Portfolio Loans in Miami

Yes, by a wide margin. As of March 31, 2026, Miami-Dade's average homeowners premium including wind was $5,975, against $3,610 in Orange County (Orlando) and $2,650 in Lake County, and its condo unit owner premium of $2,801 was more than double Orange County's $1,295. On a $3,000 a month single-family rental, the gap against Orange County alone is roughly three-quarters of a month's rent per door, before flood coverage is added. A blanket policy across a Miami-Dade portfolio concentrates that cost in one collateral pool rather than spreading it across counties, and we underwrite the facility against the actual premium mix in your file. See how portfolio loans work on the national program page.

It concentrates a risk that is specific to older condo buildings, so we underwrite that unit on its own facts. A Miami-Dade condominium building three stories or taller faces a state milestone inspection at 30 years of age (25 if the county has adopted that local option), a separate county recertification at 25 to 30 years depending on distance from the coast, and a structural integrity reserve study that associations can no longer waive. If an inspection turns up structural repairs, the association can no longer skip reserving for them, which is the mechanism that turns an inspection finding into a special assessment. A single distressed unit in a five-property portfolio is a manageable underwriting question; buying several units in the same aging tower concentrates it into one collateral pool. Ask about your building's inspection and reserve status before we size the loan.

The 10 percent non-homestead assessment cap, not the 3 percent homestead cap you may see quoted for owner-occupied Florida homes. Florida's homestead Save Our Homes cap is not available to a non-owner-occupant, so every rental in your portfolio is capped at 10 percent annual assessed-value growth, and that cap resets to full market value at every change of ownership. A seller's tax bill on a long-held Miami-Dade rental will understate what you owe once the parcel reassesses under your name, which matters across a whole portfolio acquisition, not just one door. Run each parcel through its municipality's property appraiser estimator, and confirm entity and exemption questions with your CPA.

Yes, we size the facility against each parcel's actual carrying cost, not a single county average. Miami-Dade's 2025 total millage runs from 15.51 mills in Key Biscayne up to 24.00 in Opa-locka, with North Miami at 22.14 and Miami Gardens at 22.39, and the stack itself differs by city: the county's Fire and Rescue and Library millage lines apply only where the county provides the service, so Miami, Miami Beach, Hialeah, Coral Gables, and Key Biscayne carry no county Fire and Rescue line at all. A blanket loan across doors in several of those cities means several different tax and fee stacks feeding one payment, and we underwrite the portfolio on the mix your file actually shows rather than one metro-wide number. A single-property DSCR loan works the same way if you would rather finance one door at a time.

Underwrite the rent number, not a population-growth story. Miami-Dade's population fell by 10,115 people in the year to July 2025, after peaking in 2024, and the county depends on international migration for growth while domestic out-migration has widened every year since 2022. Rents have still held up: the Zillow single-family rent index for the Miami metro was $3,461 a month in June 2026, the highest of any Florida metro in our research and roughly 40 percent above Tampa and Orlando. That is a market carried by high absolute rent levels on a shrinking, not expanding, population base, and a portfolio loan should be sized on the actual rent roll rather than an assumption that more tenants are coming.

Yes, and a multi-property Miami-Dade holder is running several regimes at once, not one. Unincorporated Miami-Dade licenses vacation rentals under county code section 33-28, requiring a Certificate of Use before listing, and in Estate or Low Density residential areas requires the responsible party to live in the home more than six months a year, which rules out an absentee owner in those zones entirely. Miami Beach defines short-term as anything under six months and one day and bars it outright in all single-family homes and many multifamily zoning districts. Transient taxes split the same way: most of the county charges 6 percent (Convention Development, Tourist Development, and Sports Franchise taxes combined), while Miami Beach charges 3 percent county tax plus its own 4 percent city resort tax, and Surfside and Bal Harbour sit outside the county levies altogether. A portfolio with doors in several of those cities is administering several licensing and tax regimes under one blanket loan, and we underwrite each property's actual rules rather than assume one policy covers the file.

Five or more properties, and $500,000 and up. Under that we would write the doors one at a time instead. The blanket structure puts the whole set under a single consolidated payment on a custom term, which is worth more in Miami-Dade than in most counties, because doors in different cities carry different stacks: 15.51 mills in Key Biscayne against 24.00 in Opa-locka, with several cities carrying no county Fire and Rescue line at all. One loan and one payment, still underwritten on each parcel's actual carrying cost. Subject to underwriting.

Yes. Individual property release is part of the structure. You do not have to unwind the facility to sell a single door, which matters in a county where the two halves of the market have decoupled: Case-Shiller Miami single-family prices hit an all-time high in May 2026 while Miami MSA condo values fell 6.2 percent year over year. An investor who wants out of an aging condo unit and deeper into houses can release that unit and leave the rest of the portfolio in place under one consolidated payment. Subject to underwriting.