Miami-Dade County
Coral Gables Mortgage Loan Officer
Coral Gables draws buyers who want character and new construction alike. In my conversations with buyers here, cost and availability usually come first.
Last updated October 10, 2026
What Coral Gables buyers want to know
Property taxes are a top concern, along with finding something at their price point, since prices here run higher. Buyers also ask about multifamily options and whether they can get help covering the upfront cash, which I cover on my first-time buyer page.
Homes common in Coral Gables
You'll find many Mediterranean-style homes and historic homes that have been standing a long time. Because they're older, the condition of the home becomes a big question for buyers. There are also townhomes and a lot of new construction, including some new condo communities.
That range means two buyers with the same budget can end up with very different loans: one financing a decades-old house where the inspection report drives the conversation, another buying into a new building where the project review comes first.
Market snapshot: Coral Gables
MIAMI REALTORS data for Q2 2026 shows 122 single-family closed sales in Coral Gables, up 14.0%, at a median of $2,635,000, up 12.1%. Townhouses and condos had 67 closed sales, up 6.3%, with a median of $590,000, down 11.9%.
That single-family median sits far above the 2026 conforming limit of $832,750 reported by the FHFA, so many single-family buyers here look at jumbo financing.
Local rules: new condo projects
In March 2026, Fannie Mae retired its separate PERS review for new or newly converted Florida condo projects. Those projects are now reviewed under a lender Full Review, and presale requirements still apply.
Property taxes: the 2026 ballot amendment
This is informational, not tax advice. A proposed constitutional amendment, Amendment 3 (CS/HJR 1F), is on the November 3, 2026 ballot and needs 60% approval. If approved, it would raise the homestead exemption from about $50,000 to $150,000 in 2027 and $250,000 in 2028, and people who establish Florida residency after 2026 would face a waiting period. Current law stays in effect unless it passes. Check your county property appraiser's FAQ; the Property Appraisers' Association of Florida FAQ is a good starting point.
Market data as of Q2 2026. Statistics are historical, from third-party sources, and not a forecast.
Loan programs for Coral Gables buyers
Related guides
Coral Gables mortgage FAQs
Do most Coral Gables single-family purchases need a jumbo loan?
Many do. The Q2 2026 single-family median of $2,635,000 was far above the $832,750 conforming limit, so jumbo financing is common for those buyers.
Should I worry about the condition of an older Coral Gables home?
Condition matters most with older homes, which is why the inspection report drives the conversation. The home also has to appraise and meet the property standards of the loan program.
How are new Coral Gables condo projects reviewed now?
Since March 2026, Fannie Mae reviews new or newly converted Florida condo projects under lender Full Review instead of a separate PERS review. Presale requirements still apply, so a brand-new community may need a certain level of sales before some loans are available.
Will Amendment 3 lower my property taxes?
Only if voters approve it with 60% on November 3, 2026. Until then current law applies. Check your county property appraiser's FAQ for details.
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Equal Housing Lender. This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, and property eligibility. Program availability, terms, and guidelines may change without notice. Information is for educational purposes only.