Miami Beach Mortgage Loan Officer

Questions I hear on Miami Beach

The big one is whether a condo qualifies. After that, buyers ask about interest rates, and about down payment assistance, which only works if the building allows it. Statewide help with upfront costs may be available; see the first-time buyer page for current status.

High-rise or smaller building?

Most of what you'll find is condos, from large high-rises to smaller condominium buildings. Some areas have single-family homes, and very few homes are on the water.

Whatever the size of the building, I start the same way: any of these buildings needs a condo questionnaire before it can be financed. In a large tower the answers come from a big association with many units, while a small building can have fewer owners carrying the same responsibilities, so the questionnaire deserves a close read in both cases. Either way, the building has to qualify before your own credit and income can carry the loan across the finish line.

Before you make an offer

The master insurance has to cover rebuilding the building. Florida requires milestone inspections for condo buildings at 30 years, or 25 years within three miles of the coast where the local enforcement agency requires it. Miami-Dade has also run a 40-year recertification program since 1976, and a completed 40-year recertification counts as the milestone inspection. Ask the association where the building stands. Check each building's flood zone: flood insurance is required in a high-risk flood zone (a FEMA special flood hazard area), so budget for that premium alongside the master insurance. Getting those answers early keeps your timeline on track. If something in the building's file raises a question, it is better to learn it during your inspection period than after you've packed boxes.

Market snapshot: Miami Beach

According to second-quarter 2026 data from MIAMI REALTORS, Miami Beach condos and townhouses had 467 closed sales, up 13.1%, with a median of $521,688, up 4.3%. Single-family homes had 83 closed sales, up 23.9%, with a median of $5,275,000, up 75.8%. With so few single-family sales, that median can swing sharply from one quarter to the next.