Jumbo Loans

If you would like to purchase property in Miami-Dade county which surpasses Fannie Mae and Freddie Mac’s conforming loan limits, you will need to apply for a jumbo loan. As of 2018, the loan limit is $453,100.

What Are the Jumbo Loan Requirements for Miami?

Because jumbo loans are larger and riskier for lenders, the requirements to qualify for them tend to be more stringent.

Your credit score should be 660 or higher.

It is possible to get approved for a Miami jumbo loan with a slightly lower score, but you will get the best offers with a higher score.

You should be prepared to make a down payment of anywhere from 10-20%.

Closing costs for jumbo loans are typically higher than they are for conventional loans as well.

If possible, try to apply with a debt-to-income ratio which is 45% or lower.

Own considerable assets? This requirement may not apply to you.

You need reserves to apply for a jumbo loan.

At a minimum, most lenders look for at least 6 months of reserve cash.

Miami Jumbo Loan Rates

Many borrowers may be concerned that jumbo mortgage rates in Miami will be excessive compared to conventional loan rates.

This is a common misconception about jumbo loans. There certainly are lenders out there that charge very high interest rates for jumbo loans, but at Lending Bankers Mortgage our Jumbo rates are comparable to what you would find for conventional loans.

One benefit of applying for a jumbo loan is that chances are good that you will not have to purchase private mortgage insurance (PMI). PMI is usually only required when you are making a lower down payment.

Apply for a Jumbo Loan in Miami With Lending Bankers Mortgage LLC

When you are applying for a Miami jumbo loan, you will need to be prepared for a lengthier application process. The stricter requirements may necessitate more documentation. For this reason, applying for a jumbo loan on your own can be a challenge.

Thankfully, you are not on your own. Lending Bankers Mortgage is here to help. As your Miami jumbo loan partners, we can connect you with competitive mortgage offers from more than 130 area banks and lenders. We also can help speed up the application process and make sure that you provide exactly the documentation you need to get a jumbo loan with affordable rates and terms. Call (786) 220-1100 to get started now.

