Miami Jumbo Loans (2026): Miami-Dade Limits, Condo Rules and Real Jumbo Loan Data

Short answer: In Miami and the rest of Miami-Dade County, any one-unit mortgage above $832,750 is a jumbo loan in 2026, per the FHFA. Miami-Dade uses the national baseline limit, so there is no high-balance tier: the jumbo line and the baseline are the same number. Jumbo lenders write their own rules on credit, reserves, debt-to-income and condo buildings. In Miami, the condo building, the insurance bill and the property tax estimate often decide a jumbo approval as much as your income does. iQRATE Mortgages (NMLS 1862492) is a Florida-licensed mortgage broker that compares jumbo programs across more than 100 lenders. Call or text (702) 766-3744 or apply now.

By David Ghazaryan, Mortgage Broker, NMLS 1486726 | iQRATE Mortgages, NMLS 1862492 | Updated November 9, 2026. Figures on this page come from the FHFA 2026 conforming loan limit file, iQRATE's analysis of 2025 public HMDA loan-level data for Miami-Dade County, MIAMI REALTORS September 2026 statistics, U.S. Census Bureau ACS 2020-2024 estimates, the Miami-Dade Property Appraiser's 2025 adopted millage, Florida statutes and Fannie Mae condo project guidance. Local sources were checked October 30, 2026. For every Miami loan program, not just jumbo, see our Miami mortgage broker guide.

In 2025, about one in eight Miami-Dade home purchase loans was a jumbo: 2,068 of 17,259 originated first-lien purchase loans. The median jumbo purchase loan was $1,285,000 (HMDA, iQRATE analysis).

Key facts for Miami jumbo buyers (2026)

• Jumbo threshold, 1 unit: loan above $832,750 in Miami-Dade, Broward and Palm Beach counties (FHFA).
• No high-cost tier here: the $1,249,125 high-cost ceiling does not apply in South Florida (FHFA).
• 2025 Miami-Dade jumbo purchase loans: 2,068, or 12.0% of first-lien purchase loans; median loan $1,285,000 (HMDA).
• Big loans are common: 226 Miami-Dade jumbo purchase loans in 2025 were $3 million or more (HMDA).
• Adjustable and interest-only use: 37.8% of 2025 jumbo purchase loans had an adjustable or introductory rate, and 15.2% were interest-only (HMDA).
• Condo rules: buildings three or more habitable stories tall need milestone inspections and structural integrity reserve studies (Fla. Stat. 553.899; Fla. Stat. 718.112).
• Licensing: iQRATE Mortgages, NMLS 1862492; David Ghazaryan, NMLS 1486726. Licensed in Nevada, California, Texas and Florida.

What counts as a jumbo loan in Miami in 2026?

A jumbo loan is a mortgage larger than the conforming loan limit. Fannie Mae and Freddie Mac do not buy loans above that limit, so each jumbo lender or investor writes its own rulebook instead.

The FHFA resets the limit every year. For 2026, Miami-Dade uses the national baseline for every unit count (FHFA 2026 announcement).

2026 conforming loan limits in South Florida (above these amounts is jumbo)

Source: FHFA, Conforming Loan Limits for Mortgages Acquired in Calendar Year 2026 (full county list). National baseline $832,750; high-cost ceiling $1,249,125, which does not apply in South Florida.

Does Miami-Dade have a higher “high-cost” limit?

No. Under the FHFA 2026 file, Miami-Dade, Broward and Palm Beach all use the national baseline. A one-unit loan above $832,750 anywhere in Miami-Dade is a jumbo, including Miami Beach, Coral Gables, Key Biscayne and the City of Miami.

Why do some Miami jumbo guides still show $806,500?

That was the 2025 baseline limit. Some pages published in 2026 still use it as the jumbo line. If a quote or guide uses $806,500 for a 2026 loan, check whether its other numbers are stale too, and ask the lender or broker to confirm the $832,750 figure in writing.

Does the limit apply to the price or the loan?

The loan amount. A home priced above $832,750 can still carry a conforming loan if the loan itself stays at or below $832,750. Two other limits matter in Miami-Dade: FHA's one-unit limit is a separate, lower $667,000, and veterans with full VA entitlement have no VA loan limit (see the VA loan limits page).

How common are jumbo loans in Miami-Dade?

Every lender reports loan-level data under the Home Mortgage Disclosure Act. iQRATE downloaded the 2025 file for Miami-Dade County (FIPS 12086) and counted every originated first-lien home purchase loan: 17,259 loans from 444 different lenders. This is county data. It covers the City of Miami plus Miami Beach, Coral Gables, Key Biscayne, Pinecrest and the county's other municipalities, so it is not limited to Miami city limits.

2025 Miami-Dade jumbo purchase loans (2,068 loans above the conforming limit)

Source: FFIEC HMDA Data Browser, 2025 loan-level data, Miami-Dade County; iQRATE analysis of originated first-lien purchase loans. The full method note is on our Miami mortgage broker guide. Checked October 30, 2026.

