The 2026 conforming loan limit for Miami-Dade County is $832,750. In any other major Florida market, that number marks an upper boundary that most buyers never approach. In Miami, it is crossed on entry. A two-bedroom luxury condominium in Brickell — not a penthouse, not a trophy unit, just a well-appointed residence in a building with amenities — begins at $1.2 million. A single-family home in Coconut Grove starts above $2 million and climbs quickly from there. Coral Gables waterfront estates range from $3 million to $20 million. Key Biscayne single-family homes carry medians above $3 million. Miami Beach oceanfront residences begin at $5 million and extend well into the eight-figure range.
Miami’s Jumbo market is the standard market for anyone purchasing in the city’s established neighborhoods, and it is a market that has been permanently reshaped by the relocation of global capital to Brickell and the continued arrival of high-net-worth buyers from high-tax states who are putting real money to work in Miami real estate. The buyers who succeed here work with mortgage professionals who understand how Jumbo programs are structured, how complex income is documented, and how to move at the pace this market demands.
Ryan Lehrman, NMLS #235295, structures Jumbo mortgage financing for Miami-Dade buyers — from the Brickell financial corridor to waterfront Coconut Grove, Coral Gables estates, Key Biscayne, and the full spectrum of Miami-Dade’s upper-tier residential market.
A Jumbo mortgage is any loan exceeding the county conforming limit set by the FHFA. In Miami-Dade County, that limit is $832,750 for 2026. Loans above this threshold cannot be purchased by Fannie Mae or Freddie Mac and are underwritten according to individual lender guidelines — which is why program terms, income requirements, down payment structures, and documentation standards vary meaningfully depending on where you apply.
Miami’s Jumbo market is large, competitive, and populated by buyers with financial profiles that range from straightforward high-income W-2 earners to fund managers, private equity partners, international buyers with offshore income, and business owners whose tax returns reflect deductions rather than capacity. Finding the right Jumbo program is not a commodity transaction in this market. It requires a lender who understands the profile and can match the program to it.
Key Features of Miami Jumbo Loans:
Loan amounts from $832,751 through $3 million and above
Fixed-rate (15, 20, and 30-year) and adjustable-rate (5/1, 7/1, 10/1 ARM) options
Primary residence, second home, and investment property programs
W-2, self-employed, bank statement, and alternative income documentation
Credit requirements typically 700+ for standard programs, higher for larger loan amounts
Reserve requirements: 6 to 18 months PITI typical; increases with loan size
Available for condominiums, single-family homes, townhomes, and select new construction
The largest segment of Miami’s financed upper-tier market. This program covers buyers purchasing in Brickell’s luxury condo inventory, entry to mid-range Coconut Grove and Coral Gables single-family homes, Edgewater and Wynwood luxury towers, and established neighborhoods like Pinecrest ($1 million to $3 million) and Palmetto Bay where appreciation has consistently outpaced other South Florida submarkets. Standard Jumbo programs accommodate W-2 income, equity compensation from employers in Brickell’s financial services cluster, and fixed investment income with straightforward documentation.
Purchases in Key Biscayne, waterfront Coral Gables and Coconut Grove, Miami Beach oceanfront, and Fisher Island routinely exceed $3 million and require Super-Jumbo financing. A dedicated page covers the Super-Jumbo programs available in Miami in full detail, including asset depletion, portfolio lending, and executive income documentation.
Physicians at Jackson Memorial Hospital, University of Miami Health, and Baptist Health South Florida frequently require Jumbo financing given Miami’s price structure — and carry student loan obligations and new employment contracts that standard Jumbo underwriting is not designed to handle. Physician Jumbo programs combine the benefit structures of physician lending with loan amounts above $832,750, without the requirement to document two years of income history. A dedicated page covers Physician mortgage programs in Miami.
Brickell
Miami's financial district and its most densely developed luxury residential market. Luxury condominiums at 1000 Museum, SLS LUX, Brickell Heights, and the emerging branded-residence tier (Cipriani Residences, ORA by Casa Tua, St. Regis Residences) range from $1.2 million for standard units to $10 million and above for penthouses and upper-floor residences. Price per square foot at premium Brickell addresses runs $950 and above, with 830 Brickell's office commanding $150 per square foot in lease rates — a data point that reflects the neighborhood's economic positioning. Virtually every financed purchase in Brickell's luxury tier requires Jumbo financing.
Coconut Grove
Miami's oldest neighborhood, Coconut Grove offers single-family estates, townhomes, and boutique luxury condominiums on tree-lined streets within minutes of Biscayne Bay. Single-family homes begin above $2 million, with bayfront and new construction properties starting near $6 million. Vita at Grove Isle — 65 ultra-luxury residences on a private 21-acre island off the Grove's coast — delivered completed units in 2025 with prices from $1.4 million to $10 million. Coconut Grove's combination of walkability, school quality, privacy, and bay access makes it the neighborhood of choice for many of the families who have relocated from the Northeast alongside Brickell's financial sector expansion.n Hill squarely in that buyer's orbit.
Coral Gables
A planned city within Miami-Dade County, Coral Gables is defined by its Mediterranean Revival architecture, canopy-lined boulevards, and concentration of diplomatic missions and multinational corporate offices. The Miracle Mile commercial corridor and Brickell City Centre proximity make it the most suburban-feeling of Miami's upper-tier neighborhoods while remaining urban in character. Single-family homes range from $1.5 million for smaller inland properties to $20 million for bayfront estates along Coral Gables Waterway. New construction starts near $6 million. Village Coral Gables, a boutique pre-construction project, is delivering residences at $6 million to $8 million.
