not always required.
Owners refinancing on the island tend to want one of three things: cash out of a property bought years ago, a lower rate than an adjustable jumbo that is about to reset, or a new structure such as interest-only to free up monthly cash flow. Jumbo cash-out is usually limited to a lower share of value than a purchase, and lower still for second homes.
Miami Beach Jumbo Mortgage Rates and High-Balance Loan Options
From South of Fifth and the Collins Avenue towers to the Venetian Islands, Sunset Islands and North Bay Road, we compare fixed jumbos, adjustable jumbos and interest-only structures from banks and portfolio lenders. Buyers who keep large balances with a private bank sometimes qualify for relationship pricing, a rate discount for moving assets to the lender, and we weigh that against what the open market offers.
Self-employed and internationally paid buyers can look at bank-statement or asset-based jumbo programs, which qualify on deposits or on investable assets instead of tax returns. They cost more, but they solve files that a traditional jumbo cannot.
Jumbo Loan Size in Miami Beach
Miami Beach is in Miami-Dade County, where the 2026 conforming limit for a one-unit home is $832,750. A loan above that amount is a jumbo. On the island, that line is crossed by almost every house and by condos from roughly the low seven figures up with a typical down payment. Waterfront single-family homes on the islands and North Bay Road usually need jumbo financing well into the millions, often with a second appraisal on the largest loans.
Jumbo Loans for Oceanfront and Bayfront Condos
The towers along Collins Avenue and in South of Fifth range from boutique buildings to resort-style projects with hotel programs. Lenders look closely at buildings where many units are rented nightly, where a developer still owns a large share of units, or where the association is funding major structural work under Florida’s condo safety laws. A unit in such a building may still be financeable, but with fewer lenders and more down. We read the questionnaire, budget and reserve study before you commit.
Insurance is the other review. The association’s master policy must carry wind and flood coverage for an oceanfront or bayfront building, and lenders confirm it before closing. On an island house, flood coverage above the federal program’s limit usually means a private excess flood policy.
Why Compare Miami Beach Jumbo Rates
Miami Beach listings averaged about 130 days on the market in mid-2026, so buyers have time to line up the right financing. Because each jumbo lender sets its own rules for second homes, international buyers and condo towers, the spread between offers is wider here than almost anywhere in Florida. Comparing them is how a high-balance purchase stays affordable.
Your Local Miami Beach Jumbo Mortgage Specialist
Start to finish, we organize your file, verify assets and reserves, and match it to the lender that fits the property and how you will use it.
Second homes
Occupancy, taxes and reserves planned.
International buyers
Foreign documents and wires handled.
Tower reviews
Rental programs and finances checked.
Frequently Asked Questions: Jumbo Loans
Can I get a jumbo loan on a Miami Beach second home?
Yes. Lenders typically want a larger down payment and more reserves than on a primary home, and you must use the home yourself rather than rent it out regularly.
Can foreign nationals get a jumbo mortgage in Miami Beach?
Yes, through foreign national programs. Expect 30% to 40% down, a higher rate, and documented income and assets from your home country, with funds traceable into a U.S. account.
Do I get the homestead exemption on a Miami Beach second home?
No. The homestead exemption and its 3% assessment cap apply only to a permanent residence. Other property gets a 10% cap on non-school taxes after the first year.
How much do I need in reserves for a Miami Beach jumbo?
Often 12 months of payments on a primary home and 18 months or more on a second home or larger loan, depending on the lender.
What makes a loan jumbo in Miami Beach?
A loan amount above Miami-Dade’s 2026 conforming limit of $832,750 for one unit. The limit applies to the loan, not the price.
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Price your Miami Beach jumbo loan
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