The size mix tells you what a Miami jumbo usually looks like. More than half of 2025 jumbo purchase loans (1,062 of 2,068) were between $1 million and $2 million. Only 86 were $5 million or more. A Miami jumbo is far more often a seven-figure condo or single-family purchase than an eight-figure estate.

How does that compare with the whole Miami-Dade market?

Jumbo borrowers use non-standard structures far more often. Across all 17,259 purchase loans, 9.1% had an adjustable or introductory rate and 5.0% were interest-only. Among jumbo loans, those shares were 37.8% and 15.2%, three to four times the market rate.

2025 Miami-Dade purchase loans: jumbo vs. the whole market (HMDA)

Put simply: a lender menu that stops at one plain fixed-rate product will miss a large share of real Miami jumbo files.

How active are investors in Miami jumbo financing?

Very active. In the 2025 HMDA file, one in five Miami-Dade purchase loans financed an investment property, and 409 jumbo purchase loans were for investment property. Investor jumbo files usually face stricter equity and reserve rules than primary homes, and investor loans are for business purposes only. David, who invests in real estate himself, puts the investor question this way:

“One thing being a real estate investor has taught me is that getting a loan approved and making a good investment are two different things. I've seen investors spend weeks negotiating a purchase price and then barely examine the financing terms. They focus on the interest rate. I look at the entire transaction: cash invested, monthly carrying costs, reserves, prepayment penalties, and the exit strategy.” — David Ghazaryan

Is Miami a bigger jumbo market than Las Vegas?

Yes, by a wide margin. In our 2025 HMDA analysis for Las Vegas, 4.04% of Las Vegas metro purchase loans were jumbo, with a median jumbo loan of $1,135,000. In Miami-Dade County, the jumbo share was 12.0% and the median jumbo loan was $1,285,000. The scopes differ: the Las Vegas figure covers the metro area and the Miami figure covers the county. Both come from the same public HMDA source.

Want to know where your Miami loan lands against these numbers? Call or text (702) 766-3744, apply now or contact us to schedule a call.

Where do jumbo prices show up in Miami-Dade?

Most Miami-Dade homes sell below the jumbo line. Jumbo financing clusters in a handful of higher-value municipalities and in the luxury condo towers along the water.

Median value of owner-occupied homes, selected Miami-Dade places (ACS 2020-2024)

Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates. These are owner estimates averaged over five years and run below today's sale prices. Use them to compare places, not to price a home.

In Key Biscayne, Pinecrest and Coral Gables, the ACS median value already sits above $832,750. A buyer paying those values crosses into jumbo territory unless the loan itself stays at or below the limit.

What does the September 2026 Miami-Dade market look like?

Miami-Dade existing-home market, September 2026

Source: MIAMI REALTORS + RWorld, September 2026 Miami-Dade statistics, released October 16, 2026.

The very top of the market is busy. MIAMI REALTORS reported 24 Miami-Dade home sales of $30 million or more through September 2026, beating the full-year 2025 record of 21. It also reported that 82% of Miami condo sales of $1 million and up were all-cash in 2025.

For a jumbo condo buyer, that last figure is the one to remember. A financed offer on a luxury unit usually competes with cash, so it needs a fully underwritten pre-approval and a plan for the building review before you write.

Which Miami areas see the most jumbo loans?

Where jumbo financing fits by area

Sunny Isles Beach, Bal Harbour, Coral Gables, Pinecrest, Key Biscayne and Miami Beach are separate municipalities, not part of the City of Miami. Each has its own millage rate, shown in the property tax section below. Buying on the beach side? Our Miami Beach mortgage broker page covers it.

What do Miami jumbo lenders look at?

Jumbo lenders build their rules in tiers. As the loan gets bigger, lenders usually want more equity, a higher credit score and more cash left over after closing. Exact figures change often and differ from lender to lender.

Typical published jumbo requirements, 2026 (varies by lender)

Ranges come from 2026 lender-published jumbo guides. They are examples, not an offer and not a commitment to lend. We confirm current guidelines for your file. More background is in our main jumbo loan guide.

How does debt-to-income work on a jumbo?

Debt-to-income is your total monthly debts, including the new housing payment, divided by gross monthly income. In Miami, the housing payment includes property tax, wind and flood insurance, and condo or HOA dues, so those bills move the ratio as much as the loan does.

The arithmetic is simple: multiply a ratio by your gross monthly income and you get the most total monthly debt that ratio allows. Each lender sets its own ceiling, so any ratio you see in a guide is an example, not a lender's limit and not an approval. To check the math on your own numbers, use our mortgage calculators, then call (702) 766-3744 to see how a lender would count your Miami taxes, insurance and dues. Our main jumbo loan guide covers debt-to-income in more depth.