Key Biscayne
An island municipality connected to Miami by the Rickenbacker Causeway, Key Biscayne offers one of the most exclusive and private residential environments in South Florida. Single-family homes have a median price above $3 million, with oceanfront and canal properties reaching $10 million to $30 million and above. The island's limited land area and controlled development create genuine scarcity that supports pricing. Key Biscayne is a Super-Jumbo market with a Jumbo entry tier.
Edgewater
The waterfront corridor between Downtown Miami and Wynwood, Edgewater has transitioned from mid-market to premium over the past decade. Luxury tower price per square foot has nearly doubled over eight years, according to CondoBlackBook data. Current pre-construction projects including Edge House and Villa Miami ($2 million to $3.5 million) represent the neighborhood's evolution into a legitimate Jumbo market. Its walkability score of 85 and proximity to the Perez Art Museum Miami, Adrienne Arsht Center, and Wynwood Arts District add lifestyle value that buyers from Northeast urban markets recognize and pay for.
Pinecrest and Palmetto Bay
Miami-Dade's premier suburban family neighborhoods, Pinecrest and Palmetto Bay offer large single-family homes with top-rated school access, strong appreciation, and lower density than the coastal neighborhoods. Active price band in Pinecrest runs $1 million to $3 million with new construction starting near $6 million. Palmetto Bay's average price per square foot rose from approximately $313 in 2021 to $456 in 2025, representing one of the strongest appreciation runs in Miami-Dade. Both neighborhoods are firmly Jumbo markets for buyers putting less than 20% down on any meaningful property.
Deep specialization in Miami-Dade's Jumbo market across all neighborhoods — Brickell to Key Biscayne
Programs for financial services professionals with carried interest, deferred compensation, and partnership income
Physician Jumbo for healthcare professionals at Jackson Memorial, UHealth, and Baptist Health
Bank statement and alternative documentation programs for self-employed buyers and business owners
Pre-construction familiarity — understanding when to apply, what to prepare, and how Miami's new construction timeline affects financing
Ryan Lehrman, NMLS #235295
Credit Profile: Standard Jumbo programs require 700 to 720 minimum, with better pricing available at 740+. Super-Jumbo programs typically begin at 720 to 740. Miami buyers with complex income profiles benefit from a pre-consultation to review the credit picture before application.
Income Documentation: W-2 and paystubs for salaried borrowers. Two years of personal and business tax returns for self-employed and partnership income. Bank statement programs (12 or 24 months) for business owners and independent earners. K-1 income from fund structures requires partnership documentation and two-year history.
Down Payment: Standard Jumbo programs typically require 10% to 20% depending on loan amount and credit profile. Loans above $2 million generally require 20% to 25%. Super-Jumbo programs require 25% to 30% depending on the program and borrower profile.
Reserves: 6 to 12 months PITI for standard Jumbo programs. Reserve requirements increase at higher loan amounts. Miami buyers with investment portfolios and retirement accounts can typically count those toward reserve requirements at a percentage of market value.
Consultation and Pre-Approval — A private consultation to map your income structure, identify the right program, and issue a pre-approval that communicates credibility to Miami's listing agents and sellers. In Miami's upper-tier market, a fully underwritten pre-approval is not optional — it is expected.
Program and Rate Selection — Based on loan amount, income type, and property, Ryan selects the appropriate program — fixed-rate for buyers who want payment certainty, adjustable for buyers with shorter hold periods or plans to pay down the balance quickly.
Documentation — Jumbo documentation requirements are specific. Ryan identifies exactly what is needed based on income type and prepares the package to move through underwriting cleanly.
Property Review and Appraisal — Miami luxury properties require appraisers with specific neighborhood experience. The appraisal process for Brickell condominiums uses comparable sales from the specific building class. Coconut Grove and Coral Gables estate appraisals require appraisers familiar with the neighborhood's pricing dynamics.
Clear to Close — Ryan maintains communication through underwriting and works to close on the timeline the purchase contract requires.
Because the 2026 conforming limit of $832,750 is below the entry price for a meaningful purchase in most of Miami's established neighborhoods. A buyer putting 10% down on a $1 million Brickell condominium needs a $900,000 loan — $67,250 above the Jumbo threshold. Coral Gables entry-level single-family homes begin at $1.5 million. Any buyer purchasing in these neighborhoods with less than 20% to 25% down is financing a Jumbo loan, and many buyers with 20% or more down are still in Jumbo territory given Miami's price levels.
Yes, with the right program. Year-end bonus income can be included in qualifying income when it is documented as recurring over two years — typically through W-2s and bonus confirmation letters. Deferred compensation schedules require the vesting agreement and distribution documentation. For buyers where the current-year income does not fully reflect the compensation structure, bank statement programs and alternative documentation pathways are available. This buyer profile is a regular part of the Miami Brickell lending practice.
With a complete documentation package, 21 to 30 days for standard programs. Complex income situations — fund manager compensation, international income, self-employment — can extend this. Pre-approval before you are under contract, with documentation already assembled, puts you in the best position to meet the 30- to 45-day close timelines common in Miami's upper-tier market.
Ready to finance your upper-tier Miami property? Schedule a confidential consultation today.
Originally from Harrisburg, Pennsylvania, I moved to Phoenix to attend Arizona State University and have proudly called Phoenix home ever since.
My journey into the mortgage industry began with a friend’s encouragement, who saw how my energy and people-first mindset could make a difference. He was right — I found my calling.
I’ve always embraced what makes me different. With ADHD as my secret weapon, I thrive in fast-paced, detail-heavy environments. I’ve built my career on clear communication, creative problem-solving, and putting clients first, always.
Outside of work, my greatest motivation is my wife and three amazing kids. I’d be honored to help guide you through your lending journey with care, clarity, and commitment.
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