Jimmy Hurtado
Jimmy Hurtado
18:35 20 Jul 20
I am highly satisfied with the great help of Lending Bankers Mortgage, specially thank you Claudia for assisted us during all the process until to the approval. Definitely It was an amazing experience. I recommend it!read more
Monica Soto
Monica Soto
18:29 20 Jul 20
Awesome experience! Lending Bankers Mortgage helped me during all process for my mortgage. They got for us an excellent loan rate and the approval was ready in 20 days! Claudia is very professional and she was our great advisor. Thank you for to do our dream a reality today! We are extremely happy and proud to have our first home in U.Sread more
Juan Luna
Juan Luna
23:10 19 Jun 20
Excellent service, they helped and assisted us during the entire process. Our dream is a reality now, we are happy homeowners. We got an excellent loan rate and the process went fast and smooth. Claudia is a great professional and very knowledgeable. 100% satisfied. Definitely recommend it.read more
Selim Akdogan
Selim Akdogan
07:55 18 Jun 20
They worked very professionally and I was very satisfied with their service. Even during this pandemic and us beeing in another country, they were always very available and things went very smoothly. We got the mortgage loan and closed from far during the pandemic.I can definitely recommend this team.read more
Miguel Otaola
Miguel Otaola
19:09 14 Jun 20
I needed to refinance my mortgage as my balloon payment was expiring. Claudia offered me several options based on my financial and personal situation. She guided me step by step until we got it done. I was able to obtain a great rate and a very affordable payment. Very professional, knowledgeable and excellent service.read more
Lucy
Lucy
19:55 18 May 20
Just amazing people, professionals, honest, trustworthy. I would recommend to friends and family. Extremely happy with the service and the outcome. Mr. David it’s an amazing professional and an even better human being. If I could give 10 Stars I would!!!read more
Lucy
Lucy
11:42 16 May 20
Just amazing people, professionals, honest, trustworthy they go to work and they get it done, I can testify to that. I would recommend to friends and family. Extremely happy with the service and the outcome. Mr. David it’s an amazing professional and an even better human being. If I could give 10 Stars I would!!!read more
Ana Salermo
Ana Salermo
22:57 28 Apr 20
As a real estate agent working closely with a good mortgage broker is key for the success of my business. The team at Lending Bankers is highly knowledgeable and they are always able to find a mortgage that fits my client's needs. More important they take the time to educate me and my clients in all aspects related to the mortgage. If you are a realtor looking for a great lender in the Miami / Fort Lauderdale area this is your team. Even during these difficult times they are giving solutions and closing loans.read more
Eugene Pabon
Eugene Pabon
20:07 12 Mar 20
Claudia was able to get me a private loan on my short-term rental when the banks would not touch the financially sound property. She was a great help!
OV Properties
OV Properties
20:12 04 Nov 19
We had the best experience working with Lending Bankers Mortgage and received the best attention possible from Mr. David. He handled everything smooth and helped us on a hard to get loan. We couldn't be more satisfied by the ability and help from the team.read more
OV Properties
OV Properties
20:12 04 Nov 19
We had the best experience working with Lending Bankers Mortgage and received the best attention possible from Mr. David. He handled everything smooth and helped us on a hard to get loan. We couldn't be more satisfied by the ability and help from the team.read more
Ernesto Osuna
Ernesto Osuna
23:47 22 Oct 19
I am very grateful and satisfied for all the work done by Kelly and Gustavo in approving the loan for my home. Excellent attention, very quick answers and always attentive to clarify your doubts
Clara Sellier
Clara Sellier
18:06 06 Oct 19
My clients experience could not have been better. David and his team far exceeded our expectations. They locked in at the lowest rate possible and when rates dropped again, they repeated the whole process and found my clients an even lower rate. The buying process for Foreign National, Investors , Debt Consolidation and financial solutions is exceptional, easy and the team is simply the best! Lendingbankers is a leader in facilitating options to help reach your financing goals.read more
harel bitton
harel bitton
20:09 11 Sep 19
Exceptional service !! Super reliable ,fast , honest brokers I ever dealt with over my 10 years as an agent . Literally this guys Finance EVERYTHING!
soraya McCollum
soraya McCollum
19:43 11 Sep 19
It was a great experience working with Lending Bankers . Mr David was great through all the process always available , very committed to provide us what we needed. Very high recommended!!
Lizzy Spaccarotella
Lizzy Spaccarotella
22:12 13 Aug 19
I had the best experience working with Claudia Castano, she was the loan officer and our office acted as the closing agent on a transaction. We really work as a team, she made the process easy and we closed the transaction on time as she promised. The buyer was super happy. We look forward to work with Claudia again!read more
Erika Spaccarotella
Erika Spaccarotella
23:34 12 Aug 19
I finally got my dream home thanks to Claudia Castano from Lending Bankers. I thought I’ll never get a loan but she helped me with the all process, THANK YOU CLAUDIA for all ur help! You are the best!read more
Merlin Friesen
Merlin Friesen
01:44 26 May 19
We had a great experience working with Gustavo and Lending Bankers. They provided a good no pressure approach and were very focused on providing what we wanted.Highly recommended !
Avisha Kassir
Avisha Kassir
15:41 04 Apr 19
Alex helped me purchase my first investment multifamily in Miami and very thankful for the awesome service I received! Super easy to work with, efficient and helped every step of the way and even came to closing which was awesome!! Highly recommend Alex! Can't wait to purchase my next 2 unit!!read more
Fiorella Mazzei
Fiorella Mazzei
16:37 16 Mar 19
Mr David of Lending Bankers Mortgage helped me to get a loan. He was such a professional advisor, always available to answer my questions and always clear and patient. I am not an US citizen and I was worry about the loan, but thanks to him and his staff everything was fine. Thank you Lending Bankers!read more
Fiorella Mazzei
Fiorella Mazzei
16:37 16 Mar 19
Mr David of Lending Bankers Mortgage helped me to get a loan. He was such a professional advisor, always available to answer my questions and always clear and patient. I am not an US citizen and I was worry about the loan, but thanks to him and his staff everything was fine. Thank you Lending Bankers!read more
sanja
sanja
18:35 21 Feb 19
I dont have words to discribe our amazing experience with Gustavo, that is part of this company. So professional, so responsive, so full with knowledge and always there when we needed. I can not be thankful enough to Gustavo for everything he did and for the smoothest closing ever. Thank you Gustavo for everything. You are the best read more
Aldo Enderica
Aldo Enderica
15:47 04 Jan 19
Amazing team! Had a great experience working with them on a hard to place loan. They never let their foot off the pedal and kept going until the end and as a result had an extremely smooth closing.
Christian Stanbury
Christian Stanbury
20:48 11 Oct 18
Alexander helped me purchase my first home. He worked with me every step of the way, and he even drove 70 miles north to my closing 6 hours before Hurricane Matthew hit South Florida. Can’t thank him enough for being such a great Loan Officer person and individual.read more
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