What are reserves, and what counts?

Reserves are liquid funds left after your down payment and closing costs. Lenders measure them in months of your full housing payment: principal, interest, taxes, insurance and HOA dues.

• What usually counts: checking, savings, money market and brokerage accounts. Vested retirement accounts often count at a discounted value.
• What usually doesn't count: gift funds, HELOC or other borrowed money, and often business assets unless the lender accepts a CPA letter.
• What raises the requirement: larger loans, second-home or investment use, non-QM documentation and each other financed property you own.

In Miami, reserves rise with the payment. High insurance premiums, condo dues and special assessments all push the monthly figure up, which pushes the reserve dollars up too. Ask for your reserve requirement in dollars before you write an offer.

Will a Miami jumbo need two appraisals?

Often, on larger loans. Each lender sets its own loan-amount threshold. In waterfront and custom-home pockets, comparable sales can be thin. A low appraisal means more cash, a price renegotiation or a different lender, so build that risk into your contract timeline.

Which jumbo loan structure fits a Miami buyer?

Fixed-rate jumbo: the rate stays the same for the whole term. It suits buyers who plan to keep the home and the loan for a long time.

Adjustable-rate (ARM) jumbo: the rate is fixed for an initial period, then can move up or down within caps. Don't count on selling or refinancing before it adjusts (CFPB). Some lenders limit jumbo ARMs to lower loan-to-value or to primary and second homes.

Interest-only jumbo: payments cover interest only at first, then rise to repay principal. You build no equity through payments during the interest-only period (CFPB). In 2025, 315 Miami-Dade jumbo purchase loans used this structure.

Fixed, ARM and interest-only jumbo compared

Before you choose, we put the payment before and after any adjustment or interest-only period side by side on official Loan Estimates.

What if my tax returns don't show my real income?

Business owners, real estate investors and commissioned professionals often show less taxable income than they earn because of write-offs. A full-documentation jumbo leans on tax returns, so these buyers can come up short on paper. Other programs document ability to repay in a different way.

Ways to qualify for a Miami jumbo loan

These programs carry their own credit, equity and reserve rules, and pricing differs. When a file could fit more than one, we compare them side by side. Read more on bank statement loans, P&L loans, self-employed mortgages, non-QM loans, portfolio loans.

Why do Miami condo buildings decide so many jumbo approvals?

The Champlain Towers South collapse in Surfside on June 24, 2021 changed condo lending across Florida. State law now requires milestone structural inspections and structural integrity reserve studies (SIRS) for condo buildings three or more stories tall, and underwriters read those reports before approving a unit. Deferred structural work, an underfunded SIRS, special assessments for critical repairs or litigation can each make a building ineligible for Fannie Mae and Freddie Mac.

That matters on a jumbo because prime jumbo lenders usually want a project that meets agency standards. Fannie Mae treats a project as ineligible if it needs critical repairs, failed a mandatory structural inspection or has unfunded repairs over $10,000 per unit due within 12 months (Fannie Mae Selling Guide B4-2.1-03). Units in those buildings go to non-warrantable or portfolio lenders.

A non-warrantable building is still financeable in many cases. The practical rule: find a lender whose condo rules fit that specific building, and get the answer while your contract's review period is still open.

Florida condo safety timeline and what it means for a jumbo loan

Sources: Florida SB 4-D (2022); Fla. Stat. 553.899; Fla. Stat. 718.112; Florida HB 913 (2025); Fannie Mae Lender Letter LL-2026-03; Florida DBPR. Checked October 30, 2026.

When does a Miami condo building need a milestone inspection?

Under Fla. Stat. 553.899, condo and co-op buildings three or more habitable stories tall need a milestone inspection by December 31 of the year the building turns 30, then every 10 years. Where the local agency requires it, the first one comes at 25 years. Miami-Dade applies 25 years to coastal buildings within three miles of the coastline built in 1998 or later, and the county's own building recertification program still applies on top of the state law.

Why do Brickell and Sunny Isles towers fail agency rules more often?

Non-warrantable findings come up most often in towers in Brickell, Downtown, Edgewater, Sunny Isles Beach and Miami Beach. The usual causes are short-term rental activity, investor concentration and condo-hotel features. Investors financing a unit in these towers can also see Miami condo DSCR loans.

Common reasons a Miami condo building fails agency eligibility

Sources: Fannie Mae Selling Guide B4-2.1-03; Fannie Mae Lender Letter LL-2026-03.

What condo documents should a jumbo buyer request?

1. The lender's condo questionnaire, sent to the association or manager the day the contract is signed.
2. This year's association budget and reserve schedule.
3. The latest milestone inspection report, phase 1 and any phase 2, with the building department status.
4. The latest SIRS and the funding plan the board adopted.
5. Twelve months of board minutes, which often reveal planned assessments and disputes.
6. Every approved or proposed special assessment, with the per-unit amount and due dates.
7. Master insurance declarations covering property, wind, flood where required, liability and fidelity.
8. Any litigation disclosure from the association's attorney or manager.
9. Rental restrictions, including short-term rental rules.
10. An estoppel certificate showing your unit's dues and any unpaid balance.

