Select your Scenario
Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.813%APR 6.820% | 0 pts$0 | $3,356/moP&I $3,356 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.996%APR 6.739% | 0 pts$0 | $3,375/moP&I $3,135 · MI $240 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.870%APR 5.880% | 0 pts$0 | $3,039/moP&I $3,039 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.846%APR 6.853% | 0 pts$0 | $3,367/moP&I $3,367 · MI $0 | See details |
| Investment Property FixedConforming | 7.546%APR 7.553% | 0 pts$0 | $3,611/moP&I $3,611 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 5.870% | 5.880% | 0 pts ($0) | $4,302/mo | $84,704 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.849% | 5.859% | 0 pts ($0) | $5,370/mo | $118,021 |
Condo 10% Down | 10% | 720 credit score | 7.018% | 7.153% | 0 pts ($0) | $3,855/mo | $134,651 |
Conventional 10% Down | 10% | 720 credit score | 6.453% | 6.578% | 0 pts ($0) | $3,638/mo | $124,808 |
Conventional 20% Down | 20% | 740 credit score | 6.813% | 6.820% | 0 pts ($0) | $3,356/mo | $103,405 |
Conventional 5% Down | 5% | 700 credit score | 6.939% | 7.383% | 0 pts ($0) | $4,037/mo | $140,678 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.304% | 7.311% | 0 pts ($0) | $4,407/mo | $151,299 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,803/mo | $128,845 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.497% | 6.834% | 0 pts ($0) | $3,939/mo | $140,951 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.846% | 6.853% | 0 pts ($0) | $4,209/mo | $142,425 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $5,303/mo | $126,430 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.996% | 6.739% | 0 pts ($0) | $3,781/mo | $132,666 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,893/mo | $136,299 |
FHA Streamline Refi | 0% | 640 credit score | 5.996% | 6.739% | 0 pts ($0) | $3,918/mo | $137,477 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.911% | 7.123% | 0 pts ($0) | $4,025/mo | $145,657 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $4,020/mo | $78,713 |
Investment Property 25% Down | 25% | 740 credit score | 7.546% | 7.553% | 0 pts ($0) | $3,385/mo | $107,595 |
Jumbo Conforming | 20% | 760 credit score | 6.901% | 6.905% | 0 pts ($0) | $3,386/mo | $104,768 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $3,737/mo | $114,570 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 5.999% | 6.742% | 0 pts ($0) | $3,783/mo | $132,723 |
Second Home 10% Down | 10% | 720 credit score | 6.006% | 6.553% | 0 pts ($0) | $3,470/mo | $117,034 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,380/mo | $104,504 |
VA 0% Down | 0% | 700 credit score | 6.013% | 6.230% | 0 pts ($0) | $3,941/mo | $130,048 |
VA Cash-Out Refi | 0% | 640 credit score | 6.020% | 6.361% | 0 pts ($0) | $3,944/mo | $130,186 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.037% | 6.163% | 0 pts ($0) | $3,951/mo | $130,522 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $3,536/mo | $111,867 |
Frequently Asked Questions
What are today's mortgage rates in Miami-Dade County, FL across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Miami-Dade County, FL is 6.813% (with an estimated monthly payment of $2,918). Active program rates also include FHA 30-year fixed loans at 5.996% and VA 0%-down fixed loans at 6.013%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Miami-Dade County, FL?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in Miami-Dade County, FL have fluctuated between a low of 6.467% and a high of 6.927%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in Miami-Dade County, FL?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $642,606 in Miami-Dade County, FL, a standard 20%-down Conventional loan requires an upfront cash down payment of $128,521 but keeps your monthly payment lower at $2,918/mo (at 6.813% interest) with no monthly PMI. In comparison, an FHA loan requires only $22,491 (3.5% down) but has an estimated payment of $3,288/mo (at 5.996% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $620,115 falls comfortably within the local HUD FHA loan limit of $738,997 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in Miami-Dade County before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Miami-Dade County is $806,501. With a typical local home value of $642,606 in , a standard 20%-down mortgage requires a loan size of $514,085. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in Miami-Dade County, FL impact estimated mortgage payments?
The median home value in Miami-Dade County, FL is estimated at $642,606. Buying a typical home here with a standard 20% down payment ($128,521) translates to an estimated starting monthly mortgage payment of $2,918 (principal and interest). Compared to the local area median household income of $80,041 ($6,670/mo), this basic housing payment represents approximately 43.7% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.