Today's Mortgage Rates
Compare current rates for Miami home buyers — contact Joe for a personalized quote from trusted local lenders.
30-Year Fixed
The most popular loan type. Lower monthly payments spread over 30 years. Best for buyers who plan to stay long-term.
15-Year Fixed
Pay off your home in half the time and save significantly on interest. Higher monthly payments but substantial long-term savings.
5/1 ARM
Fixed rate for 5 years, then adjusts annually. Good if you plan to sell or refinance within 5 years.
FHA Loan
Government-backed loan requiring as little as 3.5% down. Great for first-time buyers with lower credit scores.
VA Loan
Exclusive to eligible veterans and active-duty military. No down payment required, no PMI, competitive rates.
Jumbo Loan
For loan amounts above $766,550 (Miami-Dade conforming limit). Common for luxury Miami properties.
Rates shown are representative national averages for illustrative purposes and may not reflect your actual rate. Your rate will depend on your credit score, loan amount, down payment, and lender. Contact Joe for a referral to trusted Miami lenders who can provide a personalized quote.
Estimate Your Monthly Payment
Adjust the inputs below to see how different loan types and down payments affect your monthly costs.
Which Loan Is Right for You?
Every buyer's situation is different. Here's a quick guide to help you understand your options.
First-Time Buyer
Lower down payment requirements (3.5% for FHA) and predictable monthly payments make these ideal for buyers entering the market for the first time.
Buying a Luxury Miami Home
Most Miami luxury properties exceed the $766,550 conforming loan limit. A jumbo loan covers the full purchase price with competitive rates for well-qualified buyers.
Veteran or Active Military
No down payment, no PMI, and some of the lowest rates available. If you qualify, a VA loan is almost always the best financial choice.
Planning to Sell Within 5 Years
If you know you'll move or refinance before the adjustable period kicks in, an ARM gives you a lower rate and lower payments during your ownership window.
Want to Build Equity Fast
Higher monthly payments but you'll pay off your home in half the time and save tens of thousands in interest over the life of the loan.
Buying an Investment Property
Conventional loans offer the most flexibility for investment properties. Expect to put 20–25% down and plan for slightly higher rates than a primary residence.
Get a Personalized Rate Quote
Joe works with trusted Miami lenders who can lock in your rate and get you pre-approved fast. Reach out today to get started.