A slow management company is one of the most common reasons a high-rise closing slips, so order everything early.

Found a unit and not sure the building will pass? Call or text (702) 766-3744 before your review period ends, or contact us to schedule a call.

How do insurance and flood rules change a Miami jumbo approval?

Lenders on Miami homes require hazard coverage that includes wind. If the home sits in a FEMA special flood hazard area and the loan is federally backed or regulated, flood coverage is required as well. The lender adds one-twelfth of each annual premium to the monthly payment it counts, along with taxes and dues, and that total drives both your debt-to-income ratio and your reserve requirement.

Citizens Property Insurance flood requirement, outside FEMA special flood hazard areas

Sources: Citizens Property Insurance Corporation; Florida Department of Financial Services. Checked October 30, 2026.

Is federal flood insurance enough on a jumbo home?

Often not. The National Flood Insurance Program caps residential building coverage at $250,000 per building. When a jumbo home's rebuild cost runs higher, buyers and lenders often look at private or excess flood coverage. Check the lender's requirement against your loan amount early.

Since October 1, 2025, Florida sellers of residential property must give buyers a flood disclosure at or before contract (Fla. Stat. 689.302). Read it before you sign, and look up the exact address on FEMA's Flood Map Service Center.

How can a jumbo buyer lower the insurance number?

1. Order a wind mitigation inspection. Florida insurers must offer discounts for qualifying features.
2. Check roof age early. Many insurers price or decline by roof age.
3. Get a four-point inspection on an older home.
4. Get an elevation certificate for flood pricing.
5. Quote through an independent agent and get it in writing before your inspection period ends.

What does it cost to close a Miami jumbo loan?

Florida taxes the deed, the note and the mortgage, and Miami-Dade's deed rate differs from the rest of the state.

• Deed stamps: $0.60 per $100 of price in Miami-Dade on a single-family home, condo or co-op unit. Other property, such as duplexes, multifamily and land, adds a $0.45 per $100 surtax. By custom the seller pays (Fla. Stat. 201.031).
• Note stamps: $0.35 per $100 of the loan, usually paid by the buyer.
• Intangible tax: 2 mills, or $2.00 per $1,000 of the loan, usually paid by the buyer (Fla. Stat. 199.133).

Florida loan taxes at jumbo loan amounts

Sources: Florida Department of Revenue, documentary stamp tax; Fla. Stat. 199.133. Smaller price points are on our Miami mortgage broker guide, and state comparisons are on closing costs by state.

How much is title insurance on a Miami jumbo purchase?

Florida sets title insurance base premiums by rule, so the base owner's premium is the same at every insurer (Fla. Admin. Code R. 69O-186.003). In Miami-Dade the buyer usually pays for the owner's policy by local custom, though it is negotiable.

Florida promulgated owner's title base premium at jumbo price points

Endorsements, the lender's simultaneous-issue policy and settlement fees come on top. Settlement and search fees are not set by rule, so compare them. Every lender and broker charge appears on your Loan Estimate, including broker compensation.

How do Miami property taxes affect a jumbo approval?

Lenders qualify you on the estimated tax for the specific address, not the seller's bill. On a jumbo-size price, a few mills of difference between municipalities can change the approval amount.

2025 adopted total millage, selected Miami-Dade jumbo areas

Source: Miami-Dade Property Appraiser, 2025 adopted millage rates; the full municipal list is on our Miami mortgage broker guide. Non-ad valorem assessments are billed on top. Checked October 30, 2026.

Will I pay the seller's property tax bill?

Usually not. After a sale, the assessed value resets to market value on the next January 1, and the seller's homestead exemption and Save Our Homes savings stay with the seller. On a home owned for many years, your bill can be far higher than the one in the listing.

• Homestead exemption: up to $25,000 off all taxes, plus roughly another $25,000, now inflation-adjusted, off non-school taxes. Apply with the Miami-Dade Property Appraiser by March 1.
• Save Our Homes cap: once homesteaded, assessed value can rise no more than 3% a year or the CPI change, whichever is lower.
• Portability: sell a Florida homestead and establish a new one within the allowed window, generally three years, and you can carry up to $500,000 of the Save Our Homes difference.
• Non-homestead cap: second homes and rentals get a 10% annual cap on assessment growth for non-school levies.

Sources: Florida Department of Revenue; Miami-Dade Property Appraiser.

Can a foreign national get a jumbo loan in Miami?

Yes, through foreign national programs, usually for investment property and, with some lenders, second homes. Instead of U.S. credit and tax returns, these programs lean on foreign credit references, verified assets, documented foreign income or, for rentals, the property's rent. Expect stricter equity and reserve rules than for a U.S. borrower, and plan to season funds in a U.S. account before closing.

