No Ratio DSCR in Miami, FL

Miami-Dade County occupies a unique position among all the markets we serve: it operates on global capital flows as much as local economics. The median sale price of $560,000 is up 0.9% year-over-year despite 16,599 active listings and a 99-day median days on market — a combination that would produce steeper declines in any other market. The explanation is international demand. Miami's identity as a Western Hemisphere financial hub insulates it from domestic rate sensitivity in ways that Phoenix, Atlanta, or Houston cannot replicate.

The 94.6% sale-to-list ratio reflects a market where buyers have leverage — particularly in the condo segment — but where well-located single-family homes and townhomes continue to attract competition from cash-heavy international buyers. The $806,500 conforming limit is a meaningful threshold here; a significant share of Miami-Dade transactions occur above it, making our jumbo and non-QM product lines essential tools. Foreign national financing and ITIN loan programs are high-volume categories at our Miami operations.

Miami-Dade's borrower profile is the most international of any market we serve. Brazilian, Venezuelan, Colombian, and European buyers represent a significant share of purchase volume. ITIN loans, foreign national programs, and non-QM bank statement financing are essential products for this population. Domestic buyers tend to be high-earning professionals in finance, healthcare, real estate, and the arts. Self-employment and complex income structures are the rule rather than the exception in Miami, requiring sophisticated underwriting approaches.