Miami · jumbo loans for towers and houses
Miami Jumbo Mortgage Rates
Jumbo financing for Brickell and Edgewater high-rises, Coconut Grove and Coral Gables homes, and bayfront property, with the down payment, monthly cost and reserves worked out at today’s jumbo rate.
We specialize in Miami jumbo mortgage financing.
In Miami, a jumbo loan is not a luxury product. A two-bedroom in a newer Brickell tower, a renovated house in the Grove, or almost anything on the water can call for a loan above the conforming limit. What makes Miami jumbos different is the mix: half of the market is condominium towers, many of them full of investors, short-term renters and international owners, and jumbo lenders treat those buildings very differently from a single-family house in Coral Gables.
On Mortgage compares jumbo lenders, including portfolio lenders that keep loans on their own books and set their own rules, so a building one lender turns down can often be financed by another. Compare every program on the Miami mortgage rates page, or talk with our Miami mortgage broker team.
Today’s Miami Jumbo Mortgage Rate
0.112 points
No points, no credit
0.250 points
0.064 points
0.224 points
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 scenario, no credit pull.
Miami Jumbo Loan Benefits: High-Value Financing for High-Value Homes
A jumbo loan finances the whole purchase in one mortgage, with a fixed rate available for 30 years, instead of stacking a conforming first mortgage with a second loan. Lenders ask more in return: a larger down payment, strong credit, and cash left in the bank after closing. Here is what that looks like for two typical Miami jumbo purchases at today’s rate:
| Jumbo purchase, primary home | Brickell condo, $1,800,000 | Coconut Grove house, $2,400,000 |
|---|---|---|
| Down payment | 25%: $450,000 | 20%: $480,000 |
| Jumbo loan | $1,350,000 | $1,920,000 |
| Principal and interest | $8,644 | $12,294 |
| Property tax, after homestead | $1,800 | $2,400 |
| Insurance (unit policy for the condo) | $350 | $1,700 |
| Association dues | $1,900 | None |
| Monthly housing cost | $12,694 | $16,394 |
| Reserves at 12 months of that payment | $152,330 | $196,728 |
Miami-Dade 30-year jumbo par of 6.625% this morning. Taxes use the county’s average millage; house insurance is a Miami-Dade market estimate scaled to value; the condo uses an illustrative unit policy and dues. Reserve requirements vary by lender and loan size, from about six months to two years of payments, and retirement accounts usually count at a discount.
Jumbo Loans in Miami for High-Value Purchases and Refinances
Buying is only half of Miami’s jumbo business. Owners who bought or refinanced years ago often come back for a jumbo refinance: to remove a co-borrower after a divorce, to take cash out for a renovation, or to replace an adjustable loan nearing its reset. Jumbo cash-out is available, usually at lower loan-to-value limits than a purchase, and a rate-and-term refinance needs the same documentation as a purchase.
What jumbo underwriters typically look for, beyond what a conforming loan needs:
- Credit in the 700s, with the best pricing at the top tiers
- Two years of income history, fully documented; tax returns for business owners
- Debt ratios that some lenders cap below conforming levels
- Reserves measured in months of the full housing payment
- Sometimes a second appraisal on larger loans
Miami Jumbo Mortgage Rates and High-Balance Loan Options
For buyers in Brickell, Coconut Grove, Coral Gables, Edgewater and the waterfront along Biscayne Bay, we compare fixed-rate jumbos, adjustable jumbos that start lower for buyers who expect to sell or refinance within several years, and interest-only options for borrowers with strong assets who want a lower required payment. Self-employed buyers can also look at bank-statement jumbo programs, which qualify on deposits rather than tax returns, at a higher rate.
Jumbo pricing does not follow the agency’s fixed adjustment tables, so two lenders can quote noticeably different rates on the same file. On a $1.5 million loan, a quarter point is worth roughly $250 a month. That is the reason to compare.
Jumbo Loan Size in Miami
A loan is jumbo when it is larger than the conforming limit for the county. In Miami-Dade, the 2026 limit for a single-family home or condo is $832,750, so a loan of $832,751 or more is jumbo, whatever the price of the home. That means a $1 million purchase with 20% down is a jumbo loan, while the same purchase with about 17% down is not. Buyers near the line often save by putting just enough down to stay conforming, and we run both versions. For two- to four-unit buildings, the conforming limits are higher.
Jumbo Loans for High-Rise and Waterfront Condos
Miami’s towers are where jumbo lenders differ most. A building can be “non-warrantable” for reasons that have nothing to do with your unit: a hotel-style rental program, one owner holding many units, a large share of commercial space, pending litigation, or reserves and structural work still underway under Florida’s newer condo safety rules. Many jumbo lenders will not lend in such a building, and those that do often want 25% to 30% down and price higher.
We review the condo questionnaire, the budget and the latest structural and reserve studies before you go to contract, and line up a lender that is comfortable with the specific building. On the water, insurance matters as much as the loan: the association’s master policy must carry adequate wind and flood coverage, and your unit policy covers the interior.
Why Compare Miami Jumbo Rates
Miami’s citywide median was near $595,000 in mid-2026, but the neighborhoods where jumbos cluster sell for several times that. Because jumbo loans are underwritten to each lender’s own standards, rates, reserve requirements and condo rules all vary. Comparing them is the most reliable way to save on a high-balance Miami loan.
Your Local Miami Jumbo Mortgage Specialist
From pre-approval through closing, we help you present a strong jumbo file and match it to the right lender for the property.
Building review
Warrantability, budget and insurance checked early.
Reserves planned
Assets organized the way underwriters count them.
Lenders compared
Banks and portfolio lenders side by side.
Frequently Asked Questions: Jumbo Loans
What is a jumbo loan in Miami?
Any loan above the county’s conforming limit, which in Miami-Dade is $832,750 for a one-unit home in 2026. It is based on the loan amount, not the price, so your down payment decides whether a purchase is jumbo.
How much do I need to put down on a Miami jumbo loan?
Often 10% to 20% on a house with strong credit, and 20% to 30% on many condos, especially in non-warrantable buildings. Some lenders offer lower down payment jumbos at higher rates.
How much in reserves do jumbo lenders want?
Commonly six to twelve months of the full housing payment, and more on larger loans or second homes. Retirement and investment accounts usually count, sometimes at a discount.
Can I get a jumbo loan on a condo-hotel or non-warrantable condo in Miami?
Sometimes. Fewer lenders will do it, and they usually require a larger down payment and a higher rate. We review the building first to find a lender that accepts it.
Are jumbo rates higher than conforming rates?
Not always. Jumbo pricing depends on the lender, and for strong borrowers jumbo rates can be close to or even below conforming. Compare the live strip above.
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