MIAMI REALTORS reports that international buyers purchased 49% of South Florida new construction, pre-construction and condo conversion sales over an 18-month period ending July 2025.

Two rules to know:

• Florida foreign-principal law: Florida restricts certain purchases by people domiciled in China and other designated countries of concern, mainly near military installations and critical infrastructure. Every buyer signs an affidavit at closing (Fla. Stat. 692.201-692.205).
• FIRPTA when you sell later: the buyer generally withholds 15% of the amount realized from a foreign seller, with reduced or no withholding in some cases (IRS).

We are not tax or immigration advisers. Talk to a cross-border CPA and attorney about FIRPTA, estate tax and entity structure before you buy. Investors can also review foreign national DSCR loans, which are business-purpose loans only.

How do you choose a jumbo mortgage broker in Miami?

There is no official ranking of jumbo brokers. With 444 lenders closing purchase loans in Miami-Dade in 2025, loans exist. The real question is whether your broker can match your file and your building to the lender that fits.

A bank can only offer its own jumbo product. A broker can send the same file to many lenders, which matters more on jumbo loans because every jumbo lender writes its own rulebook. One lender may decline a Brickell tower that another approves.

How to compare Miami jumbo lenders and brokers (2026 checklist)

What are red flags in a Miami jumbo quote?

• A 2026 quote that uses $806,500, the 2025 limit, as the jumbo line.
• A price quoted before anyone has looked at your credit, income, assets and the building.
• No mention of reserves, a second appraisal or the condo milestone and SIRS reports on a large loan.
• An insurance or tax estimate copied from the seller's bill.
• Pressure to sign an intent to proceed before you have compared Loan Estimates.
• One program only, with every other option called “impossible.”

Where do jumbo files go wrong, and how do you fix them early?

Most jumbo problems are not about credit scores. They come from documentation and structure, and many of them can be addressed if they are caught before you are in escrow.

• Reserves fall short after closing. Buyers plan the down payment and closing costs, then forget the months of payments the lender wants left over.
• Large deposits can't be sourced. Transfers between your own accounts are easy to document. Cash deposits and business-to-personal transfers take longer.
• Self-employed income drops on paper. Write-offs that lower your tax bill also lower qualifying income. A bank-statement or asset-based jumbo may qualify the same borrower differently.
• The appraisal comes in below the contract price. Thin comparable sales in waterfront and custom-home pockets make this more likely.
• The condo building doesn't qualify. Investor concentration, litigation or underfunded reserves can sink a strong borrower.
• Insurance arrives late and high. A wind and flood quote received after the inspection period can break the debt-to-income math.
• An out-of-state home hasn't sold. Carrying two housing payments raises your debt-to-income ratio. Options include a bridge loan, a HELOC on the current home, or qualifying with both payments (varies by lender).

What has David learned from real jumbo files?

None of the files below are Miami loans. They are real jumbo files from David's desk. Most are Nevada or California files; one does not state a location. The same files appear on our main jumbo loan guide. Names are removed and figures are rounded. We share them because the same problems show up in Miami: lumpy self-employed income, credit committees, low appraisals and debt ratios that only work on the right documentation. Past results do not guarantee future outcomes.

“I have been a mortgage broker for more than 15 years. Every file has a moment where it could go either way.” — David Ghazaryan

Nevada: a content creator who grew into a jumbo

The stakes: In spring 2023, a self-employed social media content creator came to David to buy her first home. Her income was real, but it came in waves.

Where it almost fell apart: One older tax year showed low income. That single year capped her pre-approval near $400,000, well below the homes she was touring.

The turn: David didn't force it. She filed the next year's return first. The team recalculated two years of income and counted a car payment made through her business so underwriting would find no surprises. In spring 2024 she got the keys to a Las Vegas home near $600,000.

The payoff: Two years later her business had grown. In spring 2026 she bought a Las Vegas home near $2.7 million with a jumbo loan near $2 million. At that size the file went to a credit committee and through several approval revisions. The loan amount never moved, and it closed in about a month.

Nevada: an event promoter with lumpy income

The stakes: In summer 2025, a self-employed entertainment and event promoter wanted a luxury primary home in Las Vegas, priced near $3.25 million, with a jumbo purchase loan near $2.4 million.

Where it almost fell apart: Self-employed income does not arrive like a paycheck, and the chosen structure carried a far bigger payment than most buyers would pick. Every number had to hold.

The turn: The file was built around reserves and a clear income story. The appraisal came back a bit above the price, and the debt ratio landed near 30%.

The payoff: The purchase closed about ten weeks after application. A year later, in summer 2026, the client came back for a no-cash-out refinance near $2.35 million. The home appraised near $3.4 million, and the file went from submission to clear to close in about 12 days.

