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.

Pablo R.
Pablo R.
20:52 18 May 22
Excelente experiencia de trabajo junto a al equipo de Lending Bankers. Nos guiaron de la mejor formar durante todo el proceso. Siempre estuvieron pendientes de los tiempos, de los documentos, revisan... todo y te alertan a tiempo de posibles necesidades y al final se cerro el proceso tal cual como nos indicaron desde el principio, sin sorpresas. La próxima vez pienso trabajar con ellos con toda seguridadread more
IVO C.
IVO C.
02:21 18 May 22
I had a great experience working with Danny Perez. He was always on top of all details. An excellent person. I highly recommend him!!!
Luis V.
Luis V.
19:24 16 May 22
Excelente servicio y compañamiento, con personal muy calificado, muy recomendado!
Muy complacido con el trato tan profesional de Danny Perez, hizo que mi proceso en la adquisición de mi nueva propiedad fuese muy fluido. Estuvo pendiente en todo momento, haciendo el seguimiento... adecuado para la ejecución en los tiempos acordados. Muy responsable y comprometido. Recomendado 100%.read more
Elias M.
Elias M.
15:52 13 May 22
Claudia and Ana were a pleasure to work with and I would highly recommend them to anyone going through this process. Hopefully I get to work with them again in the near future.
Tamir V.
Tamir V.
08:30 13 May 22
I have started working with Claudia and her team, Maria and Ana and all I can say is pure professionalism from the entire team. I am a real estate investor in Australia, and with that comes a big... complication to buy real estate and obtain a mortgage loan in the states not being a US citizen. I have started working with Claudia in March and I have just closed on the property with one of the best loan terms available in the States. Claudia has been super supportive and understanding of my complex Income streams and Investment portfolio and managed to secure it for me with Maria & Ana’s support. I will certainly use their services again with my new purchase and refer anyone interested in a US mortgage to them without a doubt in mind they will do the same over and over again!read more
Peter G.
Peter G.
23:36 05 May 22
I have dealt with Claudia Castano for several transactions in the past year. She is incredibly knowledgeable regarding the Miami real estate market -- both from the purchase/sale side and the lending... side. She has given me valuable advice on my investment projects (encouraging me on some and telling to avoid others). She responds quickly to all of my texts and phone calls. And, importantly, she is well liked by the realtors and title companies she has to deal with on my behalf. She is down to earth and friendly. I highly recommend her.read more
Stefano De A.
Stefano De A.
15:15 04 May 22
Mi experiencia con Gustavo y Larry en Lending Bankers ha sido realmente excepcional, absolutamente todo el proceso, atención y dedicación en todo momento fue excelente. El cuidado de los detalles,... los tiempos de entrega y atención, todo realmente maravilloso, con un servicio muy profesional y adecuado en cada uno de las etapas del proceso, con un resultado satisfactorio y exitoso. Muy contento con ellos los recomiendo totalmente.read more
Kathiuska R.
Kathiuska R.
21:58 29 Apr 22
Excellent work! From start to finish, my client Johnny was pleased with the service and attention that Lending Bankers provided. Thanks to Larry for his ethics and professionalism!Excelente ... trabajo! Desde principio hasta final, mi cliente Johnny quedó complacido con el servicio y atención que ofreció Lending Bankers. Gracias a Larry por su ética y profesionalismo!read more
Katie R.
Katie R.
17:24 18 Apr 22
We closed our 2nd commercial loan with Claudia. Just as the first time, the process was clear and smooth. She was able to guide us and structure the loan so we could get there very best terms,... making our investment even more attractive with a great interest rate. We worked together side by side gathering all documents and following ok ever step of the process. Definitely recommend her! Thank you Claudia.read more
Issys G.
Issys G.
15:09 18 Apr 22
Gracias por su buen servicio y atención, fue un placer trabajar con uds especialmente Nathy Velázquez. Me ayudo mucho con el procesó y fue muy amable.
Sanjay K
Sanjay K
00:37 09 Apr 22
I inquired about a loan with Katherine and she went above and beyond to assist me with my needs. My situation was urgent - and my employment history was minimum- so they were not able to work out a... loan which I understand.. Katherine still kept me informed about interest rates- let me know about every possible situation in my case - texted me throughout the day to help me any possible way she could. I will definitely return and hopefully get to work with Katherine in the near future. Best customer experience ever. Highly recommendread more
Rick W.
Rick W.
