Mortgage Loans in Miramar, FL: FHA, Conventional, Investor and HomeTown Heroes
You can get a mortgage in Miramar through William Ledesma at Bold Mortgage, a division of PRMG, who works with Miramar buyers by phone, video and e-sign, together with local agents. Your options include FHA, conventional, jumbo, DSCR investor and bank statement loans, plus Florida HomeTown Heroes for qualifying first-time buyers. Miramar has two very different housing markets, older homes in the east and newer HOA communities in the west, and each one points to a different loan plan.
Buying a home in Miramar: what to know
Miramar is in southwest Broward County, right on the Miami-Dade line, with Pembroke Pines to the north and Miami Gardens to the south. It became a city in 1955. The east side, near US 441, grew first. The west side, out toward I-75 and US 27, filled in much later with large planned communities. That split shapes almost every buying decision here.
Areas buyers look at:
- Historic Miramar (east): one story concrete block homes from the 1950s through the 1970s, often with no HOA.
- Silver Shores: lake communities with single family homes from later decades.
- Monarch Lakes: newer single family homes and townhomes in a planned setting.
- Sunset Lakes: a large western community of single family homes on lakes, with HOA amenities.
- Riviera Isles: a gated community in the far west with newer, larger homes.
Miramar Town Center is the civic heart of the city, with City Hall, a library and the Miramar Cultural Center. Miramar Regional Park is a large city park with sports fields and an amphitheater. Memorial Hospital Miramar serves the area, and office parks along the I-75 corridor bring corporate jobs. Hard Rock Stadium is a short drive south.
The city has a large Caribbean community and draws many families, first-time buyers moving up from renting, and people who commute to both Miami-Dade and Broward through I-75 and Florida's Turnpike. In the east, you will find lower prices and older homes that may need updates. In the west, you get newer construction, community pools and gates, with monthly HOA fees and in some areas a higher price point.
FHA loans in Miramar
FHA lets you buy with 3.5% down if your credit score is 580 or higher. With a score from 500 to 579, you need 10% down, and lender overlays may apply. The 2026 FHA limit for a one-unit home in Broward County is $667,000. Limits are higher for 2 to 4 unit properties.
FHA has an upfront mortgage insurance premium, usually added to the loan, plus an annual premium paid monthly. With less than 10% down, the annual premium stays for the life of the loan unless you refinance.
East Miramar homes work well with FHA, but the appraisal checks property standards, so roof leaks, peeling paint, electrical problems and unpermitted garage conversions can come up. In the west, single family homes in HOAs are usually fine. Some townhome communities are set up as condos, and then the project must be FHA approved or the unit must qualify for single-unit approval.
Conventional loans in Miramar
Conventional loans allow 3% down for qualifying first-time buyers and 5% down for most others. With less than 20% down you pay PMI, which you can ask to remove at 20% equity and which ends on its own at 22% based on the original schedule.
The 2026 conforming limit in Broward County is $832,750. Most Miramar homes fall below it, but larger lakefront homes in the western gated communities can go above it and need a jumbo loan. Buyers with good credit and 5% or more down often find conventional a strong choice for newer western homes, since PMI can cost less than FHA mortgage insurance.
Investor and DSCR loans in Miramar
A DSCR loan qualifies you on the property's rent instead of your personal income. Plan for 20 to 25% down. It suits LLCs, self-employed investors and people building a rental portfolio. William also offers conventional investment loans and bank statement loans.
Rental demand comes from families who want a house with a yard, workers commuting to Miami-Dade and Broward, hospital staff and corporate employees along I-75. Older east side homes often rent well for long term tenants. In the west, read the HOA documents first, because many associations require tenant approval, set minimum lease terms or limit rentals. Check city zoning and licensing rules before you buy for short-term rental.
Florida HomeTown Heroes and down payment help in Broward County
Florida HomeTown Heroes is a Florida Housing Finance Corporation program for first-time buyers, which generally means you have not owned a primary residence in the past 3 years, who work full time for a Florida-based employer. It gives 5% of the first mortgage, with a minimum of $10,000 and a maximum of $35,000, as a 0% interest second mortgage with no monthly payment. You repay it when you sell, refinance, transfer the deed, pay off the first mortgage or stop living in the home.