California: one borrower's income carried the file

The stakes: In early 2026, a couple was buying a brand-new home from a builder in California's Central Valley, priced near $2.5 million.

Where it almost fell apart: The builder would not set the final price until the house was nearly done. Then the income review showed the co-borrower's business was running at a loss, which could sink the debt ratio.

The turn: David built the file around the loan amount months ahead, then qualified the loan on one borrower's income alone. The debt ratio landed near 49%, inside the limit.

The payoff: About $2 million in jumbo financing, from submission to approval in about two and a half weeks.

Nevada: the appraisal came in short

The stakes: In 2025, a self-employed Las Vegas homeowner was refinancing about $1.1 million. The tax returns didn't show real cash flow, so the file used 12 months of bank statements.

Where it almost fell apart: The team expected a value near $2.2 million. The appraisal said about $1.85 million.

The turn: Because the loan started at low leverage, there was room to absorb the hit. The loan amount held right where it was.

The payoff: The loan funded in winter 2025. Not one dollar was cut.

A 90% debt ratio on paper

The stakes: In 2024, a family wanted a home that needed a loan near $775,000, a jumbo. The down payment was a gift from family.

Where it almost fell apart: Measured the full-doc way, the debt ratio came out near 90%. No full-doc lender approves that.

The turn: The team switched to business bank statements to show income and documented the family gift step by step.

The payoff: The loan closed in summer 2024.

Other jumbo work David has done

In summer 2025, iQRATE closed an owner-occupied Nevada jumbo purchase, application to funding in about nine weeks. A California jumbo purchase closed in 22 days.

“One of the most unusual clients I've worked with was a YouTube gamer buying a home in the Las Vegas valley for roughly $3 million. Twenty years ago, a buyer purchasing a house at that price was probably a physician, an executive, or a business owner with traditional financial statements. This buyer had built a career playing video games in front of an online audience. His team later came back to me about refinancing that primary residence. The challenge was making sure the lender understood the real financial picture rather than judging his ability to repay by his job title.” — David Ghazaryan

“He wasn't my only unconventional high-income client. I've also worked with a music producer and an Instagram influencer. A producer's revenue might arrive through royalties, licensing agreements, production fees, and business entities, and some of it can be irregular even when the business is well established. An influencer may receive advertising revenue, sponsorship payments, and other business income. A bank's standard tax-return calculation may not always provide the best qualification method. That doesn't mean we can count every dollar that enters the account. It means we need to understand which receipts are eligible income and find a lender whose documentation requirements fit the borrower. I started in the mortgage industry in 2005 and have worked in tax preparation since 2008, and that combination matters on files like these.” — David Ghazaryan

When another lender has already said no, David starts with the reason:

“I don't begin by assuming the first lender made a mistake. I find out exactly why it couldn't approve the transaction: income calculation, insufficient reserves, restricted stock, a debt-to-income limit, or a property that didn't meet appraisal requirements. Those are very different problems. Then I decide whether the issue can be corrected with documentation or whether the borrower genuinely needs a different program. A successful strategy starts with the financial facts, not with submitting the same file to another bank.” — David Ghazaryan

Florida experience: in Q4 2024, a self-employed client closed a roughly $625k Florida second home on 12 months of bank statements. At that price the home was below the jumbo line, so we don't present it as a jumbo. It shows the bank-statement approach we use for Florida business owners.

Have a file another lender turned down? Call or text David at (702) 766-3744, apply now or contact us to schedule a call.

What are the steps to a Miami jumbo loan?

1. Strategy call: we review your price range, income type, assets and target buildings or neighborhoods, and check whether borrowing less could keep you conforming.
2. Pre-approval with documents reviewed: credit, income and assets are reviewed up front, so your offer can stand next to cash buyers.
3. Building and insurance check: for condos, we check warrantability and request the questionnaire. For houses, we get wind and flood quotes.
4. Lender comparison: we compare full-doc, bank-statement, asset-based, interest-only and condo-specific jumbo options and walk you through the Loan Estimates.
5. Contract and appraisal: the appraisal is ordered right away. Luxury homes with few comparable sales, or loans that need a second appraisal, take the most time.
6. Underwriting and conditions: the underwriter reviews income, reserves, the condo project, insurance and title.
7. Closing Disclosure and closing: you review final terms, then sign with the title agent or attorney. The deed and mortgage are recorded with the Miami-Dade Clerk.

Federal timing rules on a Miami jumbo purchase

Second appraisals, condo project reviews, credit committees and non-QM documentation can add time. We build the timeline around your file from the first call.

What documents does a Miami jumbo loan need?

Documents usually requested for a Miami jumbo loan

Requirements vary by lender and program. If you are relocating, also gather a signed sale contract or listing agreement on your current home.

What do clients say about iQRATE?

These are real reviews, quoted word for word. They describe our company overall. They are not Miami reviews and not about a specific jumbo loan.