12:06 05 Apr 22
I recently had the pleasure of working with with Danny Perez at Lending Bankers Mortgage. I was purchasing a condotel apartment. Financing for this type of non-conforming loan is difficult to find.... Danny was familiar with these projects and offered some creative ideas on the easiest/best ways to obtain the needed financing. He was on top of the situation and communicated with me frequently. Danny took my information to several parties in order to provide the best interest rates. Danny is a true professional and I would highly recommend him for your financing needs.read more
Jimmy H.
Jimmy H.
00:58 05 Apr 22
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
Roberto S.
Roberto S.
21:02 21 Mar 22
Gracias Claudia y Ana por sus atenciones .
Ileana R.
Ileana R.
16:56 21 Mar 22
La experiencia con Claudia y Ana con el refinamiento de mi casa fue muy bueno las recomiendo al 100%
Fernando P.
Fernando P.
14:30 21 Mar 22
Great experience working with Ana Salermo, her work was very professional with my buyer who was very grateful for her help in buying his new home.COLDWELL BANKER Ellison Realty
Nicolás C.
Nicolás C.
03:50 02 Feb 22
Simon
Simon
20:39 11 Jan 22
Muy agradecido con Gabriel y con David por su profesionalismo, hicieron el proceso sencillo, siempre respondieron a mis dudas sin importar el día y la hora, me mantuvieron informado de cada paso,... los tiempos se cumplieron como lo estimaron. ¡Muchísimas gracias!read more
ENRIQUE C.
ENRIQUE C.
18:38 05 Jan 22
La experiencia que tuve con Claudia y Ana en la refinanciación de mi casa fue excelente. Cuando otros bancos me habían dicho que no o que no tenían tiempo para mi, ellas trabajaron eficientemente y... rápidamente cerraron mi operación. A lo largo de todo el proceso hubo constante comunicación contestando el teléfono a cualquier hora y siempre haciendo seguimiento.Las recomiendo 100% para cualquier necesidad de mortage.read more
Juan R.
Juan R.
13:34 24 Nov 21
Thanks to Lending Bankers, I was able to close my first real estate deal while being 100% outside of the US.!!Given their expertise and high level standards, we managed to close a deal that seemed... impossible at the beginning. Working during very limited hours (EU+US) and being outside the US never represented a barrier for them.Eyes closed and hands down I personally recommend Lending Bankers as a trusted partner for residential loans!Ana (a.k Anita), David and Jacqueline are the best partners you could ever have for this complex journey.read more
Danet De L.
Danet De L.
17:43 23 Nov 21
I had the pleasure to work with Ana Salermo from the team at Lending Bankers. She was very professional and built rapport with my client Juan David right away, she is pro-active which is a quality... that I always look for when working with people since I am already so busy with clients the last thing I need is to be on top of somebody else to make sure they do their job correctly. Highly recommend her to other agents as an asset to their team.read more
Amad Naffah F.
Amad Naffah F.
01:22 20 Nov 21
Excelente servicio y mucho profesionalismo. Ya tengo varios Creditos tramitados con ellos y en todos me ha ido bien. Recomendados al 100%
Jp L.
Jp L.
19:20 19 Oct 21
Fantastic to work with. Very professional and knowledgeable.
Frida M.
Frida M.
15:00 19 Oct 21
Kind, fast, reliable and they know all the ways so that your loan is the best and most successful, Thank you David and Gabriel, for this easy and friendly closing, everyone happyFrida
José Manuel H.
José Manuel H.
16:24 14 Oct 21
Excellent service from Lending Bankers. David and Gabriel were great. Very responsive, took the time to explain every detail of the Loan and helped us to choose the best option. Definitely I... recommend them.read more
Alon B.
Alon B.
12:12 16 Sep 21
Working with Claudia was the most comfortable, smooth and pleasant experience, for the third time.She is professional, detailed, caring and available when ever you and/ or your project needs here... attention.read more
ARMET I.
ARMET I.
20:20 13 Sep 21
David and Gabriel did a very good job, during the purchase of my properties, providing me with support during the purchase process. Thank you so much. FAUSTO
Karol L.
Karol L.
00:23 11 Sep 21
Good and easy to deal with David and Gabriel, excellent service, professional and efficient. Always maintained contact through calls or text message. I knew every detail what was occurring with my... clients loan and the process. Thank youread more
Maria L.
Maria L.
16:33 08 Sep 21
The Lending Bankers team saved my clients transaction. We reached out in a moment of crisis due to errors made by another bank and helped my clients get a great loan in record time. They were... responsive and walked my clients through the entire process.read more
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