The Best Mortgage Lenders in Miami, FL
Compare verified mortgage lenders serving Miami, Florida. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Miami
Featured Mortgage Lenders
Lennar Mortgage
Lennar Mortgage LLC
Lennar Mortgage stands out as one of Miami's premier mortgage lenders with deep local roots and extensive experience serving South Florida homebuyers. As part of the nation's leading homebuilder, they offer specialized construction-to-permanent loans and have exceptional expertise in new construction financing. Their local underwriting team ensures quick decisions and personalized service, with competitive rates particularly for Florida residents. The company maintains a 4.8-star rating across multiple review platforms, with customers consistently praising their streamlined process, knowledgeable loan officers, and ability to handle complex transactions efficiently.
Loan Types:
City First Mortgage Services
City First Mortgage Services of Florida
City First Mortgage Services has built an outstanding reputation throughout Miami-Dade County as a top-rated local mortgage broker with exceptional customer service. With a remarkable 4.9-star rating from hundreds of verified reviews, they're known for their personalized approach and deep knowledge of Miami's diverse real estate markets. Their bilingual team serves both English and Spanish-speaking clients, offering comprehensive loan options including specialized programs for first-time homebuyers. Customers consistently highlight their responsiveness, transparency throughout the process, and ability to secure competitive rates even for challenging financial situations.
Loan Types:
Power Financial Credit Union
Power Financial Credit Union
Power Financial Credit Union has been serving South Florida communities for over seven decades, with their mortgage division becoming one of the most trusted lenders in the Miami metropolitan area. As a member-owned financial cooperative, they offer exceptionally competitive rates and lower fees than many traditional banks. Their mortgage team specializes in South Florida real estate transactions and offers unique first-time homebuyer programs with down payment assistance. With hundreds of 5-star reviews, customers praise their local decision-making authority, educational approach to the homebuying process, and commitment to finding the right mortgage solution for each borrower's specific needs.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Miami, FL
What are the current mortgage rates like in Miami, FL compared to the national average?
Miami mortgage rates are typically very close to the national average, but can be slightly influenced by the high-value coastal property market and Florida's property insurance costs. It's always wise to compare rates from local Miami lenders who are familiar with these regional factors, as they may offer more competitive terms than national banks for the local market.
Are there any special mortgage programs for first-time homebuyers in Miami?
Yes, the Miami-Dade County Surtax Affordable Housing Program offers down payment and closing cost assistance to eligible first-time homebuyers. Additionally, the Florida HFA offers popular programs like the Florida First and Florida HLP, which provide competitive, fixed-rate mortgages and down payment assistance specifically for Florida residents purchasing in counties like Miami-Dade.
How does the high cost of homeowners insurance in Florida impact my mortgage in Miami?
Due to Miami's high risk for hurricanes and flooding, lenders will require you to carry both homeowners and flood insurance, which can be significantly more expensive than in other parts of the country. This higher insurance premium is escrowed into your monthly mortgage payment, so you must factor this substantial cost into your overall housing budget when determining what you can afford.
What should I know about condo financing in Miami, given the new regulations after the Surfside collapse?
Following the Surfside tragedy, Florida's Senate Bill 4-D has imposed strict structural and reserve fund requirements on condominiums. Lenders are now scrutinizing condo association health more than ever. For a mortgage, you may find that older buildings require special engineering studies, and lenders might have stricter requirements for owner-occupancy ratios and reserve funding before they will approve a loan.
Are there property tax considerations in Miami that affect my mortgage?
Yes, Florida's Homestead Exemption is a key benefit for Miami homebuyers who make the property their primary residence. It can significantly reduce your taxable property value, thereby lowering your annual property tax bill, which is included in your monthly mortgage escrow payment. It's crucial to apply for this exemption after purchasing to secure these savings.
Nearby Cities
Explore mortgage lenders in cities near Miami, FL
Why Choose a Mortgage Lender in Miami?
Local Market Knowledge
Lenders who understand Miami's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Florida.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Miami and get competitive rates on your home loan.