Our ratings: Google 5.0 from 77 reviews. Yelp 5.0 from 51 reviews. Zillow 5.00 from 9 reviews. Experience.com 5.0 stars from 87 reviews (October 2026).

“iQrate Mortgage and all of their staff work very hard to make sure every single person that walks into their office leaves with ALL their questions answered. I just completed my refinance with iQRate Mortgage and I am extremely happy of the turnaround. They are fast, honest, and fair. I highly recommend everyone to their office, you will not regret it.”

— Marine G. (South Shores, Las Vegas, NV), 5-star review on Yelp

“Outstanding service with the help from this team! Everything was smooth, effortless, and headache free! They answered all my questions with ease & I will recommend friends and family as well! I most definitely will continue using this company for future mortgage needs!”

— Ryan L., 5-star review on Google

“A few months ago we bought our first house. We were so fortunate to have David. He explained so many things that we did not understand, literally took the time to explain our options and why they would or would not work for us. He made us feel comfortable with our decision. We definitely would recommend his entire team, everyone was so wonderful and helpful.”

— Jael O., 5-star review on Google

“Great professional work! Because of exceptional coordination from Andrei and the team, our escrow was closed seamlessly several days earlier. All our questions and concerns were addressed promptly. My husband and I would highly recommend this team to whoever is looking for a new mortgage or refinancing.”

— Oksana K., 5-star review on Google

“David's experience in the greater Las Vegas area has been a tremendous help in every aspect of buying my home. His work is quick, efficient, and reliable.”

— eddieyervinyan, 5-star review on Zillow

“David was very professional and went above and beyond to make sure I understand the loan procedure. In addition, he went with me to my closing because I expressed that I would be more comfortable with him there to explain the documents to me. He was there and ensured a smooth transaction. Everything completed as expected. I would definitely recommend him to my friends and family.”

— Jasmin, 5-star review on Zillow

Both are public reviews on iQRATE's Zillow profile; neither is confirmed to be a jumbo loan.

Read our Google reviews · Read our Zillow reviews · All client reviews · Questions? Call or text (702) 766-3744.

Miami jumbo loan FAQs

What is the jumbo loan limit in Miami for 2026?

For a one-unit home in Miami-Dade County, the line is $832,750, per FHFA. Two- to four-unit homes use $1,066,250, $1,288,800 and $1,601,750. Borrow more than the limit for your unit count and the loan is a jumbo.

Is Miami-Dade a high-cost area with a higher conforming limit?

No. In 2026, Miami-Dade, Broward and Palm Beach all sit at the $832,750 national baseline. The $1,249,125 high-cost ceiling is not used in South Florida, so a high-balance conforming loan is not an option here.

How common are jumbo loans in Miami-Dade?

About one purchase loan in eight. In iQRATE's analysis of 2025 HMDA data, 2,068 of 17,259 originated first-lien purchase loans in the county were jumbo. Their median was $1,285,000, and 226 of them were $3 million or more.

What credit score do I need for a Miami jumbo loan?

Published 2026 jumbo guides commonly start somewhere around 700 to 740 or higher. Bigger loans and thinner equity usually push the minimum up. Each lender sets its own number.

How many months of reserves do Miami jumbo lenders want?

Published guides run from about 3 to 24 months of the full housing payment, rising with loan size. Because Miami insurance, condo dues and assessments inflate that payment, they inflate the reserve dollars as well.

Can I get a jumbo loan if I'm self-employed?

Yes. Some lenders qualify jumbo borrowers on 12 or 24 months of bank statements, a CPA-prepared profit-and-loss statement, or eligible assets in place of tax returns. Each of these programs has its own credit and reserve rules.

Can I get a jumbo loan on a non-warrantable Miami condo?

Often. Portfolio and non-warrantable condo lenders finance many towers that Fannie Mae and Freddie Mac turn down, usually with stricter equity and reserve rules. Have the building checked before you are under contract.

How do Florida's condo safety laws affect my jumbo approval?

Underwriters read the building's milestone inspection, structural integrity reserve study, budget and assessment history. Critical unfunded repairs or a thin budget can push the unit out of prime jumbo and into non-warrantable financing.

What does Fannie Mae LL-2026-03 change for Miami condo buyers?

Two things. Applications dated August 3, 2026 or later can no longer use Limited Review, so more condo files get a full project review. And starting January 4, 2027, a Full Review building must budget at least 15% of its budget to reserves, up from 10%.

Are adjustable-rate and interest-only jumbo loans common in Miami?

Yes. In 2025, 37.8% of Miami-Dade jumbo purchase loans carried an adjustable or introductory rate and 15.2% were interest-only. For the purchase market as a whole, the figures were 9.1% and 5.0%.

Will a Miami jumbo loan need two appraisals?

