Live pricing for Miami-Dade County · updated 10/26/2026
Miami Mortgage Rates
From Brickell high-rises to Coral Gables estates, today’s live rates for every Miami neighborhood, priced across many wholesale lenders and shown with the costs attached.
Today’s Miami Mortgage Rates
No points, no credit
0.250 points
$64 lender credit
0.292 points
0.410 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 Mortgage Rates Today: From Brickell Condos to Coral Gables Estates
As of 10/26/2026, the par rate on a 30-year fixed purchase loan for a Miami-Dade single-family home, with 20% down and a 780 credit score, is 6.750% from our lender panel, with no points paid or credit received. Your own rate moves from there with your scenario.
Miami is one of the most distinctive mortgage markets in the country, and the rate you qualify for depends heavily on what you are buying. Single-family homes across Miami-Dade generally trade in the high $600,000s, while the condo market, the heart of Brickell, Downtown and Miami Beach, sits much lower, often near the low $400,000s. Those two markets are priced differently by lenders, and a quote that ignores the difference is not a real quote.
On Mortgage prices every scenario against many wholesale lenders, so whether you are financing a Coconut Grove house or a high-rise unit on Biscayne Bay, you see the sharpest rate for your loan-to-value and credit profile, not a one-size-fits-all number. The strip above is live: click any program to open the full rate table for that loan, change the inputs, and see every rate and cost combination our lenders are offering today.
What moves your Miami mortgage rate
Lenders start from a base price and then adjust it for risk. In Miami, these are the adjustments that matter most, and the ones worth planning around before you apply:
| Factor | How it affects a Miami rate | What you can do |
|---|---|---|
| Condo or house | Conventional lenders add a pricing adjustment on condos with less than 25% down, and the building itself must qualify | Put 25% down on a condo when you can, and confirm the building is warrantable before you offer |
| Loan size | Loans above the Miami-Dade conforming limit are jumbo loans, priced by each lender’s appetite rather than by agency grids | If you are just over the line, compare a slightly larger down payment that keeps you conforming |
| Credit score | Pricing improves in steps, with the biggest jumps typically between the mid-600s and the high 700s | Pay revolving balances down before the credit pull; we can show you which step you are near |
| Down payment | Less equity means higher pricing and, on conventional loans, mortgage insurance until you reach 20% | Compare 10%, 15% and 20% down; the best value is often at a breakpoint |
| Occupancy | Second homes and investment properties price higher than a primary residence | Finance honestly; a part-time residence can often be a second home, not an investment |
| Points or credits | Paying points lowers the rate; accepting a lender credit raises it and lowers your cash to close | Choose based on how long you will keep the loan; we show the break-even month |
| Lock length | Longer rate locks cost more, which matters on new construction | Match the lock to the real closing date |
Financing a Condo in Brickell, Downtown & Miami Beach
Roughly half of Miami’s housing stock is condominiums, so condo financing expertise matters more here than almost anywhere. Florida’s newer condo laws, including milestone structural inspections, mandatory structural reserves and the 2025 changes in HB 913, have reshaped which buildings are warrantable and eligible for conventional financing. A unit in a building that has finished its inspections and funded its reserves can get competitive conventional pricing. A unit in a building still catching up may only qualify with a portfolio lender, at a higher rate and with more money down.
That is why the rate on a Miami condo starts with the building, not the buyer. On Mortgage reviews the condo questionnaire and reserve study up front, flags buildings likely to face special assessments, and matches you with lenders who will finance the units other brokers walk away from. In Brickell and Edgewater, newer towers built in the last two decades often qualify easily, while some older bayfront and Miami Beach buildings need a closer look.
Condo buyers using FHA should know the project itself must be on FHA’s approved list; see our Miami FHA loan guide for how that works.
Miami Jumbo & Luxury Loans
Waterfront and luxury purchases in Coral Gables, Coconut Grove, Key Biscayne and Miami Beach routinely exceed conforming limits, which puts them into jumbo territory. Jumbo rates are not set by the agencies, so each lender prices them on its own appetite, and the gap between lenders on the same day can be much wider than on a conforming loan.
On Mortgage works with a deep bench of jumbo and portfolio lenders, including options for international and self-employed buyers, so high-balance and interest-only structures are priced competitively.
Many Miami jumbo borrowers also compare adjustable rates fixed for seven or ten years, which often start below a 30-year fixed, and interest-only periods that keep cash flow flexible. We price the structures side by side.
Learn more on our Miami jumbo mortgage rates page, or see how our Miami mortgage broker team secures the best rate on a purchase or refinance. For FHA options in Miami, see our Miami FHA loan guide.
Miami refinance rates today
$531 lender credit
0.250 points
$64 lender credit
0.292 points
$1,748 lender credit
Rate-and-term refinance pricing for a Miami-Dade single-family primary residence with 20% equity and 780+ credit. Cash-out refinances price differently; choose cash-out on the full rate page to compare. Price your own Miami scenario, no credit pull.
Refinancing a Miami mortgage
Miami refinance rates follow the same market as purchase rates, with a few differences. A straight rate-and-term refinance usually prices close to a purchase. A cash-out refinance prices higher and limits how much equity you can take, and condo refinances still depend on the building being eligible.
The question is not whether rates are lower, but whether the savings pay back the closing costs before you would sell or refinance again. Our refinance calculator shows that break-even month. Common reasons Miami homeowners refinance:
- A lower rate than the one they locked when rates were higher
- Removing FHA mortgage insurance by moving to a conventional loan once equity reaches 20%
- Cash out for a new roof, impact windows or shutters, which often lower insurance too
- Paying off a special assessment on a condo
- Moving from an adjustable rate to a fixed rate before it adjusts
Read more on our refinance page.
