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 | 7.427%APR 7.444% | 0 pts$0 | $3,569/moP&I $3,569 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.677%APR 7.437% | 0 pts$0 | $3,607/moP&I $3,367 · MI $240 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.722%APR 6.747% | 0 pts$0 | $3,325/moP&I $3,325 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.460%APR 7.478% | 0 pts$0 | $3,580/moP&I $3,580 · MI $0 | See details |
| Investment Property FixedConforming | 8.125%APR 8.162% | 0 pts$0 | $3,817/moP&I $3,817 · 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 | 6.722% | 6.747% | 0 pts ($0) | $4,541/mo | $97,417 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.694% | 6.720% | 0 pts ($0) | $5,667/mo | $133,778 |
Condo 10% Down | 10% | 720 credit score | 7.750% | 7.907% | 0 pts ($0) | $4,143/mo | $147,424 |
Conventional 10% Down | 10% | 720 credit score | 7.267% | 7.415% | 0 pts ($0) | $3,952/mo | $138,994 |
Conventional 20% Down | 20% | 740 credit score | 7.427% | 7.444% | 0 pts ($0) | $3,569/mo | $112,922 |
Conventional 5% Down | 5% | 700 credit score | 7.552% | 8.029% | 0 pts ($0) | $4,290/mo | $151,965 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.894% | 7.913% | 0 pts ($0) | $4,668/mo | $162,743 |
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 | 7.336% | 7.706% | 0 pts ($0) | $4,289/mo | $156,712 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.460% | 7.478% | 0 pts ($0) | $4,476/mo | $154,323 |
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 | 6.677% | 7.437% | 0 pts ($0) | $4,062/mo | $145,593 |
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 | 6.973% | 7.737% | 0 pts ($0) | $4,338/mo | $156,704 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.510% | 7.743% | 0 pts ($0) | $4,273/mo | $156,686 |
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 | 8.125% | 8.162% | 0 pts ($0) | $3,578/mo | $116,022 |
Jumbo Conforming | 20% | 760 credit score | 7.539% | 7.554% | 0 pts ($0) | $3,608/mo | $114,660 |
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 | 7.124% | 7.890% | 0 pts ($0) | $4,251/mo | $154,092 |
Second Home 10% Down | 10% | 720 credit score | 6.695% | 7.266% | 0 pts ($0) | $3,730/mo | $129,022 |
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 | 6.708% | 6.945% | 0 pts ($0) | $4,239/mo | $143,774 |
VA Cash-Out Refi | 0% | 640 credit score | 6.717% | 7.084% | 0 pts ($0) | $4,243/mo | $143,952 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.736% | 6.878% | 0 pts ($0) | $4,251/mo | $144,328 |
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 7.427% (with an estimated monthly payment of $3,103). Active program rates also include FHA 30-year fixed loans at 6.677% and VA 0%-down fixed loans at 6.708%. 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 7.427%. 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 $3,103/mo (at 7.427% interest) with no monthly PMI. In comparison, an FHA loan requires only $22,491 (3.5% down) but has an estimated payment of $3,532/mo (at 6.677% 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 Miami-Dade County, 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 $3,103 (principal and interest). Compared to the local area median household income of $80,041 ($6,670/mo), this basic housing payment represents approximately 46.5% 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.