Guide · Updated:
Mortgages for foreign buyers
You can finance, but in Miami most expensive purchases are all-cash and many condo buildings don't qualify for the most common loans.
Sources: Freddie Mac, Primary Mortgage Market Survey · MIAMI REALTORS®, August 2026 report (Miami-Dade) · checked Sep 30, 2026
Ask for a shortlist and documentsYour message includes this guide topic.What is the interest rate today?
The national 30-year average was 7.03% on September 24, 2026, per Freddie Mac. A foreign-buyer loan is priced by each bank.
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Freddie Mac's weekly survey (PMMS) is the public benchmark for U.S. rates: 7.03% for a 30-year and 6.42% for a 15-year loan the week of September 24, 2026. That figure covers conventional loans to buyers with U.S. credit history. Foreign-buyer loans are not in that survey: each lender sets its own rate, minimum down payment and paperwork. So the figure helps you get your bearings, not calculate your payment.
Source: Freddie Mac, Primary Mortgage Market Survey · checked Sep 30, 2026
How many buyers pay cash?
Many: 82% of Miami condo sales of $1 million or more were all-cash in 2025.
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According to MIAMI REALTORS®, the Miami metro leads the U.S. in all-cash purchases, and 82% of $1 million-plus condo sales in 2025 closed without a mortgage. That matters to you in two ways: a cash offer competes better, and if you will finance, have the lender's approval before you offer so the seller does not see your offer as slower.
Source: MIAMI REALTORS®, August 2026 report (Miami-Dade) · checked Sep 30, 2026
Why can't some condos be financed?
Because the loan also depends on the building. Only 21 of 2,397 South Florida condo buildings are approved for FHA loans.
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MIAMI REALTORS®, using Department of Housing (HUD) data, counts 2,397 condo buildings in Miami-Dade, Broward and Palm Beach, of which only 21 are approved for FHA loans. On top of that, Fannie Mae and Freddie Mac eliminated the limited review option for many condo loans on August 3, 2026, so lenders look harder at a building's finances and reserves. Before falling for a unit, ask whether the building qualifies with your lender.
Source: MIAMI REALTORS®, August 2026 report (Miami-Dade) · checked Sep 30, 2026
This summarises what the law says and what the cited sources publish; it is not legal or tax advice. Before you decide, confirm it with a Florida-licensed attorney or CPA.
Written by Carolina Suárez Rivas, Florida-licensed real estate agent (SL3336060).