Larger loans often do, at a loan-amount threshold each lender sets. Waterfront and custom homes with few comparable sales can also slow the appraisal, so leave room in the contract timeline.

Does a jumbo buyer need flood insurance in Miami?

It's required on a federally backed or regulated loan when the home is in a FEMA special flood hazard area. Outside those zones, Citizens policyholders face a phased requirement that covers all Citizens personal residential policies from January 1, 2027. NFIP building coverage stops at $250,000, so jumbo homes often add private or excess flood.

What are the Florida taxes on a jumbo mortgage?

The buyer usually pays note stamps of $0.35 per $100 of the loan and intangible tax of 2 mills. On a $1,200,000 loan that comes to $4,200 plus $2,400, or $6,600. The seller customarily pays Miami-Dade deed stamps of $0.60 per $100.

Who pays for owner's title insurance in Miami-Dade?

Local custom puts it on the buyer, unlike much of Florida, though the contract can change that. The base premium is fixed by state rule: $5,075 on $1,000,000 of coverage and $7,575 on $2,000,000.

Will my property tax match the seller's bill?

Usually not. The assessed value resets after a sale, and the seller's homestead savings don't transfer. Lenders estimate your tax from your price and the address's millage. Among the jumbo areas in the table above, 2025 millage runs from 15.5108 in Key Biscayne to 20.3778 in the Miami Downtown Development Authority area.

Can a foreign national get a jumbo mortgage in Miami?

Yes, through foreign national programs, most often for investment property and, at some lenders, second homes. Plan on foreign credit references, verified assets, funds moved to a U.S. account, and the Florida foreign-principal affidavit at closing.

Can veterans buy above $832,750 with a VA loan in Miami?

Veterans with full VA entitlement have no VA loan limit, though individual lenders may set their own maximums. If the home is a condo, the condo project must be VA approved. Compare a VA option with a conventional jumbo; see VA loans.

How long does a Miami jumbo loan take to close?

It depends on the lender, the appraisal, the condo review and your documents. Federal rules require a Loan Estimate within 3 business days of application and a Closing Disclosure at least 3 business days before closing. In David's files (Nevada files, not Miami loans), a clean jumbo refinance cleared in about 12 days, while large purchases with committee reviews took about a month or longer.

Can iQRATE arrange Miami jumbo loans?

Yes. iQRATE Mortgages (NMLS 1862492) is a mortgage broker licensed in Florida, Nevada, California and Texas, and David Ghazaryan holds NMLS 1486726. As a broker, iQRATE arranges jumbo financing through wholesale lenders; it is not the lender and does not make credit decisions. You can verify both licenses on NMLS Consumer Access before you share documents.

How do I choose the best jumbo broker in Miami?

Start with the Florida license on NMLS Consumer Access. Then ask how many jumbo lenders and program types will see your file, including non-warrantable condo and foreign national lenders. Make sure the broker uses $832,750, reads the building's milestone and SIRS reports early, and hands you Loan Estimates you can compare line by line.

Still have a question about your Miami jumbo? Call or text (702) 766-3744 or contact us to schedule a call.

More Miami and jumbo guides

• Miami mortgage broker guide: every Miami loan program, closing costs, insurance and the full property tax table.
• Florida mortgage broker: statewide coverage.
• Main jumbo loan guide: how jumbo loans work, reserves, ARMs, interest-only and documentation.
• Mortgage calculators: simple tools to check loan size and debt-to-income before you talk to a lender.
• FHFA conforming loan limit data: the official county limits.

Shopping for a Miami home above $832,750? Call or text David Ghazaryan (NMLS 1486726) at (702) 766-3744. Tell him the price range, the building or neighborhood and how you earn your income. He will tell you which documents to gather and which lenders fit your file. When you are ready, apply now or contact us to set a time to talk.

Information on this page is general information, not legal, tax or insurance advice, and not a loan offer. Dollar figures are public data, statutory rates and arithmetic, not a quote of rates, payments or terms. No interest rate or APR is shown because pricing depends on the market, fees and your full application. Programs, credit, reserve and documentation requirements vary by lender and change often. Not all borrowers will qualify. All loans are subject to credit, property and underwriting approval. This is not a commitment to lend. Client stories are real files with names removed and figures rounded; they are not Miami loans, and past results do not guarantee future outcomes. Reviews describe iQRATE overall, not a specific loan or city. Investor loans are for business purposes only. iQRATE Mortgages is a mortgage broker, not a lender, and does not make credit decisions; broker compensation is disclosed on your Loan Estimate.

Written by David Ghazaryan, Mortgage Broker, NMLS 1486726. iQRATE Mortgages LLC, NMLS 1862492, 6360 S Rainbow Blvd Ste 101, Las Vegas, NV 89118. Licensed in Nevada, California, Texas and Florida. (702) 766-3744. Verify licensing at nmlsconsumeraccess.org. Equal Housing Opportunity. Updated November 9, 2026.