Rates around Miami: how neighborhoods price
Every Miami-Dade neighborhood gets the same base pricing. What changes is the property and the loan size, and those vary a lot by area:
Brickell & Downtown
Mostly condos, from newer towers to older bayfront buildings. Rates depend on warrantability and down payment, with 25% down earning the best condo pricing.
Edgewater & Wynwood
Newer condos and townhomes popular with young buyers. Conventional loans with 5% to 10% down are common, priced with mortgage insurance.
Coconut Grove
Single-family homes and townhomes under a tree canopy, many at prices that reach jumbo loan sizes.
Coral Gables
Larger homes and estates where jumbo pricing and reserves drive the rate. Strong credit and 20% or more down unlock the best tiers.
Miami Beach
Condos and waterfront homes; see Miami Beach mortgage rates for warrantable versus non-warrantable pricing and second-home loans.
Key Biscayne
Island condos and homes, mostly jumbo and frequently second homes, with flood insurance on nearly every loan.
What taxes and insurance add to a Miami mortgage payment
A Miami rate quote only tells part of the story. Miami-Dade’s average homeowners premium is among the highest in Florida, and property taxes on a homesteaded home add a few hundred dollars more each month. Here is the escrow on a single-family home at the Miami-Dade single-family median. Condo owners pay a smaller HO-6 policy instead, with the building’s insurance included in their HOA dues, which lenders also count. Our closing cost calculator shows the upfront side, including Florida’s documentary stamp and intangible taxes on the mortgage.
Sources: Florida county homeowners insurance premiums (worthinsurance.com) and county total millage (movewithmomentum.com), updated October 2026. Your own premium depends on the home’s age, roof, construction and wind mitigation features, and flood coverage is a separate policy. Property tax and homeowners insurance are estimates (1.2% and 0.85% of the home’s value per year). Your actual taxes and insurance premium depend on the property, exemptions and the policy you choose, and will be confirmed on your Loan Estimate. Run your own numbers.
Rate versus APR on a Miami quote
The interest rate sets your monthly principal and interest. The APR folds in the lender’s fees and any points, spread over the life of the loan, so it is the better number for comparing two offers with different costs. A quote with a low rate and a high APR usually means you are paying points or heavy fees to get that rate.
Every rate on this page and in our rate finder shows both, along with the points or lender credit, so you can compare honestly. Rates move during the day as markets change, and a quote is not locked until you lock it, which we do the moment you are ready.
Our Reviews
What Florida borrowers say after closing with On Mortgage. Five stars on Google (130 reviews) and Zillow (92 reviews).
“Caroline Da Silva from Miami Mortgage Brokers just got us approved for our first mortgage, and we would definitely work with her again after this experience! From the moment our broker connected us with Caroline, she was always several steps ahead throughout the process. We were impressed that Miami Mortgage Brokers had us clear to close a week early,...”
“Chris was outstanding throughout the entire transaction! Always accessible and was able to provide the best financing option when others could not! I would highly recommend him and hope to do more transactions with him.”
“I recently had the pleasure of working with Chris as my loan officer, and I cannot speak highly enough of his exceptional service. He guided me through every step with clarity and patience. What truly sets Chris apart is his remarkable efficiency: not only was he incredibly responsive to my inquiries, but he also expedited the loan process, resulting in the...”
Miami Mortgage Rates: Frequently Asked Questions
What are today's Miami mortgage rates?
Miami mortgage rates update daily and are shown live at the top of this page, where today’s par rate on a 30-year fixed for a Miami-Dade single-family home with 20% down and a 780 score is 6.750%. Your actual rate depends on your loan amount, home value, credit score and whether you are financing a single-family home or a condo. Use the rate tool to see pricing built for your scenario.
Is it harder to finance a condo in Miami?
It can be. Roughly half of Miami’s housing is condominiums, and Florida’s condo laws now require milestone inspections and funded reserves. Conventional lenders only finance warrantable buildings, so On Mortgage reviews the condo questionnaire and reserve study up front and matches you with lenders who will finance your unit, including portfolio lenders for buildings that do not qualify.
Do I need a jumbo loan to buy in Miami?
Many single-family and waterfront homes in Coral Gables, Coconut Grove and Key Biscayne exceed the Miami-Dade conforming limit and require a jumbo loan. Jumbo pricing varies more between lenders than conforming pricing, so comparing several matters. On Mortgage works with jumbo and portfolio lenders, including options for self-employed and international buyers.
How much down payment do I need in Miami?
It varies by loan type: as little as 3.5% with an FHA loan, 3% to 5% on many conventional loans, and 0% for eligible VA borrowers. Jumbo and condo purchases may require more, and a condo with 25% down usually gets better conventional pricing. We will show your options side by side.
Can On Mortgage help first-time buyers in Miami?
Yes. We help first-time buyers compare FHA, conventional and down payment assistance options across Miami-Dade, check whether a condo building can be financed, and pre-approve you so you can shop with confidence and a clear monthly budget.
Are Miami refinance rates the same as purchase rates?
A rate-and-term refinance usually prices close to a purchase loan with the same equity. A cash-out refinance prices higher and is limited by how much equity you keep. Condo refinances still depend on the building qualifying. The refinance strip on this page shows today’s rate-and-term pricing for Miami-Dade.
More for Miami borrowers
Nearby in Miami-Dade
Lock in a Miami rate with On Mortgage
See your exact rate and costs for a Miami purchase or refinance, compared across many lenders, with no credit pull to look. When you are ready, we lock it and guide you to closing.