Miami and South Florida Mortgage Broker

Skyline Mortgage helps buyers and homeowners in Miami, Miami-Dade and the rest of South Florida compare loan options from multiple lenders. We serve the area from our office in Palm Coast, and we work with South Florida borrowers by phone, video and secure document upload. We do not have a Miami office.

As a licensed mortgage broker (NMLS #2386002), we help you compare programs and Loan Estimates. The lender you choose underwrites, approves and funds the loan.

Miami condo financing

Condos make up a large share of Miami sales, and condo financing is where many Miami deals get stuck. The lender reviews the building as well as the buyer.

  • Warrantable or not. A condo project that meets Fannie Mae or Freddie Mac rules is often called "warrantable." Buildings with a high share of investor-owned units, one owner holding many units, large commercial space, pending litigation, short-term rental operations or thin reserves may not qualify. Non-warrantable units can sometimes be financed through portfolio or non-QM lenders. These loans often carry higher rates and costs than agency loans, and terms vary by lender.
  • Milestone inspections and reserve studies. Florida law requires milestone structural inspections for many condo buildings three stories or taller (s. 553.899, F.S.) and structural integrity reserve studies for many associations (s. 718.112, F.S.). Miami-Dade County also runs its own building recertification program. Repairs found in these reviews can lead to special assessments.
  • Special assessments. A pending assessment isn't automatically a deal-breaker, but the lender will want to know what it pays for, how much it is and who pays it. Ask the association for the budget, reserve study, inspection reports, master insurance certificate and assessment schedule before you make an offer.
  • FHA and VA condos. FHA and VA each keep their own lists of approved condo projects. Check HUD's condo lookup for FHA.

Read our full Florida condo mortgage guide.

Other South Florida financing considerations

  • Insurance and flood. Wind coverage and flood insurance are a big part of the monthly cost in South Florida. Check the address on the FEMA Flood Map Service Center and get quotes early. See our guides to homeowners insurance and mortgage approval and flood insurance for a Florida mortgage.
  • Higher prices. Many Miami-area homes and condos exceed the county conforming loan limit. See jumbo loans in Florida.
  • Self-employed borrowers. Business owners, commissioned agents and independent contractors can compare tax-return and bank statement options.
  • Second homes and rentals. Lenders treat second homes and investment properties differently. Many condo associations limit rentals, so check the rules first. Investors can look at DSCR loans (business-purpose only).
  • ITIN borrowers. Some lenders offer mortgage options for borrowers who file taxes with an Individual Taxpayer Identification Number. Ask us which programs may fit.
  • Property taxes. Miami-Dade and Broward each have their own property appraiser. Taxes reset after a sale, so budget from the new assessed value, not the seller's bill. See Florida property taxes after you buy.

Hurricane season and your closing date

When a named storm threatens South Florida, insurers may pause writing new policies until it passes, which can push back a closing. Bind your homeowners or HO-6 condo policy and any flood policy early, and build a few extra days into the contract during hurricane season.

How it works from Palm Coast

  1. Call or request a consultation. Tell us the building or neighborhood, the price range and your timeline.
  2. Review the property early. For a condo, we help you request the association documents the lender will want before you're under contract.
  3. Compare options. We walk through Loan Estimates from the lenders that fit, including costs, not just the payment.
  4. Apply, underwrite and close. You sign with a South Florida title or closing agent, and we keep the file moving remotely.

Loan options for Miami-area borrowers

See our Florida mortgage broker page for statewide information, and use our pre-approval document checklist to get started.

Call (407) 663-4743 or contact us to talk about a Miami-area purchase or refinance.

Frequently Asked Questions

Does Skyline Mortgage have an office in Miami?

No. Our office is at 160 Cypress Point Parkway, Unit C211, Palm Coast, FL 32164. We serve Miami and South Florida borrowers from Palm Coast by phone, video and secure online document upload.

What is a non-warrantable condo?

It is a condo in a project that doesn't meet Fannie Mae or Freddie Mac rules, for reasons such as heavy investor ownership, litigation, commercial space, short-term rental operations or low reserves. Some portfolio and non-QM lenders finance these units, often at higher rates and costs than agency loans.

Can I get a mortgage on a Miami condo with a special assessment?

Possibly. A pending special assessment isn't automatically disqualifying, but the lender will review what it funds, its amount and who pays it. Get the association's assessment schedule, budget and reserve information before you make an offer.

Do milestone inspections affect condo financing?

They can. Florida requires milestone inspections for many condo buildings three stories or taller, and many associations must complete structural integrity reserve studies. Lenders review the results, required repairs and how the association will pay for them.

Do I need flood insurance for a Miami home?

If the home is in a FEMA special flood hazard area and the loan is federally backed or regulated, flood insurance is generally required. Condo association master policies usually cover only part of the building, so ask what the unit owner needs.

Can I get a mortgage with an ITIN?

Some lenders offer mortgage options for borrowers who file taxes with an ITIN. Requirements and availability vary by lender, so ask us which programs may fit your situation.

Can I buy a Miami condo as a rental?

It depends on the building and the loan. Many associations limit rentals, and lenders treat investment properties differently from homes you live in. Investors can compare DSCR loans, which are business-purpose loans only.

Contact us(407) 663-4743