You need a 640 minimum credit score and homebuyer education, and Broward County income limits apply. Funding is released in rounds and can run out, so William checks availability the day you are under contract. A fully signed contract is needed to reserve funds. Program details are at Florida Housing.
Broward County also receives SHIP (State Housing Initiatives Partnership) funds for local down payment help through the Broward County housing office. Ask William about any Miramar city programs as well.
Insurance, flood and condo rules that affect your loan in Miramar
- Older east side homes: insurers often ask for a 4-point inspection on homes this age. An old roof, an outdated electrical panel or old plumbing can make insurance hard to get. A wind mitigation report can lower your premium.
- Flood zones: Miramar is flat with many lakes and canals, especially in the west. Some areas are in FEMA flood zones. If the home is in a Special Flood Hazard Area, flood insurance is required. Check the flood map before you make an offer.
- Citizens Property Insurance: the state backstop when private insurers say no. Citizens now requires many policyholders to carry flood insurance too.
- HOA fees in the west: HOA fees count in your debt ratio. Ask what they cover and whether a special assessment is planned.
- Condo safety laws: for condo buildings three stories or taller, Florida's milestone inspection and structural integrity reserve study rules apply. Weak reserves or open critical repairs can block conventional and FHA loans.
Your action plan
- Book a clarity call with William: book a call.
- Start with no hard credit pull and decide if east or west Miramar fits your budget better.
- Get pre-approved: start your pre-approval.
- Pick FHA, conventional or DSCR, and check HomeTown Heroes and Broward help.
- Shop with a local agent, and get insurance quotes and HOA documents early.
- Lock your rate and close.
Miramar mortgage FAQs
Where can I get the best conventional loan rates in Miramar?
Rates depend on your credit, down payment, property type and loan amount. Get Loan Estimates from more than one lender on the same day and compare them line by line. Bold Mortgage offers many loan programs, and William gives you a side-by-side comparison of your options.
How do I qualify for an FHA loan in Miramar?
You generally need a 580 credit score for 3.5% down, steady income and a manageable debt load, including any HOA fee. The home must pass the FHA appraisal for safety and condition. Approval depends on your credit, income, assets and the property.
Where can I apply for investor or DSCR mortgage programs in Miramar?
You can apply with William at Bold Mortgage online or by phone. He offers DSCR, conventional investment and bank statement loans. If the home is in an HOA, confirm the leasing rules first.
Can I use Florida HomeTown Heroes in Miramar?
Yes, if you are a first-time buyer who works full time for a Florida-based employer, has at least a 640 score and meets Broward income limits. The home must be your primary residence. William checks funding once you have a signed contract.
Should I buy an older home in east Miramar or a newer home in west Miramar?
It depends on your budget and goals. East side homes often cost less and have no HOA fee, but may need roof, electrical or plumbing updates that affect insurance and FHA approval. West side homes are newer and easier to insure, but come with HOA fees and rules. William can run both payments side by side so you can compare.
About William A. Ledesma
William A. Ledesma is a Florida licensed mortgage loan officer and Florida HomeTown Heroes specialist with Bold Mortgage, a division of PRMG. He helps buyers, homeowners and investors in Miramar and across Florida, in English and Spanish. Every client gets a clear action plan from pre-approval to closing.
- Call or text: (786) 387-3676
- Email: will@williamledesma.com
- Office: 4960 SW 72nd Ave, Suite 400, Miami, FL 33155
- Client reviews: Read reviews from William's clients
More Florida mortgage guides: Aventura, Hollywood, Pembroke Pines, Fort Lauderdale. Lea esta guía en español.
William A. Ledesma, NMLS #1232716. Bold Mortgage is a division of Paramount Residential Mortgage Group, Inc. (PRMG), NMLS #75243, Florida Mortgage Lender Servicer License MLD1608. Equal Housing Opportunity. This page is general information, not a commitment to lend. All loans are subject to credit approval, underwriting guidelines and property eligibility. Loan limits, program terms and down payment assistance funding can change without notice.
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